Markets look like a classic “rates still in charge” chop into fresh U.S. data.
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: ~$97,204, up about 2.6% on the day, range $94,778 to $97,953. (CoinGecko)
Ethereum: ~$2,656, up about 4.4%, range $2,542 to $2,674. (CoinGecko)
Solana: ~$203.30, up about 2.9%, range $196.91 to $206.47. (CoinGecko)
What actually drove today’s tape
Crypto stayed glued to rates and broader risk tone today, with dip buyers stepping in but follow-through staying selective. (Reuters)
The U.S. 10Y yield held near 4.24%, which kept traders focused on “macro first” and made breakouts harder to sustain. (Investing.com)
Markets also leaned into today’s ISM manufacturing release window, which tends to inject volatility into yields and high-beta assets. (ISM)
“Crypto equities” got a temporary relief catalyst
Crypto-linked proxies continued to trade as clean beta to spot, with flows tracking BTC direction more than any single-company story. (Reuters)
Broader markets context (risk appetite)
U.S. index futures were softer today, with S&P 500 futures down about 0.46% and Nasdaq futures down about 0.32%, which kept risk appetite measured. (CME Group) (Barchart)
Dow futures were little changed, suggesting a cautious tape rather than full de-risking. (Investing.com)
Rates stayed the macro gravity, with the U.S. 10Y around 4.24% today. (Investing.com)
With yields elevated, crypto can still bounce, but the market tends to demand cleaner catalysts to extend. (Reuters)
Key levels and “today read” (simple and usable)
Bitcoin: $100,000 is the psychological level; today’s $94,778 low is the first defend; reclaim $97,953 then $100,000 opens room toward $102,000.
ETH: Support sits near $2,542; reclaim $2,674 and then $2,750 would signal ETH strength is sticking rather than fading.
What to watch next (next 24 to 36 hours)
Monday, February 2, 2026, 10:00 AM ET: ISM Manufacturing PMI (ISM)
Tuesday, February 3, 2026, 10:00 AM ET: Job Openings and Labor Turnover Survey (JOLTS) (BLS)
Tuesday, February 3, 2026, 10:00 AM ET: U.S. economic release window risk for rates-sensitive assets (BLS)
Today’s bottom line
Today stayed rates-led: crypto bounced, but the market still treated yields as the main filter for risk-on follow-through. (Investing.com) (Reuters)
A durable move lower in the 10Y would be the cleanest “green light,” while yields near 4.24% keeps upside choppy and headline-sensitive. (Investing.com) (Reuters)
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
https://www.coingecko.com/en/coins/bitcoin
https://www.coingecko.com/en/coins/ethereum
https://www.coingecko.com/en/coins/solana
https://www.cmegroup.com/markets/equities/sp/e-mini-sandp500.html
https://www.barchart.com/futures/quotes/NQ*0/overview
https://www.investing.com/rates-bonds/u.s.-10-year-bond-yield
https://www.investing.com/indices/us-30-futures
https://www.bls.gov/schedule/news_release/current_year.asp
https://www.bls.gov/news.release/jolts.nr0.htm
https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/
