Crypto Market Experiences a Bloodbath, Bitcoin Returns to $70K Range After Nearly 300 Days, Ethereum Plunges 11.8% in 24 Hours

BlockBeats News, February 1st, according to HTX market data, the crypto market experienced a collective freefall. Bitcoin returned to the $70,000 range after 296 days, currently trading at $79,004, hitting a new low since April 11, 2025. Ethereum plummeted by 11.8% in 24 hours, reaching $2,370. SOL dropped to $100.26, BNB fell below $800. The total market capitalization of cryptocurrency evaporated by 5.7% within the day, now standing at $2.738 trillion.

Some altcoins saw a significant decline, including:

SSV now at $3.63, down 20.7% in 24 hours;

ORDI now at $2.96, down 20.04% in 24 hours;

GIGGLE now at $36, down 19.2% in 24 hours;

BERA now at $0.49, down 18.8% in 24 hours;

XPL now at $0.102, down 18.7% in 24 hours.