Black Monday: Bitcoin Flirts With $77K as Ethereum Drops Below $2,300
Bitcoin continued its slide on Monday, February 2, trading at $76,937 — down 2.3% on the day and 11.1% over the week. Ethereum fell to $2,269, losing nearly 2% in 24 hours. The crypto markets appear caught in a bearish spiral with no immediate signs of a rebound. Trading volumes remain elevated, signaling persistent selling pressure. This Monday is marked by a lack of positive catalysts. Macroeconomic news continues to dominate sentiment, with fears of a global economic slowdown weighing heavily. Bitcoin, which had managed to hold above $80,000 for several weeks, has now lost that key level. Ethereum, meanwhile, is testing support zones not seen since late 2025. Correlation with equity markets remains strong, as Asian and European indices also posted losses. For investors, this Monday is a test of resilience. Weekly losses exceeding 10% could trigger automatic sell-offs from hedge funds. Still, some market analysts note that these levels might attract opportunistic buyers, especially if Bitcoin shows signs of stabilizing around $75,000. The week ahead will be decisive in determining whether this correction is healthy or a prelude to a deeper downturn.
