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Crypto markets have taken a beating recently as selling pressure continues to build this week. Bitcoin is now trading at $71,470, down 6% in 24 hours after tech-led selloffs briefly drove it under the $71,000 support. The total crypto capitalization has dropped to $2.43 trillion after 6.03% of its value was flushed from yesterday.
Altcoins are also facing heavy losses, with Ethereum priced at $2,130 after a 5.7% drawdown. Solana fell 4.7% to $92.38, while the privacy-focused Zcash stands out as a major underperformer, plunging 11.8% to $246. XRP has tumbled 11.4% to $1.40, marking its lowest point since November 2024, around the time President Donald Trump was re-elected.
Although the crypto price charts are deep in the red, presales have been holding up well. Investors are pushing millions into these early-stage projects – Bitcoin Hyper (HYPER), for instance, has already passed $31.2 million. Analysts believe that its capabilities as a Layer 2 (L2) solution for Bitcoin, and its upcoming token launch, make it the best crypto to buy during the dip.
Crypto Weakens on Liquidations and ETF Outflows
Bitcoin has managed to hold the crucial $70,000 support level so far today, although it’s still trading 10% lower since the beginning of the week. An AI-fueled tech stock rout has spread to risk assets, extending the cryptocurrency sector’s downtrend. Some experts, such as The Big Short investor Dr. Michael Burry, believe Bitcoin could fall further, following a pattern similar to the 2022 bear cycle.
Ethereum is feeling the heat too, as traders continue monitoring its trajectory nearing the $2,000-$2,150 support range. Crypto liquidations across the board hit $800-$875 million (based on reported ranges), and on-chain data reveals weakened demand and liquidity squeezes, while BTC spot ETF net outflows reached $2.9 billion over the past 12 days.
If you value $BTC against the S&P, then we're also hitting the lowest RSI ever on the weekly timeframe.
The last times that we were remotely close was during the bottom in the bear market in 2022 and the bottom of the bear market in 2015.
We're very close. pic.twitter.com/SHcu7A7RN7
— Michaël van de Poppe (@CryptoMichNL) February 4, 2026
Still, some analysts believe that the market is nearing a bottom. Analyst Michaël van de Poppe posted on X that Bitcoin against the S&P has reached its lowest weekly RSI on record, mirroring 2015 and 2022 cycle bottoms. He argued this could signal an impending reversal, stating, “We’re very close.”
One token that could benefit from the next Bitcoin cycle is Bitcoin Hyper, which is rapidly raising funds despite thin liquidity in the broader market.
Investors Anticipate Bitcoin Hyper’s Soon-to-Launch L2 for BTC
Bitcoin Hyper is creating a Layer 2 platform to address the inherent constraints of the Bitcoin Layer 1, which include slow transactions, high network fees, and a lack of smart contract support. The project will incorporate a Solana Virtual Machine (SVM) instance, enabling the L2 to deliver sub-second transaction speeds with transfers costing fractions of a cent.
When the Bitcoin Hyper L2 is live and operational, users can bridge BTC via a trustless Canonical Bridge to mint wrapped Bitcoin – which can be used for DeFi interactions, dApps, and even gaming. The influencer Borch Crypto addressed Bitcoin Hyper’s potential in a recent video, explaining how the Layer 2 turns $1.4 trillion in passive BTC holdings into usable assets.
As the presale continues to raise funds and development accelerates, investors await the Bitcoin Hyper mainnet launch, scheduled for this quarter. This will be followed by listings on exchanges, the launch of the project’s decentralized governance mechanism, and the release of SDK and API tools to enable developers to build dApps and support the L2’s expansion.
HYPER Presale Tops $31.2 Million: Best Crypto to Buy Now?
The HYPER presale has amassed over $31.2 million, demonstrating that a large community backs the project despite Bitcoin’s current weakness. Interested buyers can purchase HYPER at $0.0136751 per token during the current stage, with the price increasing as the presale progresses. They can also lock up their holdings to earn 37% APY dynamic rewards, which help restrict the supply once trading goes live.
With BTC having successfully tested its $70,000 support, scalable Bitcoin solutions could see heightened interest, especially if the coin reverses the trend. The ongoing cycle could be different now, especially as more institutions are involved with Bitcoin than in previous years.
Many investors consider Bitcoin Hyper to be the best crypto to buy this year for a few simple reasons: it has a low entry price, shows strong presale momentum, and could deliver outsized returns if Bitcoin returns to the green.
