The crypto market suffered a sharp, broad-based sell-off on February 6, with Bitcoin briefly slipping below the $60,000 mark as the entire crypto market cap slipped around 9%. According to SoSoValue data, most crypto assets fell between 7% and 14% over the past 24 hours, led by the PayFi sector’s nearly 14% decline. Ethereum is down over 10%, trading at $1,880. The downturn triggered massive liquidations across derivatives markets, wiping out $2.71 billion in positions, more than $2.28 billion from long bets alone, while analysts said Bitcoin’s single-day realized losses hit $3.2 billion, exceeding those seen during black swan events such as the Luna collapse and the FTX bankruptcy.

But what else is happening in crypto news today? Follow our up-to-date live coverage below.

The post [LIVE] Crypto News Today: Latest Updates for Feb. 06, 2026 – Bitcoin Briefly Drops Below $60K as Market Rout Deepens, $2.7B Liquidated in 24 Hours appeared first on Cryptonews.

The crypto market suffered a sharp, broad-based sell-off on February 6, with Bitcoin briefly slipping below the $60,000 mark as the entire crypto market cap slipped around 9%. According to SoSoValue data, most crypto assets fell between 7% and 14% over the past 24 hours, led by the PayFi sector’s nearly 14% decline. Ethereum is down over 10%, trading at $1,880. The downturn triggered massive liquidations across derivatives markets, wiping out $2.71 billion in positions, more than $2.28 billion from long bets alone, while analysts said Bitcoin’s single-day realized losses hit $3.2 billion, exceeding those seen during black swan events such as the Luna collapse and the FTX bankruptcy.

But what else is happening in crypto news today? Follow our up-to-date live coverage below.

The post [LIVE] Crypto News Today: Latest Updates for Feb. 06, 2026 – Bitcoin Briefly Drops Below $60K as Market Rout Deepens, $2.7B Liquidated in 24 Hours appeared first on Cryptonews.