Bitcoin Stalls at $79 K While Hyperliquid (HYPE) Fires Off Double‑Digit Gains
Market Watch – February 3, 2026
Summary
- Bitcoin (BTC) rebounded from a nine‑month low under $75 000 but could not break through the $79 000 resistance, trading just below that level.
- BTC’s market capitalisation fell to roughly $1.56 trillion and its on‑chain dominance climbed to 57.7 %.
- The decentralized exchange token Hyperliquid (HYPE) posted a 19 % rally to $37, outpacing most large‑cap altcoins, while CC advanced 8 % to just above $0.19.
- Overall crypto market value recovered about $70 billion, pushing the total market cap past $2.7 trillion, yet the majority of top‑tier altcoins remain flat or modestly negative.
Bitcoin’s Recent Price Action
After a turbulent week, Bitcoin finished the latest 24‑hour session hovering a few dollars shy of $79 000. The rally began from a nine‑month trough that slipped below $75 000 on Monday, the lowest point since April 2025. Earlier in the week, BTC had briefly touched $90 000 on Wednesday before the U.S. Federal Reserve’s decision to pause interest‑rate cuts triggered a gradual decline.
Geopolitical tension in the Middle East contributed to a sharp sell‑off on Thursday, pushing the price to a multi‑month low near $81 000. A brief bounce to $84 000 on Friday and early Saturday was erased when the cryptocurrency market, together with precious metals, experienced a synchronized drop. Uncharacteristically for a weekend, Bitcoin fell from $83 000 to $76 000 on Saturday before clawing back to just under $79 000 on Sunday.
The inability to sustain a breakthrough above $79 000 suggests that the level now acts as a short‑term ceiling. With a market cap of $1.56 trillion, Bitcoin’s share of the total crypto market has risen to 57.7 %, indicating that altcoins are struggling to keep pace.
Altcoin Landscape
Most large‑cap altcoins mirrored Bitcoin’s downward drift over the past several days. Ethereum (ETH) suffered the steepest decline, sliding from a peak above $3 000 to under $2 300. XRP, TRX and XLM are marginally in the red, while SOL, BNB, ADA and BCH posted only minimal upside.
Hyperliquid (HYPE), a token tied to the Hyperliquid DEX, stood out by posting a 19 % surge to $37, making it the top performer in the 24‑hour window. The token’s momentum was accompanied by a notable rally in the CC token, which rose 8 % to a little above $0.19. These moves contrast sharply with the broader market’s sluggishness and hint at sector‑specific interest, possibly driven by recent product updates or heightened trading volume on the Hyperliquid platform.
The aggregate market capitalization, which had dipped to a trough earlier in the week, rebounded by roughly $70 billion and now sits above the $2.7 trillion mark, according to CoinGecko data.
Analysis
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Resistance at $79 K – The price ceiling around $79 000 appears to be a strong technical barrier. Volume profiles from the past two weeks show sellers stepping in near this level, limiting further upside despite the recent bounce.
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Dominance Shift – Bitcoin’s dominance approaching 58 % underscores a risk‑off sentiment among investors. As altcoins fail to demonstrate resilience, capital continues to flow into BTC, reinforcing its market‑share advantage.
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Hyperliquid’s Outperformance – HYPE’s double‑digit rally suggests that niche exchange tokens can decouple from the broader market narrative, especially when they receive platform‑specific catalysts (e.g., new liquidity incentives, integration with major trading bots). The token’s volatility also makes it a candidate for speculative short‑term trades.
- Macro Influences – The Fed’s pause on rate cuts removed a potential bullish catalyst for risk assets, while escalating Middle‑East tensions added geopolitical risk, both of which contributed to the downward pressure on BTC and many alts.
Key Takeaways
- Bitcoin is testing a $79 000 ceiling; a clear breakout will likely require renewed macro‑economic optimism or a decisive technical catalyst.
- Crypto‑market dominance is trending toward Bitcoin, reflecting broader risk aversion among traders.
- Hyperliquid’s 19 % surge highlights the potential for exchange‑related tokens to outperform, but investors should monitor underlying fundamentals and liquidity.
- Overall market cap recovery to above $2.7 trillion indicates that the recent dip may be a short‑term correction rather than a sustained bear market.
The information herein reflects the observations of market data providers and should not be construed as investment advice. Readers are encouraged to perform their own due diligence before making any trading decisions.
Source: https://cryptopotato.com/bitcoin-btc-stopped-at-79k-hyperliquid-hype-rockets-by-double-digits-market-watch/
