We are stuck in a classic “rates still in charge” pause after the weekend washout.
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: ~$76,079, down about 2.7% on the day, range $73,112 to $78,337. (CoinGecko)
Ethereum: ~$2,238, down about 2.4%, range $2,117 to $2,324. (CoinGecko)
Solana: ~$96.18, down about 6.7%, range $95.32 to $103.34. (CoinGecko)
What actually drove today’s tape
Crypto stabilized after a sharp selloff, with Bitcoin rebounding from the low-$70,000s as dip buyers stepped in and volatility cooled. (CoinDesk)
The U.S. 10Y yield stayed elevated near 4.27%, keeping risk appetite constrained and making bounces feel more like stabilization than trend reversal. (Stooq)
Bitcoin ETF outflows remained a headwind in the background, reinforcing the “rates and flows” tape. (CoinDesk)
“Crypto equities” got a temporary relief catalyst
Bitcoin-linked proxies and crypto-facing names mostly traded like high-beta exposure to spot, with performance tied to whether BTC could hold its intraday base. (CoinDesk)
Flows stayed a key narrative driver, with ETF activity still influencing the tone around risk. (CoinDesk)
Broader markets context (risk appetite)
U.S. equities were weaker in the latest session, with the S&P 500 down about 0.84%, the Nasdaq down about 1.43%, and the Dow down about 0.34%, which kept the macro backdrop cautious for crypto. (Barchart)
Rates remained the macro gravity point, with the 10Y around 4.27% and sensitivity to yields still high across risk assets. (Stooq)
Key levels and “today read” (simple and usable)
Bitcoin: $80,000 is the psychological level; today’s $73,112 low is the first defend; reclaim $78,337 then $80,000 opens room toward $82,000.
ETH: Support sits near $2,117; reclaim $2,324 and then $2,400 would signal ETH strength is sticking rather than fading.
What to watch next (next 24 to 36 hours)
Wednesday, February 4, 2026, 4:15 PM ET: H.15 Selected Interest Rates (Federal Reserve)
Thursday, February 5, 2026, 8:30 AM ET: Unemployment Insurance Weekly Claims (U.S. Department of Labor)
Thursday, February 5, 2026, 4:30 PM ET: H.4.1 Factors Affecting Reserve Balances (Federal Reserve)
Today’s bottom line
Today was a stabilization day after the selloff, but the market is still trading like yields are in control. (CoinDesk) (Stooq)
A cleaner drop in the 10Y would be the simplest signal for risk to extend, while yields near 4.27% keeps rallies choppy. (Stooq)
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
Sources
