In early trading on February 3, Asia-Pacific stock markets opened lower across the board, and the cryptocurrency market fell collectively at the same time. Ethereum once plummeted 25%, and Bitcoin experienced multiple short-term sharp drops, with the largest drop exceeding 6% within 24 hours.
Industry insiders say this is an epic plunge in the cryptocurrency market.
Bitcoin’s lowest price hits $91,130.3 per coin
A decrease of 6.83%
According to CoinGlass market data, the price of Bitcoin has continued to fall in the past few hours, once reaching around $91,130 per coin. As of press time, Bitcoin was trading at US$92,899.3 per coin, a drop of 6.83%.
Bitcoin has continued to fall since January 31, with the price falling from $106,000 per coin. It has been in a downward trend for four consecutive trading days.
Other currencies in the cryptocurrency market are collectively lower
In addition to Bitcoin, other currencies in the cryptocurrency market also plummeted that day.
Ethereum, Binance Coin, Dogecoin, SOL Coin, Ripple Coin, ADA Coin, and SUI Coin all fell sharply. Ethereum, Ripple Coin, ADA Coin, and SUI Coin fell by more than 20%, and Binance Coin and TRUMP Coin fell by more than 15%.
Among them, Ethereum once plummeted 25%, hitting a low of $2,080.19 per coin, reaching its lowest level in the past year.
In just 12 trading days, the price of TRUMP coins also fell from 43 US dollars per coin. On February 3, it fell to 15.554 US dollars per coin, a drop of 17% in 24 hours.
CoinGlass data shows that in the past 24 hours, as many as 720,000 people have liquidated their positions in the cryptocurrency market, and the total liquidation amount has reached US$2.21 billion. Among them, the liquidation amount of long orders reached US$1.87 billion, and the liquidation amount of short orders reached US$340 million.
The largest single liquidation order occurred on Binance-ETH, worth $25.635 million.
On the news, according to media reports, cryptocurrencies plunged sharply on Sunday amid a risk-off trend after U.S. President Donald Trump imposed long-threatened import tariffs on Canada, Mexico and China.
On January 27, the DeepSeek application developed by Hangzhou DeepSeek, a large domestic model company, topped the free app download rankings of Apple's app stores in China and the United States. It surpassed ChatGPT in the U.S. download list, attracting attention from the global technology, investment industry, and media circles. DeepSeek's training costs have attracted the attention of many U.S. officials and investment circles.
It is reported that due to this, NVIDIA suffered a sharp decline, and the value of the US stock market evaporated by nearly one trillion US dollars. As risk assets, Bitcoin and cryptocurrencies were also affected. After a week of recovery, the market performance remained weak and fell sharply again on February 3.
