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BTC, BNB, ADA, AVAX rebound

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Crypto prices today (Feb. 2): BTC dips below $75K, XRP, LINK, XMR slide amid market crash

Crypto prices today saw modest gains after a violent weekend sell-off cooled, offering the first signs of stabilization following days of forced deleveraging.

Summary

  • Bitcoin and large-cap altcoins staged a relief rebound after forced selling slowed.
  • Liquidations dropped sharply, easing pressure across derivatives markets.
  • Analysts say downside risks remain despite early signs of stabilization.

Bitcoin was trading at $78,465 at press time, up 5.2% over the past 24 hours. The broader crypto market also gained ground, with total market capitalization rising 2.8% to $2.7 trillion.

Several large-cap tokens followed BTC higher. BNB climbed 5.3% to $769, Cardano rose 7.2% to $0.2975, and Avalanche gained 5.3% to $10.09. The market is still in extreme fear despite the rebound, as evidenced by the Crypto Fear & Greed Index, which rose three points to 17.

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Trading activity showed early signs of recovery. With total crypto open interest rising 4% to $110 billion, traders appear to be gradually re-entering the market following last week’s leverage flush.

Leverage unwind eases after weekend capitulation

The rebound comes after one of the most aggressive liquidation events since late 2025. Thin weekend liquidity amplified selling pressure as over-leveraged long positions were forced out across the market.

Between Jan. 31 and Feb. 2, total liquidations repeatedly topped $2 billion in single sessions, with one peak reaching roughly $2.5 billion on Feb. 1. Long positions accounted for the vast majority of losses, wiping out thousands of traders and triggering a self-reinforcing cycle of margin calls and forced selling.

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That pressure has eased. CoinGlass data shows 24-hour liquidations fell 44% to about $401 million, a sharp drop from weekend extremes. With much of the excess leverage cleared, selling linked to liquidations has slowed, allowing dip buyers and longer-term investors to step in without immediate counter-pressure.

Additionally, the larger background has somewhat stabilized. Risk assets had sold off alongside equities and precious metals amid macro uncertainty, geopolitical tensions, and policy jitters. As those pressures cooled slightly, crypto followed suit, catching a relief bounce after reaching deeply oversold levels.

Analysts warn downside risks are not gone

Even though prices have recovered, experts are still hesitant to declare a long-term bottom. Bitcoin is still down roughly 12% on the week and about 40% from its October peak near $126,000, keeping the market in a corrective phase.

Views on what comes next remain split, with some watching for consolidation and others warning of another leg lower if macro stress returns. In a commentary shared with crypto.news, Ray Youssef, CEO of NoOnes, said bearish sentiment is likely to dominate the first half of the year as capital continues rotating into traditional safe havens.

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“The latest crypto market sell-off occurred amidst capital outflows into precious metals, whose prices are rising amid geopolitical and macroeconomic uncertainty,” Youssef said, adding that political risks and policy instability are weighing heavily on investor confidence.

Youssef flagged the $73,000 area as a critical support zone for Bitcoin, warning that sustained geopolitical pressure or renewed liquidation waves could drag prices lower if buyers fail to defend it. He also pointed to Japan’s economic risks and global policy uncertainty as factors that could spill into crypto markets.

For now, traders appear focused on whether this rebound can extend beyond a short-term relief move. Much will depend on whether spot demand continues to absorb supply, and whether leverage stays in check after one of the most punishing shakeouts of the cycle so far.

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Crypto World

Why Cardano Investors Are Moving Assets to Self-Custody Now

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ADA Price


“Currently, a 10 billion market cap, this thing is not even worth $1 billion,” one X user argued.

The latest cryptocurrency market crash was brutal, sending Cardano’s ADA to multi-month lows.

Some analysts believe the storm may not be over, warning the price could nosedive by as much as 75% in the short term.

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The Bad Days for the Bulls Aren’t Over?

Several hours ago, ADA plunged to 0.27, the lowest level since August 2024. Currently, it trades at around $0.29 (per CoinGecko’s data), representing a 15% decline on a weekly scale.

ADA Price
ADA Price, Source: CoinGecko

The well-known analyst DrBullZeus claimed that the asset is now nearing “a must hold support zone” at the range of $0.24-$0.28. He thinks that breaking below that level could result in a price crash to $0.125 and even $0.075.

The popular trader Matthew Dixon also chipped in. He suggested that “technically speaking,” ADA has retraced in three waves since the local top seen towards the end of 2024. He outlined $0.24 as a “very important long-term support,” predicting that as long as it holds, the price could rebound.

“A break of support would be a serious concern,” he alerted.

Prior to that, Harmonic Trader predicted that in six months, ADA might trade under $0.10. “Currently, a 10 billion market cap, this thing is not even worth $1 billion,” they argued.

Time to Rally?

Despite ADA’s recent price decline, some other analysts remain optimistic that a resurgence could be on the way. One of them, using the X nickname “Lucky,” asked their almost two million followers whether they plan to increase their exposure to the token at current rates. The analyst also envisioned a potential pump to nearly $1 in the near future.

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LaPetite is also bullish. Several days ago, he forecasted that ADA is about to go “parabolic,” claiming that “huge announcements” concerning Cardano are coming soon.

The recent exchange netflows signal that a rebound could indeed be on the horizon. Data provided by CoinGlass shows that over the past days and weeks, outflows have significantly outpaced inflows. This means investors have been shifting from centralized platforms to self-custody, which in turn reduces immediate selling pressure.

ADA Exchange Netflow
ADA Exchange Netflow, Source: CoinGlass
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Aave Shutters Avara Brand and Family Crypto Wallet

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Aave Shutters Avara Brand and Family Crypto Wallet

Aave Labs says it is sunsetting its “umbrella brand” Avara in the company’s latest move to refocus on decentralized finance and simplify its branding.

Aave founder and CEO Stani Kulechov posted to X on Tuesday that Avara, a company encompassing projects including the Family crypto wallet and previously the social media platform Lens, “is no longer required as we go all in on bringing Aave to the masses.”

Kulechov said the Apple iOS-based Family crypto wallet was also being wound down as the team has “learned that onboarding millions of users requires purpose-built experiences, such as savings, rather than generic, open-ended wallet experiences.”

The move marks Aave’s latest effort to refocus on products such as its flagship lending protocol as the project handed stewardship of Lens to the Mask Network last month, with Kulechov saying Aave’s role in the protocol would be reduced to an advisory role so it can focus on DeFi.

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Source: Stani Kulechov

Kulechov said in his latest post that Aave was “now united as one team of world-class designers, engineers, and smart contract experts, aligned around a single mission: bringing DeFi to everyone.”

All future projects under Aave Labs

Avara said in a blog post that “all current and future products, including the Aave App, Aave Pro, and Aave Kit, will operate under Aave Labs” to simplify the brand.

It added that accounts linked to the Family wallets “will continue as core infrastructure within Aave Labs products,” but the iOS app would be wound down over the next year.

No new users will be onboarded to the app from April 1, and existing users can continue using the app until April 1, 2027, and will continue to have full access to their funds on Aave’s website.

Related: There is no trust in DeFi without proper risk management

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Aave is the biggest DeFi protocol with $30 billion in total value locked, nearly $9 billion more than the next largest project, the staking protocol Lido, which has $21.7 billion in value locked, according to DefiLlama.