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Crypto World

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

South Korea Tightens Crypto Withdrawal Delay Exemptions

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South Korea Tightens Crypto Withdrawal Delay Exemptions

South Korea’s financial regulator said it will tighten the exception rules under crypto exchanges’ withdrawal-delay system after finding that scam-linked accounts granted exemptions accounted for most voice-phishing-related losses. 

The Financial Services Commission (FSC) said Wednesday that the strengthened framework, developed with the Financial Supervisory Service (FSS) and the Digital Asset eXchange Alliance (DAXA), will impose unified standards on when users can bypass withdrawal delays. 

The regulator said exchanges had been applying their own exception criteria with no clear minimum standard, creating loopholes that let bad actors quickly move funds if they meet easy requirements such as account age or trading history. 

From June to September 2025, accounts granted withdrawal-delay exemptions made up 59% of fraudulent accounts and 75.5% of related losses at crypto exchanges, the FSC said.

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The move follows a wider South Korean push to tighten crypto exchange controls after voice-phishing abuse and operational-control failures, including fresh reforms announced this week after Bithumb’s Bitcoin (BTC) payout error.

Transfer route and protection device for voice phishing damage through virtual assets, translated to English. Source: FSC

Unified rules aim to curb misuse of withdrawal-delay exemptions

The FSC said that under the new rules, exchanges must assess factors like trading frequency, account history and deposit and withdrawal amounts when determining whether a user qualifies for a withdrawal-delay exemption. 

The regulator said the change is expected to reduce the number of users eligible for exemptions sharply. The FSC said a simulation showed the share of users eligible for exemptions would fall to around 1% under the new rules, but did not provide a baseline for comparison.

Related: South Korean brokerage Korea Investment & Securities eyes Coinone stake: Report

The FSC said it will also strengthen oversight of users granted exemptions through periodic checks, including verification of the source of funds, and by building systems to monitor suspicious withdrawal activity. 

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The regulator added that they will continue reviewing the rules to prevent new circumvention methods and adjust as needed. 

The move adds to a broader push by South Korean regulators to tighten oversight of crypto exchanges following recent incidents. 

On Tuesday, the FSC ordered exchanges to reconcile internal ledgers with actual asset holdings every five minutes after an inspection linked to the Bithumb payout error found gaps in internal controls and risk management systems.

On Jan. 29, South Korea expanded crypto licensing scrutiny to cover exchanges and major shareholders. 

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Magazine: ‘Phantom Bitcoin’ checks, Drift hack linked to North Korea: Asia Express