Current Cryptocurrency News for Saturday, February 7, 2026: Key Events in the Global Crypto Market, Institutional Trends, and Overview of the Top 10 Most Popular Cryptocurrencies for Investors.
The global cryptocurrency market concludes the first week of February with a sharp decline. Bitcoin has dropped to levels not seen since 2024, and other leading crypto assets have suffered significant losses. The total market capitalization has decreased by nearly $2 trillion compared to the peak in October 2025, reflecting a mass sell-off amid deteriorating investor sentiment. Simultaneously, regulators around the world are increasing scrutiny of the industry, adding further uncertainty to the market.
Overall Market Situation
Following a tumultuous rise last year, the crypto market is facing a major correction. By the beginning of February, a “crypto winter” is observed— a cooling period where cryptocurrency prices are either declining or stagnating. Investors are taking profits and moving into safer assets, leading to a decrease in trading volumes and liquidity. Below are the main factors that contributed to the current market decline:
- Macroeconomic Pressure: Increasing uncertainty in traditional markets. The sell-off of tech stocks and volatility in gold and silver prices have reduced the appetite for riskier assets, including cryptocurrencies.
- Tight Monetary Policy: Expectations for tighter policies from the US Federal Reserve. The nomination of a new Fed chair known for hawkish views has heightened concerns over liquidity tightening in the economy, negatively impacting crypto assets.
- Outflow of Institutional Investments: Major funds and ETFs that actively bought Bitcoin in 2025 began to sell off in 2026. Monthly outflows from Bitcoin ETFs amount to billions of dollars, signaling a decline in interest from traditional investors.
- Low Liquidity and Diminishing Hype: After reaching price peaks last year, the market has entered a cooling phase. Reduced trading volumes and the disappearance of the FOMO (fear of missing out) effect mean that any selling places greater downward pressure on prices.
- Regulatory Uncertainty: Increased oversight of the industry in many countries (from new legislation in the US to bans in China) is causing some market participants to act cautiously and withdraw capital, which also affects prices.
Bitcoin (BTC)
Bitcoin has continued its decline, setting the tone for the entire crypto market. As of the morning of February 7, its price hovers around $63,000, marking a year-long low. Since the start of 2026, the first cryptocurrency has dropped approximately 30%. By comparison, in October 2025, Bitcoin reached an all-time high of over $127,000, after which it consolidated around $90,000 by the end of the year. Breaking down below the psychologically significant $70,000 level triggered a wave of liquidations: in recent days, forced closures of margin positions totaling around $1 billion have intensified price pressure.
Experts note that the current decline is largely due to external factors. Bitcoin, which in past years was viewed by some investors as "digital gold" and a hedge against inflation, is now trading more like a risk asset, correlating with declines in stock indices. An additional blow to sentiment was the appointment of Kevin Warsh—a well-known proponent of tightening monetary policy—as the new Fed chair. Expectations of a shrinking Fed balance sheet have led to some capital exiting Bitcoin. Notably, amidst the current dynamics, the price of BTC has effectively returned to levels preceding Donald Trump’s victory in the US elections, despite his proclaimed support for cryptocurrencies.
Ethereum (ETH)
The second-largest cryptocurrency by market cap, Ethereum, is also experiencing significant declines. The price of ETH has fallen below the psychological level of $2,000 and is trading around $1,850, losing about 19% over the past week. Since the beginning of the year, Ethereum has dropped nearly 40%. Just last December 2025, Ethereum was above $3,000, but the overall negative sentiment and outflow of funds from risk assets have affected this leading altcoin as well.
The fundamental factors for Ethereum remain unchanged: the network continues to be the foundational platform for decentralized finance (DeFi) and smart contracts, successfully transitioning to a Proof-of-Stake algorithm. However, during the current correction phase, even technologically strong projects are suffering losses. Price pressure on ETH is also exacerbated by competition from alternative blockchains and Layer-2 solutions. Many investors have reduced their positions in Ethereum, awaiting market stabilization and clearer signals of demand recovery for risk.
Altcoin Market: XRP, BNB, and Others
Altcoins– other major cryptocurrencies aside from Bitcoin and Ethereum – have also been under significant pressure in recent days. Bitcoin's dominance index has risen as investors prefer the most liquid and time-tested BTC during times of turbulence, exiting riskier coins. However, nearly all top assets have experienced double-digit percentage losses over the week:
BNB, the native token of the Binance exchange, has dropped to around $660 (over 15% down for the week). BNB’s quotations are influenced by both the overall market decline and ongoing strict regulatory scrutiny of crypto exchanges. Last year, BNB reached all-time highs amid the growth of the Binance Smart Chain ecosystem, but it has now reversed to levels seen in late 2024.
