Bitcoin and Ether Rebound After Weekend Sell-Off; BTC Holds Above $74,000

Bitcoin and major cryptocurrencies staged a relief rally on February 3, 2026, recovering from a weekend crash that drove BTC to $74,000—its lowest level since April 2025—and triggered billions in derivatives liquidations. Bitcoin traded near $79,000 in Asian hours, while ether rose above $2,340; Solana, BNB, XRP, and Cardano gained 3%–6% in 24 hours. Despite the bounce, most large-cap tokens remain down up to 20% over seven days. CF Benchmarks’ Gabe Selby said the weekend’s “massive long liquidations” marked the end of a bearish sequence stemming from the October 10, 2025 deleveraging event. He cited stalled U.S. crypto legislation and hawkish Fed repricing as key headwinds. Asian equities also rebounded, with the MSCI Asia Pacific Index posting its best session since April.