Crypto Capitulation Deepens as Prices Slide to Multi-Year Lows
A wave of forced liquidations, ETF outflows, and collapsing miner economics pushed crypto sentiment to its darkest levels since 2022 as markets hunt for a bottom.
Posted February 6, 2026 at 7:40 am EST.
Crypto markets extended last week’s selloff into a full-blown capitulation, with sentiment hitting levels last seen during the 2022 collapse. As of 5:50 am ET, bitcoin was trading near $65,900, after briefly plunging toward $60,000, while ether fell to $1,920 and solana slid to $81.
The Crypto Fear & Greed Index dropped to 9 out of 100, its lowest reading since the Terra meltdown.
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