The Red Sunday: Crypto Giants Stumble as Market Cap Bleeds Billions
The crypto world woke up to a "sea of red" this February 1, 2026, as the market faces its most aggressive "risk-off" environment in months. What started as a slip has turned into a slide, with nearly $111 billion wiped off the total market cap in just 24 hours.
From institutional caution to a mechanical reset of over-leveraged positions, here is how the heavyweights are holding up:
The Big Bleed: Quick Stats
Asset Current Price 24H Change The Story
Bitcoin (
$BTC ) $79,000 -6% Slipped below the psychological $80k floor after failing to hold $85k.
Ethereum (
$ETH ) $2,450 -10% Leading the decline with over $385M in liquidations.
BNB (
$BNB ) $780 -8% Retreating as liquidity tightens across the Binance ecosystem.
Solana (
#SOL ) $105 -11% Taking
Why the Sudden Shiver?
The "January chill" has extended into February, driven by a perfect storm of macro and technical factors:
The "Warsh" Effect: Markets are jittery following the nomination of Kevin Warsh as the next Fed Chair. His reputation for "tightening the taps" has sent speculative investors running for the exits.
Mass Liquidations: Over 240,000 traders were caught on the wrong side of the dip, triggering a domino effect of over $974 million in forced sell-offs.
The ETF Exodus: A slowdown in spot ETF inflows has removed the safety net that kept Bitcoin buoyant throughout the late 2025 rally.
The Silver Lining?
While the majors are struggling, the market isn't dead—it's shifting. While Bitcoin and Ethereum bleed, traders are migrating toward prediction markets and niche altcoins like zkPass (ZKP), which is defying the gravity of the crash with a 30% surge.
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