Crypto Market Update: Bitcoin Holds Firm as Yields Keep Traders Cautious (Feb 3, 2026)

Markets look like a classic “rates still in charge” setup.
By OnChain Revolution • 10 minutes ago
A snapshot of today’s market action, key levels to watch for Bitcoin and Ethereum, and what to expect from upcoming economic data.

Crypto snapshot
Bitcoin: ~$94,132, up about 3.2% on the day, range $91,033 to $94,261. (CoinGecko)
Ethereum: ~$2,572, up about 2.8%, range $2,486 to $2,582. (CoinGecko)
Solana: ~$197.81, up about 2.1%, range $191.85 to $197.89. (CoinGecko)

What actually drove today’s tape
Crypto firmed with risk sentiment holding up while traders stayed focused on the rate backdrop, which kept the tape “macro-led” instead of narrative-led. (Bloomberg)
The U.S. 10Y yield was still elevated near 4.29%, which continued to cap follow-through and kept rallies feeling more like positioning than a clean breakout. (Stooq)
U.S. equity futures were modestly higher, which helped BTC hold the bid while higher-beta names tried to stabilize into the next data prints. (Stooq) (Stooq)

“Crypto equities” got a temporary relief catalyst
Crypto-linked proxies generally tracked spot as traders treated them as high-beta expressions of the same “rates-first” tape rather than a separate catalyst story. (Bloomberg)

Broader markets context (risk appetite)
U.S. stock futures were slightly green, with S&P 500 futures up about 0.13%, Nasdaq futures up about 0.40%, and Dow futures up about 0.02%, which is supportive for crypto at the margin when positioning is fragile. (Stooq)
Rates stayed the key macro input, with the U.S. 10Y around 4.29% today and the market still pricing crypto like a duration-sensitive risk asset. (Stooq)

Key levels and “today read” (simple and usable)
Bitcoin: $95,000 is the psychological level; today’s $91,033 low is the first defend; reclaim $94,261 then $95,000 opens room toward $98,000.
ETH: Support sits near $2,486; reclaim $2,582 and then $2,650 would signal the bounce is sticking rather than fading.

What to watch next (next 24 to 36 hours)
Tuesday, February 3, 2026, 10:00 AM ET: Job Openings and Labor Turnover Survey (JOLTS) (BLS)
Wednesday, February 4, 2026, 10:00 AM ET: Metropolitan Area Employment and Unemployment (January 2026) (BLS)
Wednesday, February 4, 2026, 6:30 PM ET: Federal Reserve speech event (Fed calendar)

Today’s bottom line
Today is still a rates-led tape, and the crypto bounce is real but does not look “free” while the 10Y is hovering near 4.3%. (Stooq)
A clean drop in yields would be the clearest signal for risk to extend, while sticky yields keep upside choppy and headline-sensitive. (Bloomberg)

Disclaimer: The above article is for informational purposes only and does not constitute financial advice. The cryptocurrency market is volatile and unpredictable; always conduct your research before investing