Market sentiment remains fragile in early February 2026, with Bitcoin's weakness cascading into major altcoins. Bitcoin is trading near recent lows around $69,500, failing to spark a meaningful recovery and dragging down the broader market. This environment has placed significant pressure on assets like XRP, Cardano (ADA), and the memecoin PEPE, all of which are trading at uncomfortable, stretched levels.
A prominent narrative adding to market anxiety is the perceived quantum computing risk to Bitcoin. During Galaxy Digital's earnings call, CEO Mike Novogratz revealed that a client sold approximately $9 billion worth of Bitcoin, citing quantum computing concerns as the primary driver. This event, highlighted by EasyA co-founder and XRP community figure Dom Kwok, has brought the long-term theoretical threat into immediate market discourse. Ethereum co-founder Vitalik Buterin has also previously warned about quantum risks.
In response, the crypto industry is exploring quantum-resistant solutions. Notably, developers on the XRP Ledger have begun testing post-quantum signature schemes on test networks, positioning XRP as a potential early mover in addressing this future security challenge, though these upgrades are not yet live on the mainnet.
From a technical perspective, XRP has broken down hard from its descending channel, trading in the $1.30-$1.40 zone—a level not seen in about 14 months. This breakdown has turned old channel support near $1.85-$1.90 into a key resistance area. Analysts suggest that for any bullish structure to improve, XRP needs to reclaim the $1.90 level on a daily close. On the downside, the $1.20-$1.00 zone is viewed as critical support.
Cardano (ADA) appears similarly bearish, having pushed below its 2024 lows and slipped under its own descending channel. Price is hovering around $0.27, with the $0.20 level seen as a major psychological support. A daily close back above $0.35 is identified as necessary to invalidate the current bearish structure.
PEPE, while still in a bearish descending channel, is showing signs of potential compression near a key support zone between $0.0000040 and $0.0000043. Analysts note that selling momentum appears to be slowing. For a bullish reversal, PEPE would need to reclaim the $0.0000060-$0.0000065 resistance area.
Amidst these market dynamics, a new project called Bitcoin Hyper is gaining attention. It is a Bitcoin-focused Layer 2 solution aiming to bring Solana-like speed and lower costs to the Bitcoin network. Its ongoing presale has reportedly raised over $31.2 million, with the $HYPER token priced at $0.013635 and offering staking rewards of up to 37%.
