Reading most crypto news headlines is depressing today. BTC USD briefly tagged a 15-month low under $73,000 before snapping back above $76,000, while ETH USD continued its rough week, sliding 25% and maybe closing to $2,000. This sets the depression in crypto news today as BTC USD moves like memes with thin liquidity.
Looking at the cleanest perspective, BTC and ETH are tracking weakness from Nasdaq as the total crypto market shed close to 15% the last 7 days. But is it all doom?
I didn’t want to lose 7% a year to inflation.
So I chose crypto and now lose 7% every week.
At least it’s faster. pic.twitter.com/7aN7b3PtuY
— Rekt Fencer (@rektfencer) December 12, 2025
President Trump has signed legislation to formally end the partial government shutdown, and this removed one layer of uncertainty, at least on paper, for now. We know crypto has been absorbing macro pressures. Remember, after Trump’s inauguration, Bitcoin initially climbed 15%, only to see risk assets tumble when tariffs triggered a sharp S&P 500 correction in early 2025. It’ macro, not Bitcoin itself.
However, Wall Street participation has changed the texture of this cycle too, making BTC USD less fragile than past drawdowns.
Forget Depressing Crypto News, Because BTC USD Shows Relative Strength Today
Despite the chaos filling crypto news feeds, BTC USD has quietly shown relative resilience today. Funding rates across major exchanges stayed positive, hinting at a mild bullish bias even during the dip. Bitcoin dominance slid toward 60%, a level that usually comes before altcoin rotations, but this cycle, capital largely boomeranged back.
People are bracing for more turbulence. Pentoshi floated a scenario where BTC USD revisits the $70,000–$74,000 range before rebounding into the mid $80,000s. So it’s not that bad if this scenario plays out. Just 4 years ago, Bitcoin fell by 80% on a bear market, and it’s more steady this time around.
Well. It’s not March yet. But think this 70-75k area is attractive for $btc
Got some first small bids hit
Might become active in this market again for the first time in awhile
—
Pentoshi mostly afk until march (@Pentosh1) February 2, 2026
Warnings are stacking up, though. Michael Burry said that a deeper BTC USD drop could cascade into forced selling across gold and silver, wiping out $1 billion in value. Supporting that concern, tokenized silver futures recently saw liquidations that dwarfed BTC and ETH vas USD.
michael burry sounds the alarm on bitcoin crash.
the actual "Big Short" guy. called 2008.
BTC broke support and "sickening scenarios" now in sight. 10% more downside puts companies like MicroStrategy in billions of losses, capital markets freeze up.
gold and silver hit ATH… pic.twitter.com/a0Wa73ZMUq
— Ryzm (@Goeun_6121) February 3, 2026
DISCOVER: 10+ Next Crypto to 100X In 2026
ETH USD Outlook. Bullish?
While BTC USD flexes relative strength, ETH crypto, today, tells a more uncomfortable story in most news headlines. Funding rates have turned mixed, with some exchanges flashing negative since the October 2025 crash. Ethereum continues to bleed against Bitcoin, touching ratios similar to those in 2016. Vitalik Buterin has weighed in, urging a rethink of ETH layer-2 strategy, framing it less as a hierarchy and more as a menu of user choices, especially as the mainnet keeps scaling and fees get lowered on every upgrade.
(source – Coinglass)
Tom Lee described BitMine’s reported $6 billion Ethereum loss as part of a long-term attempt to outperform ETH USD across cycles. Meanwhile, Trend Research, which held $1 billion worth of ETH via AAVE, is staring at losses north of $560 million. Recent deposits of nearly $368 million in ETH to Binance, with liquidation levels at around $1,800.
These tweets miss the point of an ethereum treasury:
– BitMine is designed to track the price of $ETH
– outperform over the cycle (think up ETH)
– crypto is in a downturn, so naturally ETH is down$BMNR will see “unrealized” losses on our holdings of ETH during these times:
-… https://t.co/VpoNjAnJdC— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) February 3, 2026
Technically, ETH USD is clinging to the $2,200 zone, a Fibonacci 1.618 level, and an area known for thin historical liquidity. A reverse head-and-shoulders pattern is also forming and waiting for confirmation. But some of us counter that liquidation heatmaps show danger lurking below support, standing on a thin, cracking ice.
What’s next? For now, pray and hope for the best, but expect the worst. Winter might not be over, yet.
DISCOVER:
- 16+ New and Upcoming Binance Listings in 2026
- 99Bitcoins’ Q4 2025 State of Crypto Market Report
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Vitalik Says Ethereum’s L2 Plan Is Broken as ETH USD Slips -2%
Ethereum co-founder Vitalik Buterin said the network needs “a new path,” openly walking back Ethereum’s long-standing reliance on Layer-2 networks for scaling. Vitalik’s comments came as ETH USD slid a further -2% overnight to $2,270, with the total crypto market cap slipping back below $2.7 trillion.
This comes at a time when most Ethereum activity lives off the main chain, raising a simple question: Did scaling drift too far? Ethereum has spent years pushing transactions onto L2s to cut fees and congestion.
That strategy worked on cost, but it also created trade-offs around control and trust. Now, the project’s original architect says those trade-offs are too big to ignore. Another talking point for Ethereum is yesterday’s (February 3) ETF flows, which saw BlackRock buy $42.9M ETH, marking a green day for the products.
Talking of L2s, while Ethereum is saturated with them, there still isn’t one for Bitcoin, until now. Bitcoin Hyper (HYPER) is one of the hottest crypto presales in recent memory, having raised over $31M to date. Stick around until the end to find out why HYPER is a must-buy for 2026.
Read the full story here.
The post Crypto News Today, February 4: Down Again, Thanks Crypto! BTC USD Fell to $72K Before The Snapping Back, ETH 25% Down in A Week appeared first on 99Bitcoins.
