Crypto Stocks Sink to Lead Weekly Losers as Asian Banks Advance

Crypto-linked stocks led weekly financial losers for the period ending February 7, 2026, as digital asset volatility intensified, while Asian bank shares advanced amid sector rotation to defensives.

Publicly listed crypto miners (e.g., Marathon Digital, IREN), exchanges, and related firms (e.g., Galaxy Digital proxies) sank sharply, tracking Bitcoin’s ~23-24% weekly plunge (from highs near $90,000+ to lows below $64,000-$70,000 before partial recovery) and Ethereum’s ~9-13% drop (testing ~$1,800-$2,000). The broader crypto market cap shed significant value amid heavy ETF outflows (~$434M-$544M BTC net), deleveraging, and reduced trading volumes—pressuring revenues and confidence.

“Risk appetite has faded, and crypto stocks remain highly correlated to token prices,” a strategist noted. Regulatory uncertainty and macro headwinds (Fed policy concerns) amplified downside.

Conversely, Asian banks outperformed broader markets. Shares in Japan (e.g., major lenders), South Korea (KB Financial, Shinhan), and Southeast Asia rose on expectations of stable rates, resilient credit demand, and solid earnings (higher net interest margins, loan growth). Investors rotated into traditional financials viewed as more stable amid global turbulence and slower growth signals.

The split underscores a defensive pivot: trimming high-risk/speculative exposure (crypto/tech) for predictable cash flows and resilience (banks, defensives) as geopolitical/policy uncertainty dominates. Traders eye upcoming inflation data and central bank cues for direction—crypto stocks likely remain pressured until digital assets stabilize, while Asian banks could extend gains on perceived safety.