According to data from 10:40 AM on February 6th, the cryptocurrency market is in a clear downward correction phase. Excluding stablecoins USDT and USDC, almost all major cryptocurrencies showed declines across 24-hour, 7-day, and 30-day timeframes, indicating that the selling pressure is not a short-term event but rather a continued trend correction.
| Currency | price | 24h | 7d | 30d | Market capitalization |
|---|---|---|---|---|---|
| Bitcoin (BTC) | $64,970.00 | ▼10.31% | ▼20.54% | ▼30.01% | $1.29T |
| Ethereum (ETH) | $1,918.05 | ▼10.76% | ▼29.72% | ▼41.16% | $231.5B |
| BNB | $624.75 | ▼10.52% | ▼25.73% | ▼31.28% | $85.2B |
| XRP | $1.26 | ▼14.36% | ▼27.40% | ▼44.23% | $77.0B |
| Solana (SOL) | $77.66 | ▼15.88% | ▼31.61% | ▼44.18% | $44.0B |
| TRON (TRX) | $0.2702 | ▼4.00% | ▼7.31% | ▼8.16% | $25.6B |
| Dogecoin (DOGE) | $0.08970 | ▼13.45% | ▼21.51% | ▼39.21% | $15.1B |
| Hyperliquid (HYPE) | $35.42 | ▲4.62% | ▲23.27% | ▲27.17% | $9.2B |
| Bitcoin Cash (BCH) | $449.45 | ▼16.39% | ▼16.23% | ▼29.21% | $9.0B |
| Cardano (ADA) | $0.2473 | ▼13.94% | ▼23.70% | ▼39.94% | $8.9B |
Bitcoin breaks below key range: monthly drop reaches 30%.
Bitcoin (BTC) is currently priced at $64,970, down 10.31% in the last 24 hours, 20.54% in the last 7 days, and a further 30.01% drop in the last 30 days. As a market bellwether, such a significant pullback in Bitcoin has directly dragged down the overall cryptocurrency market performance.
In terms of market capitalization, BTC still stands at a staggering $1.29 trillion, with a 24-hour trading volume exceeding $143.1 billion, indicating that despite the dramatic fluctuations, market trading remains active, though most of the activity is driven by hedging or stop-loss orders.
Ethereum and other public blockchains are under pressure: ETH, SOL, and BNB see further declines.
Ethereum (ETH) has suffered an even steeper decline, currently trading at $1,918.05, a 41.16% drop in the last 30 days and nearly 30% in the last 7 days, indicating a significant outflow of funds from smart contracts and the DeFi ecosystem.
Other public blockchain cryptocurrencies also performed poorly:
BNB: Down 31.28% in 30 days
Solana (SOL): Down 44.18% in 30 days, one of the biggest drops among major cryptocurrencies.
Cardano (ADA): Down 39.94% in a single month.
This shows that even public blockchains with mature ecosystems are finding it difficult to remain unaffected by this round of market correction.
XRP, DOGE, and BCH: Highly Volatile Assets Hit Hardest
Payments and established cryptocurrencies were not spared either. XRP is currently trading at $1.26, a 30-day drop of 44.23%; Dogecoin (DOGE) has fallen by 39.21%, indicating a significant decrease in market risk tolerance for Meme coins.
Bitcoin Cash (BCH) is priced at $449.45, down 29.21% in 30 days. Although the decline is slightly less than that of some major cryptocurrencies, it still experienced a sharp drop of 16.39% in 24 hours, and the risk of short-term volatility should not be ignored.
TRON showed relative resilience, while Hyperliquid emerged as the only bright spot.
Amidst widespread declines, TRON (TRX) remained relatively stable, falling only 8.16% over the 30 days, a significantly smaller drop than other major cryptocurrencies, indicating a relatively sound capital structure.
The most eye-catching is Hyperliquid (HYPE). Currently trading at $35.42, it has not only risen 4.62% in the last 24 hours, but also seen gains of 23.27% and 27.17% over the last 7 and 30 days respectively. It is the only coin on the list to maintain positive growth across all three time periods, indicating that market funds are seeking relatively strong new narrative targets.
The market has entered a period of deep correction, and investors are clearly adopting a defensive stance.
The data released indicates that the cryptocurrency market is currently in a clear downtrend correction phase, with most major cryptocurrencies experiencing monthly declines ranging from 30% to 45%, reflecting the combined impact of macroeconomic pressures and a lack of market confidence. In the short term, the market is likely to remain highly volatile, and investors should carefully assess the risks and avoid excessive leverage.
This article, titled "The Sell-Off Intensifies! Bitcoin Drops Over 30% and Ethereum Drops 40% in 30 Days, Market Panic Clearly Rising," first appeared on ABMedia, a ABMedia .
