Why Is Crypto Rising Today? – February 3, 2026

In the wake of several days of significant declines, the crypto market has rebounded today. The overall market capitalization has increased by 2.5% in the past 24 hours, reaching $2.72 trillion, although it has not regained the $3 trillion mark. Notably, 95 of the top 100 cryptocurrencies have seen price increases, and total trading volume is currently around $160 billion.

Key Takeaways

The crypto market saw a rise of 2.5% today, with overall capitalization at $2.72 trillion.
Bitcoin (BTC) and Ethereum (ETH) both recorded significant increases in price.
While many cryptocurrencies experienced gains, Monero (XMR) and Zcash (ZEC) faced declines.
The US Senate failed to pass legislation regarding stablecoin yields, creating uncertainty.
Major economic reports like the Nonfarm Payrolls report have been delayed, impacting market sentiment.

Why Is Crypto Up Today

Crypto Performance Overview

Top Gainers Today

On Tuesday morning (UTC), all top 10 cryptocurrencies by market capitalization have experienced price increases.

Bitcoin (BTC) has risen by 2.8%, currently priced at $78,533.
Ethereum (ETH) saw a gain of 4.3%, now at $2,318, making it the second-highest performer in this group.
The largest gain of the day is attributed to Lido Staked Ether (STETH), which hiked by 4.5% to $2,319.
Dogecoin (DOGE) increased by 4%, reaching $0.1068.
The smallest increase among the top 10 coins is Tron (TRX), which rose by only 0.3% to $0.2833.

Among the top 100 cryptocurrencies, 95 have seen price increases, with four experiencing double-digit gains. The standout is Hyperliquid (HYPE), which surged 22.6% to $37, closely followed by Kinetiq Staked HYPE (KHYPE) at 22.4%.

Notable Declines

Conversely, the only two cryptocurrencies that have fallen more than 1% are Monero (XMR) and Zcash (ZEC), declining by 5.6% and 4.7% respectively, bringing their prices to $374 and $288.

In political news, a proposed US crypto market structure legislation did not pass in the Senate due to disagreements on stablecoin yields and rewards. The White House hopes for a resolution by month-end.

Market Analysis and Sentiment

Current Market Dynamics

The release of the January 2026 Nonfarm Payrolls report has been postponed due to a partial government shutdown, causing concern among investors. Analysts from Bitunix suggest that delayed reports and ongoing manufacturing issues are pressuring risk assets. "Currently, markets are experiencing a shift towards risk-off sentiment coupled with deleveraging," they noted.

Nick Forster, founder of the on-chain options platform Derive.xyz, remarked on the broader selloff in crypto markets over recent days. Factors like thin liquidity, profit-taking, and significant liquidations are contributing to this decline, driving Bitcoin's volatility up to over 50%.

He also highlighted a movement in BTC skew, indicating that traders are actively seeking downside protection. Current macroeconomic challenges are exacerbating the volatility in the crypto space, potentially caused by a tech sector slowdown, further evidenced by a notable drop in Microsoft’s stock.

Market Analysis

The options market is starting to establish potential downside thresholds, with analysts noting that BTC support is forming near the $70,000 level.

Price Levels and Future Considerations

As of Tuesday morning, Bitcoin is trading at $78,533, having experienced an intraday low of $76,364 and a high of $79,130. The 7-day performance shows a decline of under 11%, with the price fluctuating between $75,442 and $90,117.

Should Bitcoin rebound from the $76,000 mark, it could rise to $79,550 and aim for $80,700. A drop below $74,300 would likely push prices down towards $70,000. Analysts at Bitunix note the significance of the $80,000 level, which acts as a vital resistance point. If Bitcoin can maintain trading within this range, it will signal whether the market's passive adjustment persists or if it begins to show resilience.

Price Levels

Similarly, Ethereum is trading at $2,318, having climbed from an intraday low of $2,224 to a high of $2,387. Like Bitcoin, Ethereum is also experiencing sideways movement. Over the past week, ETH has seen a notable drop of 21%.

Market sentiment also remains wary, as reflected by the crypto fear and greed index, which is currently at 17, suggesting a trend of extreme fear among traders. Rising sentiments may hinge on whether the market can maintain its upward trajectory long enough for confidence to rebuild.

Market Sentiment

ETF and Institutional Developments

After four days of outflows, U.S. Bitcoin spot exchange-traded funds (ETFs) recorded a positive flow of approximately $561.89 million on Monday. Total net inflows have now exceeded $55 billion, with Fidelity leading the way with $153.35 million in inflows.

In contrast, U.S. Ethereum ETFs continued to see outflows, losing $2.86 million on February 2. Although the net inflows remain close to $11.97 billion, the market continues to show mixed signals on Ethereum's performance.

ETF Inflows

On a positive note, ING Deutschland, a German bank, has introduced retail access to crypto-linked exchange-traded notes (ETNs), allowing customers to invest in Bitcoin, Ethereum, and Solana, providing them with easier access to these digital assets.

Conclusion

The crypto market has experienced a noteworthy uptick today, coinciding with positive movements in the U.S. stock market. Nevertheless, uncertainties loom regarding long-term sustainability. For now, the market's trajectory will depend significantly on economic developments and trader sentiment in the coming days.