At the beginning of February, Bitcoin's price slid to its lowest level since Donald Trump was elected US president in November 2024, a move linked to heavy leverage in the BTC market. Over the past week, on-chain data shows a substantial deleveraging on Binance, with the Estimated Leverage Ratio falling by about 28% from roughly 0.1980 to 0.1414. Bitcoin now trades near $67,950, up almost 2% in 24 hours but still slightly lower on the weekly chart, as analysts say the market needs fresh spot demand to rebuild a durable uptrend.

Bitcoin's price has hovered near $68,000 resistance in recent days, trading around $67,960 with no notable 24-hour change. Whales recently realized more than $208 million in profits, the seventh such spike in the past two years. This pattern has often preceded short-term turbulence and, after supply absorption, local bottoms or stabilization.

On X, analyst Ali Martinez said the CVDD on-chain metric, which has flagged BTC lows since 2012, currently reads $45,225. He views it as a potential floor if broader conditions worsen; meanwhile, BTC hovers near $70,000 after a ~2% daily rise.

Over the past week, Bitcoin faced heavy selling, and according to data, roughly $1 trillion has exited the crypto market since mid-January. In a CryptoQuant Quicktake, analyst CryptoOnchain reported Bitcoin's Taker Buy Ratio (14-day MA) on Binance fell to 0.48, the lowest since October 2025; the slide aligned with a drop to about $61,000 before BTC rebounded above $70,000 on Friday to roughly $70,263, up over 11% in 24 hours.

On Friday, February 6, Santiment highlighted rising whale and ledger activity as XRP rebounded, briefly reclaiming $1.5 after a decline to $1.16, the lowest since November 2024. The firm reported 1,389 $100,000 transactions and 78,727 unique addresses in one 8-hour candle. As of writing, XRP is around $1.46, up almost 25% in 24 hours but still roughly over 16% lower week-on-week.

Ethereum slid beneath $2,500 on Thursday, January 29, after losing nearly 20% in one week. The token hovers near the $2,475 cushion, and on-chain data highlights $2,623, $2,475, and $1,881 as key supports while ETH trades around $2,410.

Bitcoin dropped to about $81,500 on Thursday, January 29, then rebounded above $93,000 on Friday, January 30. In a CryptoQuant Quicktake, CryptoOnchain said Binance's Estimated Leverage Ratio surged to 0.188 during the sell-off, signaling higher liquidation risk. The analyst added that the market is in a high-tension zone and a squeeze could be imminent.

On January 25, analyst Ali Martinez wrote on X that Bitcoin could bottom near $31,000 in 2026, pushing back on supercycle narratives tied to CZ's outlook. His view relies on repeating price fractals and parallels to 2021–2022 action, implying a drawdown of nearly 65% from a quoted price near $88,528.

Bitcoin has traded between $90,000 and $88,000 in recent sessions, with the price near $88,520 after a drop of over 1% in 24 hours. On-chain metrics show Accumulator Address Demand at an all-time high and the monthly Liquidity Inventory Ratio on US exchanges at 3.8, signaling strong whale buying pressure.