Despite a brief surge toward $72,000 on February 9, Bitcoin has slipped back to $69,729. The dip signals a cautious, range-bound phase in the crypto market today.
Ethereum’s exchange supply has hit a ten-year low. This could spark extreme volatility if buying pressure returns.
US Fed's ‘skinny’ master accounts proposal promises direct access to US payment rails to crypto firms. Traditional banks have filed a joint opposition against it.
Crypto prices today reveal a market struggling to catch its breath after Bitcoin’s failed attempt to hold the $70,000 psychological milestone. While yesterday’s headlines were filled with excitement over Japan's election and the Takaichi Trade, the reality on February 10, 2026, is full of investor wariness amid US regulatory uncertainty.
Bitcoin price dropped to $69,729.50, while altcoins traded in the red zone. The global market cap also went down 1.62% to $2.37 trillion at press time. Here is why the crypto market is down today, based on CoinMarketCap data.
Bitcoin price traded at $69,729.50, down 1.75% in the past 24 hours. It’s a sharp decline from February 9th’s high of $72,000. The leading cryptocurrency’s market cap stood at $1.39 trillion with a trading volume of $49.16 billion.
CoinSwitch Markets Desk noted, “BTC remains range-bound between $68,000 and $71,000, consolidating as traders stay cautious due to broadly bearish sentiment and a lack of near-term catalysts. Markets appear to be waiting for direction from other assets before capital rotates back into BTC.”
CoinSwitch analysts further explained, “On the institutional side, Strategy added 1,142 BTC in the first week of February, deploying roughly $90 million at an average price of $78,815, signaling continued long-term conviction. From a trading perspective, a break above $71.8K could trigger a short squeeze toward $73,000-$74,000, while a loss of $69,500 exposes downside toward the $66,000-$68,000 support zone.”
Ethereum price slipped 1.01% to $2,066.57, with a market cap of $249.42 billion. The second-largest cryptocurrency continues struggling to build momentum above the psychological $2,000 level.
According to recent data, the amount of Ethereum held on exchanges has dropped to mid-2016 levels. This tight supply could mean more price swings ahead. Fewer coins available on exchanges can lead to sharper moves when buying or selling pressure increases.
Ethereum currently sits below its major moving averages, confirming a bearish trend in the short term. The $2,000-$2,100 zone now acts as fragile support. Losing this level could push the Ethereum price down to $1,700 or even $1,500.
Ethereum co-founder Vitalik Buterin recently criticized modern DeFi platforms, according to a CryptoPotato report. Buterin said that depositing stablecoins like USDC into lending protocols doesn't count as true decentralized finance. He argued that real DeFi should focus on ETH-backed algorithmic stablecoins rather than centralized assets.
Solana price dipped 0.97% to $86.34 with a market cap of $49 billion. XRP price was down 0.12% at $1.44, and Dogecoin slipped 1.44% to $0.09519. Cardano and BNB decreased 1.94% and 1.07% to trade at $0.2670 and $635.78, respectively.
Bitcoin Cash continues to hold the tenth position in the world’s top ten coins by market cap. The coin traded at $525.29, down 0.70%. TRON declined 0.11% to $0.2785. Stablecoins, on the other hand, showed steadiness. USDT and USDC were trading near their $1 peg, with USDT unchanged at $0.9993.
Also Read: French Police Arrest 6 After Magistrate Kidnapping Linked to Crypto Ransom
Here are the top global cues impacting crypto prices today.
Trump's America First Crypto Program proposes a US Strategic Crypto Reserve including Bitcoin, Ethereum, XRP, Solana, and Cardano. The announcement, back in March 2025, sparked major rallies with Bitcoin spiking toward $94,000 from $86,000.
The plan has divided the crypto community. Supporters see it as a validation of digital assets and a tool for US financial leadership. However, critics warn that a government-controlled reserve goes against crypto's decentralized principles. It could become a political weapon depending on which administration is in power.
Questions remain about who manages the reserve wallets, how assets are valued on the federal balance sheet, and what happens when future administrations take different approaches. This uncertainty is weighing on crypto prices today as traders wait for more concrete details, and skepticism grows about whether the reserve will materialize as promised.
Federal Reserve Governor Christopher Waller indicated that the central bank is pushing to roll out a ‘skinny’ master account by the end of 2026. This would allow stablecoin issuers like Circle and firms like Anchorage Digital to settle payments directly on the Fed’s balance sheet. Thus, directly giving access to the US Federal Reserve. This would bypass the ‘sponsor banks’ that currently charge crypto firms high access fees, potentially saving the industry billions in operational costs.
However, major US banking organizations, including the Bank Policy Institute and The Clearing House, have officially filed a joint opposition against crypto and fintech firms getting direct access to the Fed’s payment system. They are demanding a 12-month observation period and balance caps to prevent what they call ‘bank run risks.’
The demand for a more sophisticated digital asset oversight is increasing in India, especially since the release of the Indian Union Budget 2026.
Raj Karkara, COO, ZebPay, “MP Raghav Chadha’s remarks in the Parliament budget debate reinforced a fundamental principle for the crypto ecosystem: ‘Prohibition is not protection. Regulation is protection’. He also spoke about the need to recognise digital assets as a distinct asset class, alongside calling for strict oversight, strong AML ring fencing, and bringing offshore activity back onshore, aligning with our long-held view that only a stringent framework can protect the financial system.”
The weakness in crypto prices today shows a market that is still healing from recent volatility. Bitcoin needs to reclaim $71,000 to prove the bulls are back in control, while Ethereum must hold $2,000 to avoid a slide to $1,700. Analysts are expecting short-term volatility until the Fed's next liquidity injection settles in and investors get more clarity on US regulations.
Also Read: Crypto News Today: Binance Buys 4,225 Bitcoin for SAFU Fund in $300 Million Stablecoin Swap
1. Why is Bitcoin price down today?
Bitcoin price is down today because the market failed to hold above the $70,000 level. After a brief rally to $72,000, selling pressure returned as traders stayed cautious. Regulatory uncertainty in the US and weak follow-through buying also reduced confidence, keeping Bitcoin stuck in a fragile recovery phase.
2. How is Ethereum performing today?
Ethereum is trading lower today at around $2,066, struggling to stay above the key $2,000 level. Even though ETH supply on exchanges is very low, overall market sentiment remains weak. Ethereum is also trading below major moving averages, which signals short-term bearish pressure and higher volatility.
3. Why is the crypto market down today?
The crypto market is down today due to renewed selling pressure and rising uncertainty around US crypto regulations. Bitcoin slipping below $70,000 triggered weakness across altcoins. Investors are also reacting to unresolved questions around Trump’s crypto reserve plan and the Federal Reserve’s stance on crypto access.
4. What is the latest crypto news?
The biggest crypto news today includes uncertainty around Trump’s proposed US Strategic Crypto Reserve and a growing dispute over Federal Reserve access for crypto firms. US banks are opposing direct Fed access for crypto companies, while the Fed is exploring a ‘skinny’ account, keeping markets cautious.
5. What is Cardano price today?
Cardano price today is around $0.267, down nearly 2% in the last 24 hours. ADA is moving lower along with the broader crypto market as risk appetite remains weak. Like other altcoins, Cardano is struggling to attract fresh buying amid regulatory uncertainty and overall market caution.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.