Crypto Market in Freefall, Bitcoin Reclaims $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 waterfall drop across the board, with Bitcoin returning to the $70,000 range after 296 days, now 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, and BNB fell below $800. The total market capitalization of cryptocurrencies evaporated by 5.7% in a single day, now standing at $2.738 trillion.

Some altcoins saw significant declines, including:

SSV now trading at $3.63, with a 24-hour loss of 20.7%;

ORDI now trading at $2.96, with a 24-hour loss of 20.04%;

GIGGLE now trading at $36, with a 24-hour loss of 19.2%;

BERA now trading at $0.49, with a 24-hour loss of 18.8%;

XPL now trading at $0.102, with a 24-hour loss of 18.7%.