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#MarketRally The cryptocurrency market is currently experiencing a volatile recovery following a severe multi-week sell-off that erased trillions in market value. As of 7 February 2026, the total crypto market capitalization has rebounded approximately 3.45% to 4.5% in the last 24 hours, currently standing between $2.33 trillion and $2.45 trillion. 

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Current Market Status (7 February 2026)

After hitting a 16-month low of approximately $60,000 earlier this week, Bitcoin (BTC) staged a significant one-day recovery—its largest since March 2023—briefly reclaiming the $71,000 mark on Friday. However, it remains roughly 8% down for the week. 

Exchange rates chart

As of 7 Feb, 14:25 GMT • Disclaimer

BTC

ETH

7 Feb 2026 00:00 - 14:25

Chart summaryAsset nameAsset pricePrice deltaPer cent delta

BTC

£50,708.03

2.10%

ETH

£1,502.47

0.80%

Key Market Movements

Bitcoin (BTC): Trading at approximately $68,459 (up 4.29% in 24 hours). It hit a cycle peak of $126,272 in October 2025 but has since retraced significantly.

Ethereum (ETH): Recovering toward $2,022 (up 6.22%), though it remains under pressure following large-scale liquidations, including a $686 million loss by trading firm Trend Research earlier this week.

Altcoins: Leading gainers include XRP (up 7.79% to $1.41), Solana (up 6.48% to $85.32), and Bitcoin Cash (up 10.47%).

Crypto Stocks: Companies like Strategy (MSTR), Bakkt (BKKT), and MARA Holdings rallied between 13% and 25% on 6 February following the Bitcoin relief bounce. 

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Drivers of the Relief Rally

The recent rebound is attributed to a "day of consolidation" for risk assets, supported by a strong recovery in US technology shares (Nvidia, Microsoft, Tesla). Investors are also monitoring shifting macroeconomic signals, including: 

Fed Policy: Expectations of rate cuts resuming in 2026 could potentially bring rates down to 3–3.25%, increasing global liquidity.

#solana Our most recent Solana price forecast indicates that its value will increase by 2.96% and reach $92.35 by February 08, 2026. Our technical indicators signal about the bearish Bullish 13% market sentiment on Solana, while the Fear & Greed Index is displaying a score of 12 (Extreme Fear).

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