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Bitcoin (BTC) Stopped at $79K, Hyperliquid (HYPE) Rockets by Double Digits: Market Watch

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BTCUSD Feb 3. Source: TradingView


HYPE continues to defy the overall market crash, posting another substantial increase over the past 24 hours.

After charting a new nine-month low beneath $75,000, bitcoin’s price rebounded in the past 24 hours but failed at $79,000, and now sits inches below it.

Aside from HYPE and CC, both of which have posted notable gains within the same timeframe, most other larger-cap alts are quite sluggish.

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BTC Capped at $79K

It has been a tough week for the primary cryptocurrency, and there were little to no indications by last Wednesday about how grim the situation could get. On Wednesday, the asset tapped $90,000 but was stopped there and began its gradual descent after the US Fed paused the interest rate cuts.

The escalating tension in the Middle East was blamed for Thursday’s substantial crash when BTC slumped to a multi-month low of $81,000. It rebounded on Friday and early Saturday to $84,000, while the precious metal market crashed, but the situation worsened once again during the weekend.

In a rather untypical manner for a Saturday afternoon and evening, bitcoin crumbled from $83,000 to $76,000. It regained some traction on Sunday but crashed again on Monday morning to under $75,000 – the lowest level since April last year.

It bounced off in the following hours and challenged $79,000, where it was stopped and now sits below it. Its market cap is down to $1.560 trillion, while its dominance over the alts on CG is up to 57.7%.

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BTCUSD Feb 3. Source: TradingView
BTCUSD Feb 3. Source: TradingView

HYPE on the Run

Most larger-cap alts followed bitcoin on the way south over the past several days. Ethereum was hit very hard, dropping from over $3,000 toward $2,100. Despite rebounding since then, it still struggles below $2,300.

XRP, TRX, and XLM are slightly in the red, while SOL, BNB, ADA, and BCH have posted insignificant gains. HYPE has stolen the show once again, surging by 19% to $37. CC is the other big gainer with a 8% pump to over $0.19.

The total crypto market cap has regained $70 billion since yesterday’s low and is above $2.7 trillion on CG now.

Cryptocurrency Market Overview Daily Feb 3. Source: QuantifyCrypto
Cryptocurrency Market Overview Daily Feb 3. Source: QuantifyCrypto
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Pumpfun Unveils Investment Arm and $3 Million Hackathon

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Pumpfun Unveils Investment Arm and $3 Million Hackathon


PUMP rallied as much as 10% but erased its gains as crypto markets dipped.

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Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

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Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

Assets in spot Bitcoin (BTC) ETFs slipped below $100 billion on Tuesday following a fresh $272 million in outflows.

According to data from SoSoValue, the move marked the first time spot Bitcoin ETF assets under management have fallen below that level since April 2025, after peaking at about $168 billion in October

The drop came amid a broader crypto market sell-off, with Bitcoin sliding below $74,000 on Tuesday. The global cryptocurrency market capitalization fell from $3.11 trillion to $2.64 trillion over the past week, according to CoinGecko.

Altcoin funds secure modest inflows

The latest outflows from spot Bitcoin ETFs followed a brief rebound in flows on Monday, when the products attracted $562 million in net inflows.

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Still, Bitcoin funds resumed losses on Tuesday, pushing year-to-date outflows to almost $1.3 billion, coming in line with ongoing market volatility.

Spot Bitcoin ETF flows since Jan. 26, 2026. Source: SoSoValue

By contrast, ETFs tracking altcoins such as Ether (ETH), XRP (XRP) and Solana (SOL) recorded modest inflows of $14 million, $19.6 million and $1.2 million, respectively.

Is institutional adoption moving beyond ETFs?

The ongoing sell-off in Bitcoin ETFs comes as BTC trades below the ETF creation cost basis of $84,000, suggesting new ETF shares are being issued at a loss and placing pressure on fund flows.

Market observers say that the slump is unlikely to trigger further mass sell-offs in ETFs.

“My guess is vast majority of assets in spot BTC ETFs stay put regardless,” ETF analyst Nate Geraci wrote on X on Monday.

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Source: Nate Geraci

Thomas Restout, CEO of institutional liquidity provider B2C2, echoed the sentiment, noting that institutional ETF investors are generally resilient. Still, he hinted that a shift toward onchain trading may be underway.

Related: VistaShares launches Treasury ETF with options-based Bitcoin exposure

“The benefit of institutions coming in and buying ETFs is they’re far more resilient. They will sit on their views and positions for longer,” Restout said in a Rulematch Spot On podcast on Monday.

“I think the next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs. We’re expecting the next wave of institutions to be the ones trading the underlying assets directly,” he noted.