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The Daily Drip
Monday, February 9, 2026
The Daily Drip
âś… Top Takeaways
- BTC stabilizes after “Black Sunday”‑style wipeout:Bitcoin’s bounce from a 16‑month low near $60K comes after about $2.2B in derivatives liquidations forced out overleveraged longs.
- Japan’s “Iron Lady” fuels policy hopes:Sanae Takaichi’s landslide win has revived expectations for pro‑growth fiscal moves and renewed debate on crypto tax reforms, giving BTC/JPY and local Web3 projects a sentiment boost.
- Metals outshine coins, for now:Gold around the $5,000 mark and silver near $80 underscore how traditional havens have outperformed during the drawdown, sharpening the “digital vs physical” store‑of‑value debate.
đź“° Crypto Market Summary
Bitcoin traded at $70,167.93, down 0.16%, after rebounding from a 16‑month low near $60,000 earlier in the week. The recovery has been helped by bargain hunting and improved risk appetite after Japan’s election, even as ETF redemptions and forced liquidations keep a lid on conviction.
Ether rose to $2,113.28, up 1.19%, alongside record on‑chain activity as daily transactions hit 2.5 million and active addresses touched 1 million, highlighting continued network usage despite price volatility. Bitmine Immersion Technologies disclosed a 4.326 million‑ETH treasury worth roughly $10 billion, reinforcing its role as a major institutional holder.
XRP changed hands at $1.44, up 0.70%, while Solana gained 0.55% to $87.40 as both bounced off recent lows, though analysts remain cautious given whale selling and lingering leverage pockets. The broader market is still working through the aftermath of a large liquidation wave, which many desks view as positioning‑driven rather than a sign of structural stress.
Macro drivers stay in focus with Japan’s new government, upcoming U.S. jobs data on Wednesday, and CPI on Friday all feeding into Federal Reserve rate‑cut expectations. At the same time, gold and silver setting fresh highs has intensified conversations about how Bitcoin fits into the wider hard‑asset mix without changing its long‑run volatility profile.
🌍 Macro & Policy Lens
- Takaichi trade takes shape: After Sanae Takaichi’s historic victory, Japanese equities rallied and BTC/JPY spiked as markets bet on a mix of fiscal stimulus and lighter‑touch crypto taxation, though concrete policy proposals are still pending.
- Data‑heavy week ahead: U.S. labor‑market figures on Wednesday and CPI on Friday will shape expectations for 2026 Fed cuts, influencing how investors balance allocations between growth, metals and digital assets.
- Hard‑asset rotation broadens: Gold near $5,020 and silver around $80 per ounce have outperformed major coins through the recent volatility, showing that the “store‑of‑value” trade is currently tilting toward physical metals rather than tokens.
A cooler inflation print could extend the weaker‑dollar, real‑asset theme, but it remains an open question how much of that flow crypto captures versus gold and other commodities.
đź’° Flows & Market Structure
Weekend data show spot BTC and ETH ETFs effectively flat, with flows unchanged after last week’s heavy redemptions, giving markets a brief reset window.
Under the surface, derivatives markets are still digesting the early‑February liquidation shock that erased roughly $2.2–$2.5B in leveraged positions — one of the largest wipeouts since October 2025.
Desk take: many fast‑money accounts are running lighter leverage and tighter stops, while longer‑horizon investors monitor how ETF demand responds once macro headlines settle.
đź“Š Sentiment Dashboard
Extreme fear persists even after the bounce, underscoring how quickly positioning flipped from euphoria to risk‑off.
🔢 Market Performance
| Coin | Dec 31 | Now | 24h % | 7d % | YTD % | Cap |
|---|---|---|---|---|---|---|
| BTC | $87,508.83 | $70,238.79 | -0.79% | -10.55% | -19.74% | $1,403,847,589,994.25 |
| ETH | $2,967.04 | $2,113.50 | 0.98% | -9.79% | -28.77% | $255,083,380,679.69 |
| USDT | $1.00 | $1.00 | 0.03% | 0.01% | 0.11% | $184,486,384,883.60 |
| XRP | $1.84 | $1.44 | 0.76% | -12.09% | -21.65% | $87,820,646,066.21 |
| BNB | $863.26 | $638.57 | -0.19% | -17.43% | -26.03% | $87,074,764,204.31 |
| SOL | $124.48 | $87.60 | 0.35% | -15.91% | -29.63% | $49,703,009,572.57 |
| TRX | $0.28 | $0.28 | -0.07% | -1.76% | -0.50% | $26,387,855,874.19 |
| DOGE | $0.12 | $0.10 | -0.56% | -11.15% | -20.00% | $16,192,398,893.77 |
| ADA | $0.33 | $0.27 | -0.27% | -9.88% | -18.00% | $9,757,947,150.04 |
| BCH | $598.96 | $532.21 | 0.92% | -0.69% | -11.14% | $10,640,262,496.11 |
- BTC now shows a roughly -20% YTD loss and double‑digit weekly decline, reflecting how quickly leverage can unwind even after a year‑end rally.
- ETH, SOL and other majors remain in the red year‑to‑date despite occasional intraday bounces, underscoring that the recent move has been a retracement rather than a full trend change.
- Stablecoins like USDT have held their pegs through the turbulence, keeping settlement rails functioning even as spot and derivatives pricing adjust.
⚡ Risk & Market Lens
Positioning has flipped from aggressive long to cautious neutral as traders reassess leverage after the liquidation shock and look ahead to a dense macro calendar.
What to watch: whether BTC can hold above recent lows as Japan’s policy agenda becomes clearer, how futures funding and open interest behave into Wednesday’s jobs data and Friday’s CPI, and whether gold’s momentum cools or keeps pulling capital away from risk assets.
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OPEN YOUR H2cryptO ACCOUNTDisclaimer
This newsletter is for informational and educational purposes only and is not investment advice, solicitation, or an endorsement of any strategy or asset. H2cryptO does not warrant data accuracy or completeness.
Crypto assets are highly volatile; always consult professional advisors, use caution, and comply with local laws before making strategic, financial, or investment decisions.