The Crypto Market Is Under Pressure — When Will Prices Start to Recover?
Jakarta, Pintu News – The crypto market experienced a sharp decline, with the total market value slumping to $2.52 trillion – a 6% drop on February 2, 2026. Bitcoin , as the first cryptocurrency, dropped significantly from $89,200 to a low of $74,561.
Other major coins such as Ethereum , XRP , Solana (SOL), BNB Coin , and Cadano also suffered heavy losses, ranging from 8% to 15%.
Now comes the big question: Will the crypto market recover this week, or will prices continue to fall further?
Why are Bitcoin and Crypto Prices Falling?
As of February 2, Bitcoin’s price fell by about 2.2% and touched the $76,600 range – a level last seen in November 2024. The main cause of this market decline is the growing uncertainty regarding global interest rates.
Read also: Bitcoin Price Rises to $78,000 Today: Peter Brandt Highlights BTC Breakdown Risk
Market sentiment worsened after President Donald Trump nominated Kevin Warsh as a candidate for Federal Reserve Chair, which fueled concerns that interest rates will remain high for longer.
Additional pressure came from the Indian Budget 2026 which kept the crypto tax rules unchanged. Although no new taxes were imposed, the existing strict regulations were kept in place, which left many crypto investors disappointed.
US Economic Data that will Affect the Crypto Market
A number of important economic events in the United States this week are expected to affect crypto prices. On February 5, the latest Initial Jobless Claims data will be released. Analysts expect claims to rise slightly to 212,000 from last week’s figure of 209,000.
If this figure is higher than expected, it could signal weakness in the US labor market. This could raise hopes that the Federal Reserve will slow down interest rate hikes – which is usually positive for the price of Bitcoin and other cryptocurrencies.
Next, on February 6, the US unemployment rate and monthly employment report will be announced. The unemployment rate is expected to rise to 4.5%, compared to 4.4% in December 2025.
If economic data continues to show weakness, the market could start expecting future interest rate cuts – potentially helping the crypto market recover.
Read also: Solana Price Drops 35%: Selling Pressure Begins to Ease, Discount Hunters are in!
Bitcoin Price Outlook
Following this major event, crypto trader Captain Faibik highlighted that Bitcoin is now missing an important long-term support level, the weekly EMA100, for the first time in over 840 days. This is considered a warning signal on a long-term time frame.
Currently, the market’s attention is on the $68,000-$70,000 zone, which was previously an area of strong resistance throughout 2024, and now has the potential to become crucial support for the next price movement.
As of February 2, Bitcoin’s price was hovering around $76,453, reflecting a 2.2% drop in 24 hours.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coinpedia. When Will the Crypto Market Recover From This Downtrend? Accessed on February 3, 2026
