Over the weekend, over $250 billion was wiped from the crypto market as Bitcoin fell from around $84,000 to roughly $76,000 and Ethereum also dropped sharply. Analyst Raoul Pal attributed the downturn to tightening U.S. dollar liquidity driven by Treasury cash flows, the reverse repo drawdown, and a strong gold rally, arguing crypto remains tied to macro risk sentiment rather than suffering a structural breakdown.

Bitcoin extended its slide on Monday morning, according to CryptoPotato, hitting a multi-month low just above $74,000 before rebounding near $78,000. Altcoins fell broadly: ETH hovered near $2,300 and was 5.5% down on the day, while XMR touched $400. MYX jumped 13.5% and M rose 10%.

On February 2, 2026, the German Economy Ministry lowered its 2026 growth outlook to 1.0% from 1.3%. In a Friday note, Deutsche Bank strategist Maximilian Uleer said he still expects the DAX to climb 18% in 2026, well above an 8% consensus, citing government spending and resilient global conditions.

Nomura Holdings moved to curb risk at its Swiss crypto unit Laser Digital after third-quarter losses, with shares falling 6.7% on Monday and net income down 9.7% year-over-year to ¥91.6 billion for the quarter ended December 31. The firm also filed a U.S. national bank trust charter application on Tuesday, underscoring its long-term digital asset plans.

On February 2, 2026, Wall Street entered a key trading week as major earnings reports from large technology companies coincided with elevated market volatility. Investors are also preparing for an upcoming U.S. jobs report that may influence expectations for interest rates and equity valuations. Analysts expect continued sharp price swings as corporate results and economic data are digested.

On February 2 2026, metals traders across China were reported to be facing losses of at least 1 billion yuan, or $144 million, after key counterparty Xu Maohua disappeared and left a chain of contracts unsettled. SDIC Commodities Co. has become a central party in the dispute, with lawsuits exceeding 400 million yuan and a Tianjin court freezing 3,150 tons of refined copper as legal battles unfold. Regulators have tightened scrutiny of circular trading and side businesses, while past metals scandals and a sharp move in silver prices have renewed concerns about risk in the broader commodities market.

In the latest market downturn, bitcoin slid below $75,000 and ethereum fell under $2,200, helping wipe about $500 billion from the total crypto market cap since Wednesday. Over the same period, gold and silver prices plunged from their recent peaks, erasing a combined $10 trillion in market value within a few days. Despite the severe pullbacks, the relative size of the precious metals markets suggests the crypto sector remains much smaller by comparison.

On February 2, 2026, Kevin Warsh, selected by President Donald Trump to lead the Federal Reserve, faced scrutiny over how he will manage the Fed's $6.6 trillion balance sheet. He favors reducing holdings, while Trump in January directed Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities to lower borrowing costs.