Crypto Morning Daily — February 3, 2026
Digital assets are attempting to stabilize this morning following last night’s broad rebound, with total crypto market capitalization rising 0.7% to $2.70 trillion as of 06:00 ET. The move builds on the stronger +2.7% advance seen in the prior evening session, suggesting markets may be transitioning from reactive selling toward early-stage consolidation, buying the dip. While price action remains tentative across large-cap assets, risk appetite has resurfaced selectively in higher-beta segments, particularly among trading-focused and emerging protocol tokens.
Leadership continues to come from liquidity-driven altcoins rather than core Layer-1 networks. Hyperliquid (HYPE)remains the standout performer, surging 16.4% in the past 24 hours and nearly 32% over the past week, reflecting sustained speculative flows into derivatives and trading infrastructure plays. MYX Finance, Canton, and MemeCore are also posting notable gains, reinforcing the theme of tactical capital rotation into volatile mid-cap opportunities. This pattern suggests traders are engaging opportunistically rather than positioning for a broad structural uptrend.
In contrast, privacy-focused cryptocurrencies remain under pressure. Monero and Zcash are among the largest decliners again today, extending weekly losses beyond 20% and signaling continued capital migration away from defensive or regulatory-sensitive segments. The divergence between privacy assets and trading-oriented tokens highlights the market’s preference for liquidity and momentum over fundamentals or long-term positioning.
Among the major Layer-1 networks, price action is subdued. Bitcoin is up modestly near the $78,000 level after recovering overnight but remains down double digits on a 7-day basis. Ethereum is showing limited follow-through, while Solana, BNB, Cardano, and Avalanche trade narrowly positive. The lack of strong leadership from majors indicates stabilization rather than renewed trend conviction, with large caps currently serving as volatility dampeners while speculative interest rotates further out on the risk curve. We identified $78,000 as a key support level in yesterday’s report, with base support at the $72,000 level and the $82,000 support level as an indicator of a short-term bounce back.
Elsewhere, Metaverse and gaming tokens continue to lag, with most names still sharply negative on a weekly basis despite isolated rebounds such as Klaytn. Sentiment in this segment remains weak and narrative sponsorship appears limited. DeFi tokens present a mixed picture: Cronos and Filecoin are seeing modest bids, while Aave and Uniswaptrade slightly lower, suggesting cautious accumulation rather than aggressive positioning.
Overall, the market tone has shifted from disorderly selling toward a short-term relief and rotation phase, but participation remains narrow and concentrated. Stabilization in Bitcoin and Ethereum is constructive, yet broad confirmation of a trend reversal is not evident. Until large-cap leadership improves and weekly momentum turns positive, the current move appears consistent with a reflexive rebound within a broader corrective environment.
