Here’s Why The Bitcoin, Ethereum, And Dogecoin Prices Are Still Crashing Today

bitcoinistPublished on 2026-02-05Last updated on 2026-02-05

Abstract

Bitcoin, Ethereum, and Dogecoin prices are experiencing a significant crash, with the broader crypto market down over 6.2% to a $2.43 trillion valuation. Bitcoin fell roughly 7%, dragging major altcoins like Ethereum and Dogecoin down with it. The decline is attributed to a macro-driven selloff in global risk assets, mirroring drops in equities and gold. Since its October 2025 all-time high above $126,000, Bitcoin has lost over 42% of its value. Additional pressures include U.S. political uncertainty, speculation around the next Fed chair, and significant outflows from Spot Bitcoin ETFs, indicating weakened institutional demand. Ethereum dropped over 7% to around $2,100, while Dogecoin fell more than 6% to $0.1.

The Bitcoin, Ethereum, and Dogecoin prices are crashing today, reaching lows not seen in months. This downturn reflects a broader market decline affecting a wide range of risk-off assets. Unlike the October 2025 flash crash that saw most cryptocurrencies plummet simultaneously, the recent underperformance of BTC, ETH, and DOGE stems from a combination of factors, including macroeconomic pressures, institutional demand, and global market stress.

Why Bitcoin, Ethereum, And Dogecoin Prices Are Crashing Today

CoinMarketCap’s data shows that the broader crypto market is in a downtrend, with the majority of digital assets now in the red. Today, the market has fallen by more than 6.2%, bringing its valuation to $2.43 trillion. The crash was front-run by Bitcoin, which fell roughly 7% at the time of writing, before other major assets followed.

Reports reveal that a macro-driven selloff across global risk assets primarily drove Bitcoin’s price crash today. The cryptocurrency declined in tandem with major equity indices such as the Nasdaq-100 ETF (QQQ) and gold, indicating a liquidity- or rate-driven market collapse.

Currently, Bitcoin has lost more than 42% of its value since its all-time high above $126,000 in October 2025. After reaching its peak, the cryptocurrency has been in a prolonged slump, attempting to break through key resistance but ultimately failing to recover past highs. Its decline toward $71,000 has also contributed to the performance of other major cryptocurrencies, like Ethereum and Dogecoin, which tend to track BTC’s movements.

As of writing, CMC data indicate that Ethereum has declined by more than 7% over the past 24 hours to nearly $2,100. Reports attribute this decline primarily to broader market risk-off sentiment and the fall in BTC’s price. Dogecoin has faced similar pressures, falling by more tha 6% to $0.1 today. While BTC’s decline added to volatility, DOGE has been in a downtrend since Q4 2025, suggesting that persistent bearish sentiment and extreme fear are also key factors driving its choppy price action.

In addition to falling prices, the market capitalizations of Bitcoin, Ethereum, and Dogecoin have also plummeted by more than 5%. Bitcoin’s value now stands at $1.43 trillion, Ethereum at $257.93 billion, and DOGE at $17.22 billion.

Macroeconomic And Institutional Factors

Macroeconomic pressures and political concerns in the US have also played a significant role in the recent decline in Bitcoin, Ethereum, and Dogecoin. In early February 2026, BTC broke below $80,000 for the first time since 2025, triggering a wave of liquidations across leveraged positions in a single session.

This sharp move coincided with mounting uncertainty about US fiscal policy and speculation over the nomination of Republican Kevin Warsh as the next Federal Reserve (FED) chair. At the same time, Spot Bitcoin ETFs recorded notable outflows, signaling a significant pullback in institutional demand that had previously supported prices.

BTC trading at $71,500 on the 1D chart | Source: BTCUSDT on Tradingview.com

Related Questions

QWhat is the main reason for the current crash in Bitcoin, Ethereum, and Dogecoin prices according to the article?

AThe main reason is a macro-driven selloff across global risk assets, indicating a liquidity- or rate-driven market collapse, which has affected cryptocurrencies in tandem with major equity indices.

QHow much has the total cryptocurrency market valuation fallen by in this crash?

AThe total cryptocurrency market valuation has fallen by more than 6.2%, bringing it to $2.43 trillion.

QWhat specific event in early February 2026 triggered a wave of liquidations in the crypto market?

ABitcoin breaking below $80,000 for the first time since 2025 triggered a wave of liquidations across leveraged positions.

QBesides the market selloff, what other factors contributed to the decline in crypto prices?

AOther contributing factors include macroeconomic pressures, political concerns in the US, speculation over the next Federal Reserve chair nomination, and a significant pullback in institutional demand as shown by Spot Bitcoin ETF outflows.

QHow does the article describe the current price action of Dogecoin (DOGE) compared to Bitcoin?

AThe article states that while Dogecoin's decline was exacerbated by Bitcoin's fall, it has been in a persistent downtrend since Q4 2025, driven by bearish sentiment and extreme fear, leading to choppy price action.

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