Crypto’s Weekend Washout Tests Conviction After a Brutal Week
A thin-liquidity weekend selloff wiped out $2.5 billion in leveraged longs, dragging bitcoin below key psychological levels and exposing how fragile market positioning has become.
Posted February 2, 2026 at 6:45 am EST.
After a bruising week for markets, the weekend delivered a full-blown crypto washout.
Bitcoin slid relentlessly through thin weekend liquidity, briefly dipping into the low $74,000s before clawing its way back toward $76,000. Ether saw even heavier damage, falling below $2,200 at one point, while most large-cap altcoins followed lower.
With traditional markets closed and institutional desks…
