Crypto News Daily Squeeze

Is this just a pullback... or something worse?

Written by Gode S.,

Web3 Market Analyst

Last Updated: February 03, 2026

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Plus: No agreement after hours of stablecoin debate

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GM. Just when the market seemed seedless, crypto's gone full tropical on us.

Let's slice into the news:

🍍 Where is the crypto market headed?

🏛️ White House stablecoin meeting;

🍋 BitRiver faces court scrutiny, NY fraud concerns over GENIUS Act + more

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🍍 Market flavor today

Find out more about the Fear & Greed Index here.

Name		Price	24H	7D
Crypto Market Cap: $2.60T -1.2% (24H)
	Bitcoin BTC	$76,676.45	-2.96%	-13.21%
	Ethereum ETH	$2,251.34	-4.99%	-24.06%
	BNB BNB	$764.79	-1.62%	-14.09%
	XRP XRP	$1.59	-3.53%	-16.41%

Prices as of 11:00 AM EST. Click here to see live data.

Yeah... the charts still aren't looking pretty.

Most cryptos are drowning in red, billions in leverage got wiped, sentiment went from "we're fine" to "we actually might be cooked", and traders remembered that crypto is still a feelings-based asset.

Anyway. The big question now: is this just a pullback... or the start of something uglier?

Bitcoin price chart from BitDegree, 02-03

Source: BitDegree

Analysts are split.

👉 The more bearish camp of analysts sees the current situation as unresolved risk.

Their view is that macro conditions are still unfriendly - rates, the dollar, broader risk markets wobbling.

As a result, buyers aren't stepping in aggressively. They simply don't trust the backdrop yet.

These analysts think prices could go lower or stay choppy until either macro improves or the market fully exhausts sellers.

Translation: this could turn into a longer, messier correction. Sideways. Volatile. Annoying.

Disappointed Jim Halpert

👉 Meanwhile, the cautious-but-not-panicked analysts see something different.

They argue this looked less like "the start of a bear" and more like "a violent reset."

Leverage washed out. Weak hands gone. Price bounced right where long-term buyers usually show up.

From their perspective, that's what healthy bull markets do - they scare people mid-cycle, then keep going. Not straight up. Just... eventually, if conditions allow.

Plus, we've got this situaysh:

👉 Larger buyers didn't rush for the exits during the selloff. At the same time, they didn't step in aggressively either.

👉 Spot demand showed up selectively - enough to prevent further acceleration lower, not enough to spark momentum.

That combo usually signals patience, not panic.

Now, without renewed confidence, rallies struggle. Every small uptick gets tested. Every move higher needs proof.

That's why analysts expect the next phase to be slower and messier than the last one - more range-bound action, more false starts, fewer clean trends.

So are we going lower?

👉 Short term, analysts say it's possible. If macro pressure increases, price could probe lower support zones before real demand shows up. That risk is still on the table.

👉 But many don't see this as the start of a prolonged bear market. The base case is frustration, not collapse. A market that forces participants to slow down, manage risk, and wait for confirmation rather than chase momentum.

Overall, analysts don't see a broken market, but they don't see a green light either.

This feels like crypto in evaluation mode. Not deciding where it's going next... but deciding whether it trusts the environment enough to go anywhere at all.

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🥝 Memecoin harvest

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🏛️ White House stablecoin meeting

This week, crypto found itself in a familiar but important place: the policy spotlight.

The White House brought together:

👉 senior government officials

👉 major US banking groups

👉 leading crypto companies

... to try to unblock stalled crypto legislation by resolving one major disagreement around stablecoins.

The specific question on the table:

Should crypto companies be allowed to pay rewards to people who hold stablecoins?

Eleanor Terrett's tweet about White House stablecoin meeting

Source: @EleanorTerrett

And after hours of discussion, the result was:

👉 No agreement;

👉 No immediate policy change;

👉 ... But also no breakdown in talks.

Everyone called it "productive." The disagreement just didn't disappear.

Brendan Pedersen's tweet about White House stablecoin meeting

Source: @BrendanPedersen

To understand why this issue is so sticky, you have to look at what stablecoins are. They're not flashy - and that's their superpower.

Because once money is stable, people start using it: for payments, payroll, sending money across borders, as the base layer for apps that feel more like fintech than crypto, etc.

Now add rewards into the mix.

From the crypto side, the logic is simple:

👉 The technology is efficient;

👉 There are fewer intermediaries;

👉 Users benefit from better economics.

From the banking side, the concern is also simple:

👉 Rewards look a lot like interest;

👉 Interest usually comes with strict rules;

👉 Rules exist to protect the system when things go wrong.

So this isn’t really about incentives. It's about where trust lives in a digital money system.

And that's why the White House got involved: to keep innovation from drifting into a regulatory no-man's land.

Meme about Thomas the Train Engine seeing a mess

And here's the important thing underneath all of this:

👉 Crypto isn't arguing whether it belongs anymore. It's negotiating how it fits.

👉 Banks aren't dismissing stablecoins as a scam. They're treating them as real alternatives for holding and moving money.

So yeah, nothing changed overnight. No law passed. No side "won."

But this meeting showed where crypto now stands in the hierarchy of importance: important enough that unresolved details can hold up national legislation.

That's what happens when an industry grows up and starts getting taken seriously.