The crypto market crash deepens, with Bitcoin (BTC) falling to a 10-month low of $74,550 and testing a critical support level. Other major assets, including Ethereum (ETH), XRP, and Dogecoin (DOGE), also saw significant declines today.
The Crypto Fear & Greed Index dropped further into ‘extreme fear’ at 14, as the total crypto market cap crash by almost 5% to $2.53 trillion. More than $510 billion has now wiped out in just a few days, with liquidations by institutions and whales worsening the selloff.
US stock market futures also extend losses, with the crypto stocks-heavy Nasdaq 100 to open 1.80% lower on Monday. Notably, gold prices are now down more than $1,100 in 3 trading days, currently trading 8% lower at $4,482.
Experts Predict Deeper Crypto Market Crash
Last week, CoinGape was the first to predict the Bitcoin price crash when BTC was trading at $89K. The prediction was based on multiple factors, including spot Bitcoin and Ethereum ETF outflows, limited stablecoin liquidity, a hawkish US Fed, crypto options expiry, derivatives positioning, a strengthening Japanese yen, bear market sentiment, and technical indicators.
Today’s 5-6% decline in BTC is driven by investor concerns about the partial US government shutdown, adding to ongoing concerns over Iran-US tensions and tariffs. However, House Speaker Mike Johnson stated that the House aims to end the shutdown by Tuesday, even as he prepares to move forward without Democratic support for Department of Homeland Security funding, Axios reported on February 2.
The broader crypto market crash saw ETH dropping 8% to below $2,200. XRP fell over 5% to a low of $1.53, and DOGE is down 16% for the week amid risk-off sentiment.
The crash isn’t isolated to the crypto market. It’s tied to broader market dynamics, with even gold and silver seeing sharp drops of nearly 8% and 12% today. The Kobeissi Letter pointed out that selling pressure across commodities as Bitcoin hits its lowest level since April 2025.
This follows US President Donald Trump’s nomination of former Fed Governor Kevin Warsh as the next Fed Chair. While Warsh has maintained a hawkish stance on rate cuts, Trump asserts that additional cuts are forthcoming. This suggests reduced liquidity for risk assets such as stocks and cryptocurrencies.
BREAKING: Selling pressure accelerates across multiple asset classes as Bitcoin hits its lowest level since April 2025:
1. Natural Gas: -15.5%
2. ETH: -10.5%
3. Silver: -8.0%
4. Gold: -5.5%
5. Bitcoin: -5.5%
6. WTI Crude: -4.5%
7. Nasdaq 100: -1.5%
8. S&P 500: -1.2%
9. Dow 30:…— The Kobeissi Letter (@KobeissiLetter) February 2, 2026
Analyst Predicts Further Bitcoin and Crypto Market Crash
The crypto market crash is driven by a combination of macroeconomic pressures, policy shifts, geopolitical risks, and technical factors. As spot Bitcoin and Ethereum ETFs continue heavy outflows, analysts predict the potential for more price crashes in BTC, ETH, XRP, and DOGE.
Veteran trader Peter Brandt has lowered his Bitcoin price target from $58K to $54K. This comes as BTC wavers near critical support of $74,500 today, risking a fall to $66,530.
Analyst Rekt Capital noted that BTC closed the month below the base of the macro triangle, indicating a bearish trend. This pattern suggests a likely breakdown into the bearish acceleration phase of the cycle.
He added that “history suggests that price may struggle to even revisit the Triangle base to turn it into new resistance $82500. The longer Bitcoin stays below $82500, the chances for Bearish Acceleration increase.”
Analyst Ali Martinez identifies $2,250 to $2,100 as a key support range for Ethereum. For XRP, resistance is at $1.86, with support at $1.38 and $1.02 to watch amid the crypto market crash.
As CoinGape reported earlier, Peter Brandt warned that ongoing bearish pressure could crash the crypto market cap to $2.41 trillion, following a break below the key $2.82 trillion support level. This would increase selling pressure on BTC, ETH, XRP, and DOGE.
Another $800 Million in BTC, ETH, XRP and DOGE Liquidations
After more than $2.5 billion in forced liquidations and leverage reductions across major crypto assets in recent days, an additional $800 million was liquidated in the past 24 hours.
CoinGlass data indicates that over 201K traders were liquidated in the past 24 hours, with the largest single BTC-USD liquidation order worth $15.46 million on Hyperliquid.
In the past 24 hours, over $600 million in long positions and $200 million in short positions were liquidated. Notably, $180 million in long positions were liquidated within a single hour during today’s crypto market crash.
ETH, BTC, SILVER perpetual, SOL, XAG, XRP, XAU, GOLD perpetual, PUMP, HYPE, and DOGE were among the most liquidated assets in the past 24 hours.
Whales and institutions continue to liquidate their holdings, though some buy-the-dip activity has been observed in recent hours. Trend Research deposited an additional 20,000 ETH to Binance, bringing the total to 53,588 ETH to repay a loan on Aave.
Also, Lookonchain reported that the Trump insider whale is selling ETH to repay debt on Aave. Over the past two days, this whale deposited 121,185 Ethereum ($292 million) into Binance and withdrew $92.5 million in stablecoins to repay the loan. The whale currently holds 30,661 Bitcoin ($2.36 billion) and 783,514 Ethereum ($1.78 billion) on-chain.
Source: https://coingape.com/crypto-market-crash-why-are-btc-xrp-eth-and-doge-prices-falling-today/