Market Report: Overview of the top 5 cryptocurrencies with the biggest declines on February 1, 2026, with River experiencing the largest drop.

Hyperliquid (HYPE) retreats to a key support zone as selling pressure increases

Hyperliquid (HYPE) has experienced a nearly 10% decline this week, dropping below the 50-day EMA at $28.85. Weaker buying from retail investors and increased short positions highlight bearish market sentiment, with potential risks of further declines.

Retail investors flee, whales scoop up the bottom! PEPE smart money returns, absorbing 23 trillion tokens in four months

PEPE meme coin has declined for six consecutive weeks, but Santiment on-chain data shows that smart money accumulation remains strong. The top 100 largest wallets have held approximately 23.02 trillion PEPE over the past four months. Hyperliquid well-known trader James Wynn sold off after predicting last month that PEPE's market cap could reach $69 billion.

Analysis: Last week, Bitcoin experienced the largest realized loss in history due to a sharp decline, and bottoming signals are gradually emerging.

On February 5th, Bitcoin's price dropped from $70,000 to $60,000, with on-chain realized losses reaching $3.2 billion, marking the largest single-day loss in history. This sell-off is analyzed as a typical capitulation event, potentially signaling the bottom of the bear market.

Bitcoin's epic sell-off review: $3.2 billion in actual losses set a record, and bottoming signals are emerging

Last week, the cryptocurrency market experienced intense volatility, with Bitcoin plummeting from around $70,000 to $60,000 in a short period, triggering the largest "realized loss" event in history. On-chain analysis platform Glassnode shows that the adjusted realized losses reached as high as $3.2 billion, setting a new record for the Bitcoin network. This metric measures the USD value of Bitcoin sold below cost and excludes the impact of transfers within the same entity, thus providing a more accurate reflection of genuine selling pressure. This figure even exceeds the approximately $2.7 billion loss during the 2022 LUNA collapse, indicating that the current downward sentiment shock has surpassed the darkest phase previously experienced. Data platform Checkonchain pointed out that this market movement exhibits typical "capitulation sell-off" characteristics: rapid decline, large transaction volumes, mainly driven by holders with the weakest conviction being forced to liquidate.

Pi Coin whales resume buying! Despite losing 90 million, they increase their position, purchasing 7 million coins in a single week.

Pi coin price hovers at a historic low, but Pi's biggest whale resumed purchasing after a one-month pause, buying 7 million coins worth over $938,000 last week. The whale currently holds over 383 million tokens valued at more than $50 million, down from a peak of $140 million, representing a loss of approximately $90 million.

Bitcoin drops below $66,000, Ethereum hits $1,900, non-farm payroll data causes 150,000 traders to liquidate with $470 million in losses

U.S. non-farm payrolls added 130,000 jobs in January, far exceeding expectations, with the unemployment rate dropping to 4.3%. This result significantly dampened market expectations for the Federal Reserve to cut interest rates, leading to sharp fluctuations in the prices of Bitcoin and Ethereum. Bitcoin plummeted over $3,000 in a single night, and Ethereum fell below $2,000. Although it has a short-term impact on the market, the substantial downward revision of the 2025 employment data may suggest underlying economic weakness, and investors should pay attention to future economic trends.