XRP (Ripple) has settled around $1.3, losing a significant portion of its value compared to local peaks last year (in 2025, XRP had risen above $2 after a partial victory by Ripple in its lawsuit with the SEC). Despite legal clarity in the US and XRP being included in the list of reserve cryptocurrencies backed by the Trump administration, the current market downturn has also impacted the token. Nevertheless, XRP remains one of the largest cryptocurrencies used for cross-border payments and maintains high trading volumes.
Platform tokens Cardano (ADA) and Solana (SOL), among the most popular altcoins, have also declined in price. SOL decreased by about 15-20% over the week, falling to the $90-$100 range, despite continued technical development of the Solana network. ADA is trading around $0.30, nearly 15% lower than the previous week's level. Previously, Cardano attracted investor attention with the anticipation of launching ETFs on its underlying assets and protocol upgrades, but under the current "risk-off" sentiment, such news has taken a back seat.
Meme cryptocurrencies have not escaped the downturn either. The popular coin Dogecoin (DOGE), supported by its community and periodically by Elon Musk, has dropped below $0.10, reflecting the overall decline in speculative interest. Even in the absence of negative news, DOGE and similar tokens are losing value along with the market. Meanwhile, some coins associated with gaming and metaverse projects are showing relative resilience; however, the altcoin segment overall is demonstrating a decline in market capitalization.
Amid falling prices, investors have increased their shift to stable digital currencies—stablecoins. The leading stablecoin Tether (USDT) retains its peg to the dollar at around $1 and is showing increasing transaction volumes as many are converting funds into a less volatile form. The same applies to USD Coin (USDC) and other stablecoins, whose demand has risen during this period of turbulence. However, regulatory risks surrounding stablecoins are also rising (for instance, new restrictions have been introduced in China, as noted below), adding another layer of uncertainty to the market.
Regulation: USA and China
The regulatory environment at the beginning of 2026 is forming mixed trends for the crypto industry. On one hand, in the USA, the new administration declares support for digital assets. President Donald Trump, who returned to the White House in 2025, has called the country the “crypto capital of the world” and initiated the establishment of a national strategic reserve in cryptocurrency. This reserve includes the five largest coins at the time: Bitcoin, Ethereum, XRP, Cardano, and Solana. Furthermore, the GENIUS Act has been passed, establishing regulations for the industry, including the oversight of stablecoins and consumer protection. In January 2026, bills regarding the market structure of cryptocurrencies are being promoted in Congress, which will determine which agencies will oversee digital assets. The White House is actively mediating between strict rule supporters and industry groups, requiring a compromise on stablecoin regulation by the end of February.
On the other hand, restrictions are tightening in a number of countries. In China, authorities have reaffirmed their hardline stance: the People's Bank of China issued a notice on February 6 prohibiting the issuance of stablecoins pegged to the yuan without official approval. Essentially, Beijing is curtailing any attempts by local companies to create or disseminate yuan-pegged digital tokens abroad. Chinese regulators also reminded that all operations with virtual currencies inside the country are considered illegal financial activities. These measures underscore China's readiness to fully control currency circulation and prevent circumvention of currency restrictions through crypto instruments. Analysts note that such news about bans increases investor caution and may temporarily affect the demand for cryptocurrencies in the Asian region.
At the same time, other jurisdictions are seeking to find balance. In the European Union, the regulatory framework law MiCA (Markets in Crypto-Assets) is beginning to operate fully, aiming to provide clear rules for the crypto industry across the EU. Many market participants expect that clear requirements from regulators will ultimately attract more institutional investment, but in the short term, increased oversight often accompanies caution among major players.
Top 10 Most Popular Cryptocurrencies
Despite current price fluctuations, leading cryptocurrencies remain at the forefront of investor interest. Below is a list of the top 10 most popular and significant cryptocurrencies as of today, along with their characteristics and roles in the market:
- Bitcoin (BTC) – The first and largest cryptocurrency, serving as a digital analogue to gold. It possesses the highest market capitalization and recognition. Used as a means of savings and hedging, although it has been behaving like a risk asset recently. Bitcoin accounts for about 40% of the entire market.
