Bitcoin traded at $79,004 on Feb. 1, revisiting the $70,000 range for the first time in 296 days, HTX data via BlockBeats show. The crypto market cap fell 5.7% to $2.738 trillion. Ethereum dropped 11.8% in 24 hours to $2,370, while SOL stood at $100.26, BNB fell below $800, and SSV declined 20.7% to $3.63.

Crypto futures liquidations totaled $1.089 billion over 4 hours on Feb. 1, with long positions accounting for $1.051 billion, Coinglass data cited by BlockBeats show. The largest single liquidation was a $13.3899 million ETH-USD position on Hyperliquid. Over 24 hours, 356,339 traders faced $1.6 billion in liquidations.

Ethereum dropped below $2,400 on Feb. 1, losing more than 10.7% over 24 hours, HTX data show. The decline marked a sharp short-term retreat for ETH on the trading platform.

Bitcoin dropped below $79,000 on Feb. 1, hitting an intraday low of $78,160, HTX data show. The decline brought the cryptocurrency's 24-hour loss to 4.5 percent.

Bitcoin touched an intraday low of $80,500 on HTX on Feb. 1, breaking below its prior $80,600 floor and marking its weakest level since April 11, 2025, HTX data show. The token later recovered to around $81,440, down 1.8% over 24 hours.

Whale address 0xd90…2D975 deposited $6 million USDC to Hyperliquid on Jan. 31, BlockBeats reports citing Ai 姨 (@ai_9684xtpa). The address placed buy orders for 73.46 BTC in the $60,555-$75,555 range, worth approximately $5 million, and for 100,000 HYPE in the $15-$20.38 range, worth approximately $1.77 million.

Bitcoin fell toward $81,000 on Jan. 31 as escalating Middle East tensions and a partial US government shutdown dented risk appetite, BlockBeats reports. Market participants cited an explosion at Iran's Abbas port on the Strait of Hormuz, which handles roughly one-fifth of global seaborne oil, as a key factor. Traders noted that thin weekend liquidity amplified the decline, while Congress's failure to pass a full-year appropriations bill before the deadline triggered a brief federal shutdown that added to macroeconomic concerns.

Jeffrey Huang had ETH and HYPE long positions fully liquidated on Jan. 31, losing about $210,000, HyperInsight data show. The account posted a $1.57 million loss over the past week. After the liquidation, he opened a new $510,000 ETH long at $2,533.72.