Crypto markets saw a modest bounce after last week\u2019s broad sell-off, though the sector remains in the red. Total market cap is down 2.2% today and most large-cap crypto assets are seeing losses on the daily and weekly timeframes. <\/p>\n
As of Monday morning, Bitcoin (BTC<\/a>) was still down about 3% on the day, trading near $69,280, after briefly dipping as low as $60,000 on Thursday.<\/p>\n Ethereum (ETH<\/a>) is also down today, with 3.8% losses over the past 24 hours to trade just above $2,000<\/a>, extending its seven-day losses to roughly 12%. <\/p>\n All remaining top-10 tokens by market capitalization were in the red as well, with Solana (SOL<\/a>) leading losses, down about 4% on the day.<\/p>\n Glassnode analysts said in a post on X today<\/a>, Feb. 9, that market positioning for Bitcoin remains defensive across spot and derivatives markets, as well as per on-chain metrics, with any recovery dependent on a meaningful return of spot demand.<\/p>\n They added that while fundamental network activity is strengthening, profit-and-loss conditions continue to weaken, demonstrating only soft demand and limited profitability.<\/p>\n At $70,000 levels, unrealized losses account for about 16% of Bitcoin\u2019s market cap, echoing the situation in early May 2022, glassnode noted<\/a>, referring to heavy deleveraging that preceded the Terra-driven drawdown<\/a> at the time.<\/p>\n According to the Crypto Fear & Greed Index<\/a>, investor sentiment remains in the \u201cextreme fear\u201d zone this morning, where it has been for most of the last month. <\/p>\n Looking at the top-100 assets<\/a> by market cap, Rain (RAIN) and the Trump family\u2019s World Liberty Financial (WLFI)<\/a> outperformed the market up 11% and 6% respectively.<\/p>\n On the downside, MemeCore (M), Bittensor (TAO), and Ondo (ONDO) were the three weakest performers, all down about 6% on the day.<\/p>\n CoinGlass<\/a> data showed continued forced deleveraging, with roughly $344 million in leveraged crypto positions liquidated over the past 24 hours, a far cry from the multi-billion liquidations that shook the market late last week amid quickly falling prices.<\/p>\n By asset, BTC led liquidations with approximately $182 million, followed by ETH at around $71 million.<\/p>\n For the week ending on Feb. 6, spot Bitcoin exchange-traded funds recorded $318 million in net outflows, and ended the week with daily net inflows above $371 million. Cumulative net inflows stand at $54.7 billion, according to data from SoSoValue<\/a>. <\/p>\n Spot Ethereum ETFs posted $166 million in weekly net outflows during the same timeframe, with net outflows every day last week but Feb. 3, while cumulative net inflows are currently around $11.8 billion.<\/p>\nEcho of May 2022<\/h2>\n
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Big Movers and Liquidations<\/h2>\n
ETFs and Macro Conditions<\/h2>\n