Just went through the February 1 2026 market recap and it's pretty wild looking back at how things played out. Bitcoin price that day was dealing with serious pressure, dropping below 81k with all the Middle East tensions and weekend liquidity issues. The volatility across the board was insane - BTC at 8.92% short, ETH swinging 16.42%, and SOL matching that at 16.51%. Some altcoins were absolutely nuts with ZORA hitting 110% volatility.

What caught my eye was how the sentiment shifted during that period. Ethereum actually fell out of the top 50 global asset rankings down to 56th, which was pretty shocking. Meanwhile some whale addresses like '7 Siblings' were actually buying the dip hard - grabbed over 12k ETH when things looked grim. I remember reading that CryptoQuant's CEO was calling it, saying the market bottom hadn't formed yet and we'd probably see a wide consolidation phase.

The really telling part was how Bitcoin got overtaken by Tesla in the rankings, dropping to 14th globally. MicroStrategy's unrealized profits got crushed and some major holders were moving positions around. There was a lot of debate about whether that 77k level was the cycle low or if we'd go lower. Looking at it now from May, it's wild to think about where we were just a few months back with bitcoin price movements being that dramatic. The 200-week MA was holding as key support for a lot of analysts watching the bear market unfold.