Crypto Ticker News Week 5: "Black Sunday" Plunge as Bitcoin Sinks Below $80k

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:

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.