BTC, ETH Stabilize After Dip as Bitcoin Eyes $79K, Ether Trades Over $2.3K

The cryptocurrency market showed signs of stabilization on February 3, 2026, following a sharp weekend sell-off driven by liquidations, macroeconomic concerns, and profit-taking. Bitcoin (BTC) rebounded toward the $79,000 level after dipping below $75,000, while Ethereum (ETH) held above key support around $2,200–$2,300 amid reduced selling pressure.

As of today, Bitcoin trades in the $78,000–$79,000 range, up roughly 0.5–1.5% in the last 24 hours across major exchanges (e.g., CoinMarketCap and CoinDesk data show ~$78,100–$78,700). This follows a brutal week where BTC fell about 12%, wiping out over $200 billion in market cap from recent highs above $126,000 in late 2025. The recovery reflects buyers stepping in at lower levels, with trading volumes remaining elevated but liquidations easing. Analysts point to firm demand near $74,500–$77,000 as a potential floor, though broader downtrends persist unless BTC reclaims higher resistances like $80,000–$85,000.

Ethereum mirrored the pattern, rebounding modestly to around $2,270–$2,340 (up ~0.2–1.5% daily), after testing oversold conditions near $2,200. ETH spot ETFs saw continued but slowing outflows, while institutional interest in layer-2 solutions and DeFi provides underlying support. The asset remains sensitive to macro shifts, with recent weakness tied to risk-off sentiment.

The broader market entered a relief rally phase, with major tokens paring losses from the weekend bloodbath. Altcoins showed mixed performance—some consolidated, others followed BTC/ETH upward momentum. Overall sentiment remains cautious, with traders monitoring upcoming economic indicators, potential policy signals, and ETF flows (Bitcoin ETFs saw $560M inflows to start February after prior outflows).

This consolidation follows heavy leverage unwinds and macro uncertainty, but reduced liquidation cascades suggest easing pressure. For now, BTC eyes $79K+ for bullish confirmation, while ETH stability above $2.3K could signal renewed participation in altcoin rotations. The market appears poised for cautious trading ahead of clearer catalysts.