Crypto Roars Back: BTC Smashes $70K Barrier, ETH Surges 8%, XRP Rockets 19% in Market-Wide Rally
The digital asset market just flipped the script. After weeks of sideways whispers, major cryptocurrencies are posting double-digit gains, signaling a powerful recovery phase that's catching traditional finance flat-footed.
Bitcoin Breaks the Ceiling
All eyes are on the king. Bitcoin didn't just approach resistance—it demolished the $70,000 psychological barrier. That price point acts as more than a number; it's a magnet for institutional attention and a stark reminder of the asset's volatile, headline-grabbing power. The move suggests accumulating buy pressure is finally overwhelming the sell-side fatigue that dominated recent charts.
Ethereum's Defi Engine Revs Up
Not to be outdone, Ethereum logged a solid 8% climb. This isn't just a sympathy pump. The surge reflects renewed confidence in the network's sprawling ecosystem—from decentralized finance protocols to the burgeoning NFT sector. When ETH moves, it often drags an entire altcoin universe with it, and today's action confirms that dynamic is alive and well.
The XRP Surprise
Then there's the standout performer. XRP's staggering 19% leap is the kind of move that turns portfolios green in a hurry. Such explosive momentum often stems from a catalyst—be it regulatory clarity whispers, major exchange developments, or simply a massive short squeeze punishing the doubters. It's a classic reminder that in crypto, the most battered assets can sometimes snap back the hardest.
This coordinated surge across top-tier assets hints at a fresh injection of capital. Maybe it's macro tailwinds, maybe it's the cyclical nature of the beast, or maybe the 'smart money' from Wall Street finally read the memo that decentralization isn't a fad. Whatever the driver, the rebound showcases the market's relentless resilience. Just ask any hedge fund manager still trying to short it—if they're not too busy explaining the losses to their investors.
Why Crypto Market Up Today? What Happened?
After yesterday’s crypto market crash, today's markets are suddenly at an impressive hike, which says a lot about cryptocurrency's volatility and industry dynamics. The overall markets rose because Bitcoin surged 9.22% to about $69,957 and Ethereum gained 8% to around $2,040, pushing total capitalization up to $2.46 trillion.
The rebound appears driven by bargain buying after the sharp sell-off, strong Bitcoin and Ethereum recovery, and improving trading momentum. Increased institutional activity, ecosystem gains like XRP and Polkadot, and stabilization after mining-pressure concerns also supported prices. However, sentiment turns down more, meaning the recovery may be technical rather than signaling a confirmed trend reversal.
Crypto Market Last 24 Hours Update: Prices, Volume & Trends
The global cryptocurrency market today reached a capitalization of $2.46 trillion, noted an impressive 9.1% upward trend in the last 24 hours after yesterday’s 10.3% crypto crash. Total trading volume recorded at $264 billion.
Bitcoin’s (BTC) dominance over the industry remains intense with 56.9%, while Ethereum (ETH) carries 10.1%. The largest gainers of industry are Polkadot and XRP Ledger Ecosystem in the past day.
(Note: BTC and ETH are often viewed as less volatile historically, but still risky. The data recorded from CoinMarketCap)
Bitcoin (BTC) price today reached $69957.93, surged 9.22% in the last 24 hours, with a trading volume of $99.5 billion and a market cap of $1.39 trillion.
Ethereum (ETH) price today is at $2040.54, soars 8% in 24 hours with a trading volume of $55.1 billion and a market cap of $246.5 billion.
(Trending data is based on a combination of 24-hour price movement, trading volume, and CoinMarketCap.com trending metrics.)
World Liberty Financial price (WLFI): $0.1063, down 4.26%, trading volume (TV): $372.69M.
Hedera price (HBAR): $0.08959, jumps 12.93%, TV: $328.66M.
Berachain price (BERA): $0.4655, climbs 20.98%, TV: $230.13M.
Succinct price (PROVE): $0.3419, rises 21.89%, TV: $156.75M.
Moonbirds price (BIRB): $0.2612, surges 36.21%, TV: $231.02M.
(Ranked by 24-hour percentage gain)
Midnight price today (NIGHT): $0.05383, jumps 24.19%, trading activity $30.37M.
XDC Network price today (XDC): $0.03708, climbs 22.69%, trading activity $43.98M.
XRP price today (XRP): $1.45, rises 18.39%, trading activity $10.67B.
(Ranked by 24-hour percentage loss)
Hyperliquid price (HYPE): $31.77, down 6.18%, trading activity around $918.42 million.
World Liberty Financial price (WLFI): $0.1063, lower by 4.28%, with trading volume near $372.68 million.
AINFT price (NFT): $0.063354, slipped 0.28%, trading activity close to $26.43 million.
Stablecoins reflects 1.2% positive change over the past 24 hours, with a market capitalization of $310 billion and trading volume of $210 billion.
The Overall (Defi) Decentralized Finance market increased 6.1% over the last 24 hours, with a market cap of $49.8 billion and trading volume (TV) of $8 billion. Defi dominance globally marked 2%.
Bitcoin Fear and Greed Index Today
Source: Alternative Me
Crypto Fear and Greed Index crashes to 6, signaling extreme panic. Yesterday measured 9, last week 20, last month 28. Rapid decline reflects heavy selling, volatility, and weak sentiment. This marks a shocking, drastic, and dramatic turn for the crypto industry's confidence collapse globally.
Latest Crypto Market News Today, Feb 7
(Note: All of these updates have an effect on traders, as they affect liquidity, sentiment, and potential returns, and thus have to be monitored closely.)
Binance said its team helped global law enforcement recover about $131 million in illicit assets in 2025, while responding to more than 71,000 official requests worldwide, the company confirmed publicly.
Bitmine reported $6.6 billion unrealized losses, U.S. pension funds lost heavily in Strategy investments, and a16z links AI blockchain for infrastructure.
Bithumb mistakenly credited users with excess bitcoin during event rewards, briefly affecting BTC price. Exchange froze accounts, recovered most funds, and confirmed system security remains stable.
Coinbase adds Superform (UP) to listing roadmap, signaling potential launch soon, pending market-making support and technical readiness, with official trading date announced later by Coinbase.
Sberbank plans crypto-collateralized corporate loans, piloting one with Intelion Data, while Russia’s central bank prepares regulations expected to be finalized by July 2026 for industry.
Galaxy Digital approved a $200 million share buyback program, allowing Class A share repurchases over 12 months, depending on market and regulatory conditions, without obligation.
Comparative Insight
After falling 10.3% on Feb 6 update, markets rebounded 9.1% on Feb 7, lifting total capitalization from $2.27T to $2.46T. Bitcoin recovered from around $64.6K to nearly $70K, while Ethereum climbed above $2,040. Despite recovery, the Fear Index dropped further from 9 to 6, showing fragile confidence.
What This Means for Cryptocurrency Users
Crypto users are witnessing high volatility, where rapid declines are followed by quick recoveries. This environment creates both trading opportunities and risks, requiring careful monitoring of sentiment indicators, market volume, and macro-level crypto developments before making decisions.
Risk Context: This commentary is not about long-term conditions and is merely informational. It does not point in the direction of the price or show an action to be taken on the investment.
CoinGabbar’s Opinion
Based on the 24-hour update, crypto investment remains highly risky due to extreme fear sentiment and recent market shocks. While short-term gains appear beneficial for traders, long-term investors should remain cautious and avoid emotional investment decisions.
Disclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and risky. Always conduct your own research and consult a qualified financial advisor before making investment decisions. Not all regions can offer some of the services or assets discussed.
