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Crypto Market Capitulates as Bitcoin Hits $60K Amid ETF Record Volume and Institutional Losses |
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February 6, 2026 |
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Today’s Setup
Bitcoin plunges toward $60K amid record ETF selling and expanding institutional losses
Market stress: Bitcoin price crash below $60,000 triggers $2.7 billion in liquidations and ETF outflows exceeding $545 million, driving extreme fear readings. Institutional pressure: Crypto treasury firms and key holders like Strategy and Bitmine report multi-billion dollar losses amid falling crypto prices. ETF milestones: BlackRock's Bitcoin ETF hits $10 billion in daily trading volume, signaling peak selling and market capitulation.
Watch: Monitor Bitcoin’s recovery attempts and ETF flow trends for potential market stabilization or deeper downside risks.
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Top Stories
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Bitcoin price crashes toward $60K in one of largest recorded liquidations amid capitulation
Bitcoin dropped below $60,000 on heavy selling pressure, wiping out over $2.7 billion in liquidations within 24 hours. The downturn erased 15 months of gains with institutional investors facing major risks. Market sentiment hit FTX-era lows with extreme fear taking hold.
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BlackRock’s Bitcoin ETF volume hits an unprecedented $10 billion amid market selloff
BlackRock's spot Bitcoin ETF reached a record $10 billion in daily trading volume, highlighting peak selling pressure and potential market capitulation as Bitcoin’s price collapsed.
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Bitcoin treasury firm Strategy reports $12.4 billion Q4 loss amid market downturn
Strategy recorded a $12.4 billion loss in Q4, paired with an 18-month low in its share price, underscoring severe institutional strain during the Bitcoin price collapse.
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XRP market suffers sharp losses despite legal clarity, institutional interest fractures
XRP dropped 15%, leading major declines among Ethereum, Dogecoin, and Bitcoin. Institutional exposure wanes despite ETF growth and legal clarity following Ripple's SEC settlement, creating mixed sentiment.
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Ethereum faces liquidation risk and shrinking USDT dominance as price nears 3-year lows
Ethereum undergoes high-stakes liquidation with a loan backed by 2.3% of AAVE tokens cascading liquidations, while TRON surpasses ETH in USDT liquidity dominance, signaling major shifts in DeFi markets.
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| Also on the Wire |
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Bitcoin Magazine
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• Publicly traded crypto treasury firms face rising bankruptcy risks amid deep losses on Bitcoin, Ethereum, and Solana holdings.
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Decrypt
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• Tom Lee’s Bitmine underwater by $8 billion as Ether falls below $2,000; however, Bitmine appears to be accumulating ETH amid broader sell-offs.
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CoinDesk
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• Gemini to exit UK, EU, and Australia markets due to regulatory pressures, shifting accounts to withdrawal-only starting March 5, 2026.
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CryptoNews
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• UK teens jailed for $4.3 million crypto wrench attack robbery after posing as delivery drivers in London.
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Decrypt
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• Bitwise files SEC registration for the first Uniswap-focused ETF, marking a new milestone in DeFi-related fund offerings.
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The Block
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