Hey folks,
Welcome back to your weekly snapshot of crypto insights, where we cover major trends, market moves, policy shifts, and must-know developments from the crypto space.
Bitcoin and the global crypto market had a roller-coaster ride, but rebounded toward the end of the week, though the strength of the recovery will be tested this week. After experiencing volatility during the week, BTC rebounded in the range of $66K–$70K and eventually consolidated between $70K and $72K. Join us as we take you on a guided tour of the crypto world.
BTC saw a volatile week marked by sharp de-risking, leverage flushes, and tentative stabilization. Early in the week, dip buying near $75K supported a rebound toward $79K, but upside follow-through remained weak as sellers capped rallies. Midweek sentiment deteriorated rapidly, with BTC breaking below key $73K–$74K support, triggering long liquidations and accelerating downside momentum. By Friday, a broader global liquidity squeeze drove synchronized selling across assets, pushing BTC to a seven-day low near $62.5K and erasing risk appetite across crypto and traditional markets alike. Toward the weekend, forced selling largely exhausted, allowing dip buyers to step in. BTC rebounded into short-heavy zones between $66K–$70K, fueling a short-covering rally and subsequent consolidation around $70K–$72K. Near-term, resistance sits at $72K–$73.5K, while $68K–$69K remains key support as markets attempt to stabilize.
ETH too saw a sell-off, hitting a low near $1.80K as leveraged positions were forced out. Buyers stepped in, pushing the price back above $2K. Since then, ETH has been moving sideways, showing stabilization but not a strong recovery yet. Resistance sits near $2.10K, while support remains around $1.95K. In other updates, MetaMask has partnered with Ondo Finance to let eligible non-US users buy, hold, and trade 200+ tokenized U.S. stocks, ETFs, and commodities directly in-wallet.
In stablecoins, Circle partnered with Polymarket to make native USDC the primary settlement and collateral asset on Polymarket, replacing bridged USDC on Polygon. The move aims to improve institutional-grade settlement as volumes surge, with Polymarket seeing strong growth. One of the crypto exchanges mistakenly sent 2K BTC instead of 2K KRW to over 200 users during a promo, triggering panic selling and BTC/KRW trading nearly 18% below market. Billions were reportedly withdrawn. Korean regulators are investigating, with estimates suggesting the error could amount to $30 billion. Lastly, Web3 reported $370.3 million in crypto losses in January, with phishing accounting for $311.3 million, mostly from a single social-engineering scam targeting one user. Non-phishing exploits were minor.
Top performers among altcoins were MYX Finance (MYX), Aster (ASTER), and WhiteBIT Coin (WBT).
Weekly price movement:
BTC $69,862 ⏬ 8.89% (1W)
ETH $2,049 ⏬ 8.51% (1W)
MYX $6.39 ⏫ 12.76% (1W)
ASTER $0.6105 ⏫ 9.67% (1W)
WBT $52.82 ⏫ 6.7% (1W)
(All data here as of 2:30 p.m., 9 February 2026)
Before we conclude, here’s a quick look at some important news from around the crypto world.
Ethereum domain name service provider ENS has canceled plans to launch a layer-2 as part of its ENSv2 upgrade, opting instead to launch a revamped protocol directly on Ethereum. In a blog post on Friday, ENS lead developer nick.eth explained that the decision was partly due to a “99% reduction in ENS registration gas costs over the past year” amid a number of important upgrades to the Ethereum network, according to Cointelegraph.
Japan’s Nikkei 225 surged to a record on Feb. 9, breaching the 57,000 level with a 3.4% gain following Prime Minister Sanae Takaichi’s decisive “supermajority” victory in the Sunday general election, according to Nikkei Asia. The “Takaichi trade” sparked a global ripple effect, driving gold prices past the $5,000 per ounce milestone and pushing bitcoin to a brief peak of $72,000, before settling back above $70,000 during Asian morning trading hours, according to CoinDesk.
That’s it for now. Thanks for sticking around.
See you later, folks! 👋
