Bitcoin hovered near the $76,000 mark after slipping to the $73,000 level amid weak sentiment in US markets. The cryptocurrency was down about 3% from Tuesday’s level of $78,000 and was trading at $76,391.
Ethereum fell 2.86% over the past 24 hours to trade around $2,271. Among major altcoins, BNB, XRP, Solana and Hyperliquid declined by up to 12%, while Tron and Dogecoin gained 1.25% and 0.71%, respectively.
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Akshat Siddhant, lead quant analyst at Mudrex, said a key positive catalyst could be the likely end to the US government shutdown after the House passed a bill to largely reopen federal operations. He said this may trigger a relief rally by restoring liquidity and enabling the release of critical jobs data, offering markets clearer economic signals.
Adding to the constructive setup, Bitcoin ETFs recorded net inflows of $561 million, pointing to a potential trend reversal. However, Siddhant cautioned that downside risks remain, with traders closely watching the $70,000 level.
The global cryptocurrency market capitalisation slipped 2.49% to $2.59 trillion, according to CoinMarketCap.
Over the past week, Ethereum and Bitcoin declined 24.23% and 4.07%, respectively. Among major altcoins, BNB, XRP, Solana, Tron, Dogecoin and Cardano fell more than 15%, while Hyperliquid edged up 0.27%.
CoinDCX Research Team said after a significant plunge to $72,945, the Bitcoin price has recovered to $76,800 as the buyers step in at the lows. The rest of the popular cryptos also faced a similar pullback, but the bulls managed to defend the local support by triggering a healthy rebound.
Crypto markets remained under pressure with Bitcoin consolidating uneasily below key resistance. Macro signals continued to dictate risk appetite.
US spot Bitcoin ETFs recorded net outflows on the February 3 US trading session. This is a reversal of strong inflows seen earlier in the week. While daily flow data can be noisy, the pullback reinforces the view that institutions remain sensitive to macro signals.
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BTC is consolidating near $76.5K after U.S. lawmakers narrowly approved a funding package that alleviated near-term shutdown risks and helped stabilize broader risk sentiment.
From a technical perspective, $73K continues to act as key downside support, while a sustained reclaim of the $77.5K-78K resistance zone is required to meaningfully improve the short-term trend and restore bullish momentum.
Global macro developments over the last 24 hours once again highlighted that liquidity conditions continue to shape short-term movements in crypto markets.
While prices remain range-bound in the near term, the market continues to mature beneath the surface, responding, adapting, and building through changing global conditions.The current consolidation after the earlier move suggests measured participation, with momentum staying neutral and price stabilising around key intraday levels rather than chasing direction
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