Cryptocurrency market analysis [February 10]

Bitcoin, after a multi-billion dollar crash70,000 level reclaim

Bitcoin (BTC) temporarily fell to the six-figure range due to the “flash crash” that occurred last Thursday, but by Monday morning it showed a rebound and was again hovering around the major 70,000 level.

Recently60,000 to70,0001,000 is sideways, but the downtrend in major altcoins remains unrelieved.

Bitcoin daily chart

Looking at the entire crypto asset market, a small rebound is confirmed after last week's broad selling pressure, but the sector’s overall trend remains weak. The total market cap of crypto assets today fell by another2.2%, with many large assets in the red on both daily and weekly timeframes.

Bitcoin (BTC) has undergone a temporary plunge and is currently trading near-3% lower than the previous day, around69,280 dollars, with unstable momentum continuing.

Market sentiment and major currency trends

As of 9 date, the “Crypto Fear & Greed Index” has doubled from the previous day’s “7” to “14,” but by classification it remains in the realm of “Extreme Fear,” highlighting investors’ cautious stance.

Ethereum (ETH) is also in a tough situation. Today, over the past 24 hours, it fell3.8% and is hovering just above the $2,000 level.

In the last7 days, losses have expanded to around12%. Within the top 10 by market cap, many tokens are falling, with Solana (SOL) dropping about4% in a day, indicating major coins dragging the downturn.

On the other hand, among the top 100 by market cap, some assets show independent movements. Rain (RAIN) rose11%, and World Liberty Financial (WLFI), associated with the Trump family, rose6%, outperforming the wider weak market.

Spot ETF inflows and outflows

Looking at ETF (exchange-traded fund) trends, in the week up to June, there was a net outflow of Bitcoin spot ETF worth6$310 million. Late in the week, there was net inflow exceeding$330 million per day, but overall for the week selling dominated. SoSoValue’s data show cumulative net inflows reaching$547 billion.

Meanwhile, the Ethereum spot ETF recorded weekly net outflows of$166 million during the same period. Excluding February 3, daily net outflows continued, but cumulative net inflows remain around$118 billion.

The volatile four months: market cap lost $2 trillion

The cryptocurrency market has undergone dramatic changes in just four months.

On October 6, 2025, the total market cap reached a record high of$4.3 trillion.

However, it has since contracted to$2.3 trillion. In just four months, about$2 trillion (roughly46%) in value disappeared. The bear market proves again that investors are most careless and bullish just when it bites.

U.S. Treasury Secretary and Japan market after the Liberal Democratic Party victory

Japan's House of Representatives election: Takai administration’s rise and market expectations

In Japan’s House election, the Liberal Democratic Party achieved a historic landslide, securing 315 seats on its own. Markets expect a “gift rally,” anticipating stock gains, yen depreciation, and rising interest rates under a Takai administration. However, considering real economy and FX stability, the government’s ideal might be a higher stage of “Japan buy (stock up, yen up, rates down).”

Minister Katayama’s remark that he wants to “dialogue with the market” signals the government’s close watch on forex and interest rates. The stock market is basking in a bullish “party time,” but attention remains on whether this week’s U.S. jobs data and CPI will propel Takai’s market or cool it. Also, pre-Chinese New Year positioning by Chinese investors in precious metals and crypto is a warning signal.

· Key points of Minister Katayama’s remarks

· If necessary, he will continue ongoing market dialogue on Mondays.

· Zeroing the consumption tax on food will be implemented for a two-year period, without relying on deficit-financed bonds.

Also, Attorney Bessent notes that the sharp movement in gold prices is due to China’s “unorderly trading.”

Comparison of crypto-related policies of domestic parties

Among crypto-related policies, the Democratic Party for the People shows the most proactive stance.

· Democratic Party for the People

Proposes economic stimulation through investment tax cuts and presents concrete measures:

· Introduction of separate taxation on crypto assets (tax rate 20%)

· Application of loss carryforward deductions

· Tax exemption when exchanging between crypto assets

· Increase leverage from 2x to 25x

· Introduction of crypto ETFs

· NFT, digitization of yen as electronic money, promotion of digital regional currencies

· Prevention of tampering of public documents via blockchain

· Japan-originated global industrial nurture

· Liberal Democratic Party

· Use of blockchain technology to solve social issues and create new financial services

· Tokenization of real assets (RWA) and rights, promotion of DAO (decentralized autonomous organizations)

· NFT market expansion with review of regulations and taxation

· Japan Innovation Party

· Securing international competitiveness through rethinking excessive regulation and accelerating payments innovation

· Blockchain research and implementation promotion within national and local governments

· NFT promotion and realization of Internet voting

· Sanseito

· Plan to introduce Internet voting using blockchain

· Team Mirai

· No current mentions

Latest news surrounding Bitcoin

U.S. Bitcoin stockpiling policy

At the Davos Conference, Secretary of the Treasury Janet Yellen stated that the United States, regarding seized Bitcoin, would prioritize damages processing and incorporate it into a “Digital Asset Reserve.” The initial target to halt sales has been achieved, and with the passage of the Genius Act (stablecoin regulation), the United States is reaffirming its stance to reclaim leadership in digital asset innovation.

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(This report has been delivering at the forefront of the market since its publication began in2016.