The cryptocurrency market staged a powerful rebound on Feb 7, 2026, lifting total market capitalization to $2.46 trillion, a 9.1% gain from the previous day's slump. Trading volume hit $264 billion as Bitcoin and Ethereum led the recovery. Bitcoin climbed 9.22% to $69,957, while Ethereum jumped 8% to $2,040. XRP surged 18.39% to $1.45, and Polkadot also posted double-digit gains.
BTC and ETH Lead Recovery After 10.3% Crash
After a sharp sell-off on Feb 6 that erased 10.3% of market value, bargain buyers stepped in aggressively. BTC recovered from around $64,600 to near $70,000, with intraday volatility exceeding 8%. ETH climbed from below $1,900 back above $2,040. Bitcoin dominance remained high at 56.9%, and Ethereum accounted for 10.1% of total market cap.
Fear & Greed Index Hits an All-Time Low of 6
Despite the price rebound, sentiment worsened. The Crypto Fear & Greed Index dropped to 6, down from 9 the previous day and well below last month's 28. This marks the most extreme panic reading for the index. Analysts noted the divergence between price action and sentiment suggests the recovery may be technical and short-lived rather than a confirmed trend reversal.
Altcoin Movers: XRP, HBAR, BERA, BIRB
In the 24-hour gainers list, XRP traded at $1.45 with $10.67 billion volume, HBAR climbed 12.93%, BERA jumped 20.98%, and BIRB surged 36.21%. XDC Network rose 22.69% and Midnight (NIGHT) gained 24.19%. Stablecoin market cap edged up 1.2% to $310 billion, while DeFi total market cap increased 6.1% to $49.8 billion.
Market News Roundup
Binance confirmed its team helped law enforcement recover ~$131 million in illicit assets in 2025 and responded to 71,000 official requests. Bithumb accidentally credited excess Bitcoin to users during an event, later freezing accounts and recovering most funds. Sberbank plans crypto-collateralized loans for corporate clients in a pilot with Intelion Data; Russia's central bank expects to finalize regulations by July 2026.
Galaxy Digital authorized a $200 million share buyback program over 12 months. Coinbase added Superform (UP) to its listing roadmap. BitMine reported $6.6 billion unrealized losses, and U.S. pension funds suffered heavy losses in Strategy investments.
Comparison: From Crash to Rally in 24 Hours
On Feb 6, the market crashed 10.3%, erasing ~$235 billion. The next day saw a 9.1% rebound, nearly recovering that loss. BTC went from ~$64.6K to ~$70K, ETH from sub-$1,900 to $2,040. Yet the Fear Index fell from 9 to 6, indicating that investors remain risk-averse even as prices rise.
Such high volatility creates trading opportunities but also significant risk. Users should monitor sentiment indicators, volume, and macro developments before making decisions.