Crypto Ticker News Week 5: "Black Sunday" Plunge as Bitcoin Sinks Below $80k
A "Black Sunday" wipes out $2.2 billion in liquidations as Bitcoin drops below $80k. Discover what the new Fed leadership shift and SUI unlocks mean for Week 5.
On Sunday, February 1, the "Black Sunday" crash deepened, with real-time data showing a catastrophic breakdown of major support levels. The global market capitalization has contracted sharply, now sitting at approximately $2.67 Trillion as a wave of liquidations flushes out over-leveraged positions.
Recent Market Developments: The $79k Floor Breach
According to the latest exchange data, $Bitcoin has officially broken below the psychological $80,000 mark, currently trading at $79,002.54—a 4.67% drop in just 24 hours and a staggering 10.59% decline over the last week.
The carnage in $Ethereum is even more pronounced. $ETH has plummeted to $2,430.04, losing nearly 8% of its value in a single day and 17.20% over the past seven days. Analysts point to the nomination of Kevin Warsh as the next Fed Chair as a primary driver; his hawkish reputation has sparked fears of a prolonged "liquidity drain" and higher real interest rates, which are historically unfavorable for risk assets like crypto.
Important Upcoming Events: Week 5 Volatility
As the market searches for a bottom, several key events in Week 5 will determine if this is a temporary dip or the start of a longer bear phase:
- February 1: SUI & EIGEN Unlocks – Over $80 million in $SUI tokens are being unlocked today, contributing to the selling pressure seen in high-performance Layer 1s.
- February 3: Fintech Regulatory Summit (NYC) – Market participants will be listening closely for clues on how the new administration handles the recent market instability.
- February 5-6: Digital Assets Forum (London) – This gathering of institutional heavyweights will serve as a litmus test for "dip buying" sentiment among big banks.
- Geopolitical Watch – Tensions in the Middle East and a brief U.S. government shutdown continue to weigh heavily on global risk appetite.
Top 10 Coins: The "Black Sunday" Bloodbath
The top 10 assets are almost entirely in the red, with significant losses across the board:
| Asset | Price (Current) | 24H Change | 7D Change | Market Analysis |
|---|---|---|---|---|
| Bitcoin (BTC) | $79,002.54 | -4.67% | -10.59% | First time below $80k since early 2025. |
| Ethereum (ETH) | $2,430.04 | -7.95% | -17.20% | Massive technical breakdown below $2,500. |
| Solana (SOL) | $105.61 | -8.96% | -16.55% | Approaching the critical $100 psychological floor. |
| BNB (BNB) | $780.70 | -6.64% | -11.26% | Reversing recent gains amid broader market flight. |
| XRP (XRP) | $1.66 | -1.86% | -12.19% | Showing slight relative resilience but still down sharply on the week. |
| Dogecoin (DOGE) | $0.1061 | -4.89% | -13.66% | Retail sentiment is rapidly cooling during the flush-out. |
To navigate this extreme volatility, ensure you are using a platform with high liquidity by checking our exchange comparison. With $2.6 billion in liquidations reported, protecting your assets in a non-custodial way is critical; see our hardware wallets comparison for the latest security models.
Technical Summary: Where is the Bottom?
Technically, the market is in "oversold" territory, but momentum remains firmly bearish. For Bitcoin, the next major support zone lies at $74,500. If the weekly candle closes below $80k, it could signal a shift in the medium-term market structure. Meanwhile, Hyperliquid (HYPE) stands out as a rare green shoot, up 40.61% over the last 7 days despite the crash, as traders flock to decentralized perpetual platforms during the chaos.
