Crypto Prices Today: Bitcoin Price Above $78,000, Cardano at $0.2987 as Hyperliquid Breaks Top 10

Overview:

• Bitcoin rebounded to $78,619 as whales absorbed panic selling and defended key support levels.

• The US Crypto Market Structure Bill gets delayed further. Meanwhile, the DOJ emails release shows Jeffrey Epstein’s early participation in crypto through Coinbase.  

• Hyperliquid took Cardano’s position in the world’s top ten cryptocurrencies with its outcome-based trading proposal.

The crypto market today is staging a gritty, high-stakes comeback by the big players. Monday (February 2) was a bloodbath as Bitcoin slid to $76,282 in the morning trade and the world’s top ten coins ended up in the red zone. However, February 3 seems to be the day of recovery.

Bitcoin has climbed back over the $78,000 mark by press time. All the top cryptocurrencies have followed suit, getting on an uptrend. It’s a classic tug-of-war where the whales are absorbing the panic of the retail crowd, essentially re-anchoring the market’s floor.

What’s truly fascinating right now isn't just the recovery, but the aggressive shift in the industry's hierarchy. Hyperliquid has disrupted the top ten crypto prices leaderboard by simply out-innovating on trading mechanics. This takeover of Cardano’s position at the tenth place in the world’s crypto hierarchy is a clear signal that the market is beginning to prize actual, permissionless utility over long-standing brand loyalty.

Here’s everything you need to know about the top crypto prices today based on CoinMarketCap data. 

Bitcoin Price Gains 3.16%

Bitcoin (BTC) has successfully clawed its way back above the $78,000 psychological threshold. The leading coin climbed 3.16% to trade at $78,619.82. With a massive $1.57 trillion market cap and $64.3 billion in daily volume. The ‘digital gold’ narrative appears to be attracting fresh buying interest at these levels.

CoinSwitch Markets Desk noted, “BTC price is showing signs of stability as a dip toward the $75,000–$75,500 area attracted buyers, helping price recover steadily toward $79,000, where selling pressure re-emerged. BTC has since cooled and is consolidating around $78,000–$78,500, suggesting the market is pausing after the rebound. In the near term, Bitcoin is likely to remain range-bound, with resistance near $79,500–$80,000 limiting upside and solid buying interest expected closer to $75,000.”

The CoinSwitch analysts further elaborated, “Overall, sentiment remains cautious but supported, as buyers continue to defend lower levels without strong follow-through on the upside. In other news, MicroStrategy extended its Bitcoin buying spree, adding 855 BTC worth $75.3 million during the period from January 26 to February 1. Following this purchase, the company’s total Bitcoin holdings have increased to 713,502 BTC.”

Ethereum Reclaims the $2,000 Price Levels

Ethereum (ETH) is outperforming Bitcoin in this recovery phase of crypto prices today. ETH gained 3.72% to $2,339.07 over the past 24 hours. The underlying story here is institutional appetite. Reports show that DBS Bank has been aggressively stacking ETH, recently pulling 2,500 tokens from Wintermute. This brings their weekly accumulation to nearly 25,000 ETH. When a major banking institution maintains a steady entry price (currently averaging around $2,463), it signals long-term confidence that often outweighs short-term retail jitters.

The Big Shake-up: Hyperliquid Flips Cardano

The most striking trend in today’s market is the reshuffling of the ‘world’s top ten coins’. Hyperliquid (HYPE) has officially overtaken Cardano (ADA) to become the world's 10th largest cryptocurrency. Cardano (ADA) surged 3.66% today to $0.2987. However, it has slipped to the 11th spot in global rankings.

Hyperliquid’s HYPE token exploded by 19.66%, reaching $37.71. This rally was ignited by the unveiling of HIP-4. This is a proposal to bring ‘outcome-based trading’ to its decentralized exchange. By allowing users to trade prediction markets and options-style derivatives without the complexity of liquidations or margin, Hyperliquid is carving out a massive niche in the DeFi space. This surge pushed the total DeFi sector up by over 3.5%, while Hyperliquid’s own market cap hit $11.3 billion.

Performance of Other Major Altcoins

Solana (SOL) went Up 2.96% to $104.14, maintaining its reputation as the go-to Layer 1 for high-speed activity. BNB gained 2.22%, sitting comfortably at $774.04. XRP rose 1.23% to $1.61. Dogecoin (DOGE) soared 2.64% to $0.1072, following the broader market trend, while TRON (TRX) was trading flat at $0.2832 at the time of writing.