- Ethereum (ETH) – The largest smart contract platform. Ethereum underpins the DeFi, NFT, and many blockchain applications. It has the second-largest market after Bitcoin. Ethereum's transition to a Proof-of-Stake mechanism has improved the scalability of the network and attracted additional institutional investor attention.
- Binance Coin (BNB) – The token of the largest cryptocurrency exchange Binance and a key asset of its blockchain (BSC). BNB is used for fee payments, participating in new projects, and other ecosystem services. The coin has grown due to Binance's dominance in the market, although it faces regulatory risks due to oversight of the exchange.
- Ripple (XRP) – A cryptocurrency focused on fast and cheap international payments. Issued by Ripple, it integrates into banking systems for cross-border transfers. XRP has gained traction among financial institutions and retained its position in the top 5 despite past legal disputes with regulators. It is characterized by high transaction speeds and low fees.
- Solana (SOL) – A high-speed blockchain positioned as a platform for decentralized applications and Web3. Solana attracts developers with high throughput and low fees. In 2021-2022, SOL experienced explosive growth, ranking among the largest crypto assets. Despite recent corrections, Solana remains one of Ethereum’s main competitors in the smart contract space.
- Cardano (ADA) – A blockchain platform developed with a focus on scientific approaches and code reliability. The project is progressing slower than some competitors, implementing new features incrementally, but has a large community. ADA—the internal token of Cardano—is used for staking and conducting transactions on the network. Cardano frequently makes headlines with its network updates and initiatives to launch ETFs on related assets.
- Dogecoin (DOGE) – The most famous “meme coin,” initially created as a joke but has since gained immense popularity. DOGE features high emission and low price per coin but draws attention due to community support and endorsement from prominent personalities. It is used as a tip medium online and for micropayments, is volatile, and heavily depends on social media sentiment.
- TRON (TRX) – A blockchain platform focusing on entertainment and the content industry. TRON offers high transaction speeds and zero fees, attracting applications for content sharing and decentralized gaming. The TRX token is actively used in the Asian region. The TRON network is also known for producing a significant number of stablecoins (including USDT), ensuring steady transaction volumes.
- Polkadot (DOT) – A project aimed at uniting various blockchains into a single ecosystem. Polkadot implements the concept of "parachains," allowing different networks to interact with each other. The DOT token serves for staking and governance within the network. Polkadot has gained wide recognition due to its co-founder (Gavin Wood, a former Ethereum developer) and its vision of blockchain interoperability, securing a spot in the top 10 by market capitalization.
- Polygon (MATIC) – A Layer-2 scaling solution for Ethereum, previously known as Matic Network. Polygon provides infrastructure for faster and cheaper transactions on top of the Ethereum network, attracting many DeFi and NFT projects. The MATIC token is used for transaction fee payments and staking on the Polygon network. The project has become one of the most successful among Layer-2 solutions, ensuring compatibility with the Ethereum ecosystem and significantly reducing the load on the main network.
Investor Outlook and Sentiments
The current market phase resembles previous downturn cycles, but industry participants strive to look ahead. Experienced investors note that every “crypto winter” previously ended with a new growth phase. Analysts point out that fundamental technological advancements—the development of networks, adoption of cryptocurrencies by businesses and governments—persist despite falling prices. Many projects continue active development, and companies from the traditional financial sector are exploring entry into the crypto market while awaiting regulatory clarity.
Sentiments for the near term remain cautious. Volatility may persist in the upcoming quarters, especially if global central banks uphold stringent rhetoric, and investors seek to avoid risk. However, the presence of major market players and the experience gained from previous downturns instill certain optimism. Some experts suggest that the current decline may last for several more months before the market finds a “bottom” and transitions into recovery. Key triggers for a reversal could include a loosening of monetary policy, successful implementation of regulatory reforms (which would eliminate legal uncertainty), and the launch of new products—such as approvals for new ETFs or technological breakthroughs in the blockchain space.
For long-term investors, the current situation is a time to reassess strategies and shuffle portfolios as needed. Many are focusing on the largest cryptocurrencies with a well-established reputation (such as BTC and ETH), anticipating a reduction in turbulence. At the same time, there are those who view the downturn as an opportunity to enter the market at lower prices, hoping for future growth. Overall, the industry enters 2026 with a cautious mindset, yet maintaining a belief in the long-term potential of cryptocurrencies as an integral part of the global financial landscape.
