Cryptocurrency News Today: Market Updates & Analysis podcast.
Hey folks, Crypto Willy here, your go-to buddy for all things blockchain, Bitcoin, and decentralized dough. This week's crypto scene has been a wild rollercoaster, straight out of a bear market thriller, with Bitcoin plunging below $70,000 and dragging the whole market into free fall. According to Fortune, Bitcoin dipped to under $68,000—its lowest since October 2024, right before President Donald Trump's election win—wiping out all gains from that hype. Bloomberg Television reports it hit just above $66,000 on February 5, down nearly 9% in a day, as Nobel Laureate Paul Krugman called it a "total bust" while Fidelity's Jurrien Timmer eyed broader volatility.
Ethereum's no stranger to the pain, crashing 42% in three months to around $1,970 per Crypto.news, with a nasty drop to $1,923 by February 6 according to U.Today. Crypto.news details the four-hour MACD flipping green for a tiny bounce near $2,111, but RSI in the mid-30s screams sellers in control—no $3,000 party this February. Analyst Leshka from Crypto.news spots a fractal screaming 3x-4x upside in six months via supply squeeze, but only after this de-risking exhausts. Changelly predicts ETH averaging $2,085 in February, dipping to $1,891 today before a slow climb to $2,279 max. Litefinance's Elliott Wave pegs a near-term drop to $1,694.
XRP, Dogecoin, Solana? Finance Magnates says they're all hitting 2026 lows, Solana down 49% to $83. Coinbase stock tanked 50% to $151, MicroStrategy 54%, and Circle from $263 post-IPO to $52, per Fortune. Beto Aparicio from Offchain Labs blames political uncertainty, a potential February government shutdown, and a tightening Fed Chair nominee. Prediction markets on Kalshi have 58% betting Bitcoin sub-$60,000 this month. CryptoPotato recaps Bitcoin's free fall to $60,000 on Feb 5, shattering myths of it decoupling from tech stocks—Morningstar says it's just another speculative play now.
Macro risk appetite's gone cold, with Nasdaq down, VIX spiking over 21, gold and silver plunging. But hey, corrections birth legends—hang tight, stack sats wisely.
Thanks for tuning in, pals—catch you next week for more! This has been a Quiet Please production, and for me, check out Quiet Please Dot A I. Stay decentralized!
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