Also Read: Crypto Market Swings: Is Bitcoin Safe or Risky in Today’s Volatile Times?

Crypto Market News Driving Sentiments

Here are the top headlines impacting crypto prices today.

Regulatory Chess: The White House and Stablecoins

While the crypto prices today charts look green, the regulatory backdrop is intensifying. The meeting on US crypto bill legislation took place on February 2 at the White House, led by President Trump’s crypto adviser, Patrick Witt. Industry titans from Coinbase, Circle, and Ripple sat across from Wall Street bankers.

The primary issue of stablecoin yield, with the US Crypto Market Structure Bill, remained. Crypto firms want stablecoins to offer rewards to users, while traditional banks argue this would create ‘catastrophic’ competition for standard bank deposits. The White House has set a hard deadline to reach a compromise by the end of February. The resolution of this bill will likely dictate the next major move for stablecoin adoption.

Jeffrey Epstein’s Crypto Involvement and Coinbase Connection

DOJ emails recently surfaced showing that Jeffrey Epstein was an early participant in the crypto space. He invested $3 million in Coinbase’s Series C round back in 2014. This highlights the eclectic and often controversial early days of the industry, where figures like Brock Pierce and Peter Thiel were exploring Bitcoin's potential as a store of value.

JP Morgan Highlights Crypto Fears

On the institutional front, there is still a mountain to climb. A JPMorgan Private Bank report surveyed 333 family offices globally and found that 89% still don’t want anything to do with crypto. While 65% are prioritizing AI, only 17% see digital assets as a priority. This ‘wait-and-see’ approach from the world's wealthiest families suggests that while the market is recovering, we aren't yet seeing the full flood of traditional wealth.

On-Chain Reality for Cardano

For Cardano (ADA), the technicals tell a story of ‘oversold’ conditions. Despite today’s bounce, ADA whales have offloaded 160 million tokens since last Thursday (January 29). This heavy selling pressure recently pushed the asset to levels not seen since late 2023. With an RSI sitting near 27 earlier this week, the current recovery looks like a mix of bargain hunting and a broader market lift, rather than a fundamental trend reversal.

Market Outlook

Crypto prices today showed investor optimism. However, the market’s trajectory hinges on whether the ‘DBS model’ of institutional accumulation becomes the rule rather than the exception.

The battle over stablecoin yields in Washington will likely act as the catalyst for the next wave of liquidity. If a compromise is reached by the February deadline, it could de-risk the sector enough for wealthy family offices to join in.

For now, as long as Bitcoin holds the $78,000 price levels, the path of least resistance appears to be upward, fueled by the innovation in the DeFi sector. The ‘flip’ of Cardano by Hyperliquid shows the market maturing. It is now favoring active protocols over passive holders.

Also Read: How Reflation Could Impact Bitcoin and the Global Economy

FAQs

1. Why is Bitcoin going up today?

Bitcoin's price is climbing today because of whale buying. When Bitcoin went down close to $75,000, big investors started buying, soaking up all the selling. Now the price has stabilized around the $78,000 levels. This happens when long-term investors think the price is a bargain and boost investment in the coin.

2. Why is the crypto market up today?

The crypto market is up because of investor optimism. The decreasing crypto prices made the tokens more affordable, which brought in the bargain hunters. Also, Bitcoin went back over $78,000, which improved market sentiments. People are excited about DeFi innovations, and big institutions are increasing their adoption, further strengthening the bullish outlook.

3. Why is Ethereum outperforming Bitcoin today?

Ethereum is doing better than Bitcoin today as the institutional adoption for the toke has surged. Big financial players are buying Ethereum without worrying about the short-term ups and downs. This means they are feeling sure about Ethereum's future in DeFi and smart contracts. When institutions keep buying, the price usually does better compared to coins that are mostly traded by regular investors.

4. How did Hyperliquid overtake Cardano in the market rankings?

Hyperliquid got past Cardano by coming up with a new DeFi proposal that got traders excited. Its an outcome-based trading proposal, which means people can invest in crypto without worrying about all margins or liquidation. This made the HYPE token popular, pushing prices up. At the same time, Cardano faced selling pressure, which allowed Hyperliquid sneak into the world’s top ten by market cap.

5. What is the latest in crypto market news?

The latest in crypto news; Bitcoin is back over $78,000, Ethereum is seeing big buys from institutions, and Hyperliquid is now one of the top ten cryptocurrencies. Also, everyone's talking about stablecoin regulations in the US, because that could change how people use crypto in the future. All this news is changing the market's direction and investors' sentiments.