The crypto market’s sharp decline in the past 24 hours has triggered widespread losses, with Bitcoin’s crash impacting altcoins significantly. Some tokens faced even deeper corrections, hitting new all-time lows amid the sell-off.  

BeInCrypto has identified three major tokens that reached a new all-time low despite their prominence in the market.

Arbitrum (ARB)

Arbitrum’s price saw a significant 40% decline over the past 24 hours, dropping to a new all-time low of $0.345. This sharp fall comes amid increased market uncertainty, raising concerns about the altcoin’s short-term stability.

The decline followed Arbitrum’s failure to maintain support at $0.473, which has left the token vulnerable. If the altcoin falls further below $0.345, it could form new lows, exacerbating investor losses and creating a bearish outlook. The market sentiment remains fragile amidst the recent drop.

Despite the significant loss, Arbitrum has managed to recover slightly, currently trading at $0.416. This recovery offers a potential opportunity for the altcoin to reclaim the $0.473 support level. If successful, the token could see a rebound, invalidating the current bearish outlook.

Blur (BLUR)

BLUR experienced a 26% drop over the past day, trading at $0.124. The $0.103 level marked a new all-time low for the altcoin. This steep decline has raised concerns among investors, signaling potential further downside if the current trend persists.

This all-time low marks the first since August 2024, highlighting the altcoin’s vulnerability. If BLUR continues its current trajectory, it could fall below the $0.100 threshold, further eroding investor confidence. Continued bearish pressure may extend the downtrend, leading to greater losses.

A successful recovery to $0.125 and flipping this level into support would shift the momentum. If BLUR can maintain this support, a rally toward $0.170 or higher is possible, invalidating the bearish thesis. This rebound could offer hope for those looking for a recovery.

Daddy Tate (DADDY)

DADDY experienced a 30% drop during the intra-day low today, forming a new all-time low at $0.0317. Initially gaining traction as a meme coin backed by Andrew Tate, its price has since faced significant losses. This sharp decline signals increased uncertainty around the token’s future performance.

Despite the steep drop today, DADDY had already been on a downtrend for the past three weeks. After failing to secure the $0.0680 support level, the altcoin continued its slide. A sustained decline could push the meme coin closer to $0.0300, amplifying investor concerns.

Reclaiming $0.0459 as support would invalidate the bearish outlook for DADDY. If the meme coin successfully flips this level into support, it could signal a potential recovery. Breaking through $0.0541 would strengthen the bullish case, offering hope for a price reversal and renewed investor interest.

Crypto inflows experienced a significant downturn last week, retreating to $527 million amid volatile market sentiment.

This marks a stark decline in inflows into digital asset investment products compared to the two subsequent weeks leading up to the last one.  

DeepSeek Hype Affects Crypto Inflows

The latest CoinShares report indicates that crypto inflows only reached $527 million in the last week of January, reflecting the influence of broader market trends on investor sentiment. It marks a notable deviation from what was seen during the weeks before that.

As BeInCrypto reported, the two weeks leading to the last saw crypto inflows hit $1.9 billion and $2.2 billion, respectively. CoinShares’ James Butterfill ascribes the retraction in crypto inflows to the hype around DeepSeek, the AI agent that recently sucked liquidity from crypto and stock markets.

“Digital asset investment products saw inflows totaling $527 million last week. However, intra-week flows reflected volatile investor sentiment, heavily influenced by broader market concerns, such as the DeepSeek news, which triggered $530m in outflows on Monday,” an excerpt in the report read.

News on China’s AI platform triggered $530 million in outflows on Monday. While the initial DeepSeek frenzy led to a shrink in crypto inflows, the market rebounded later in the week. There were over $1 billion in fresh inflows. However, it was not enough to sustain the trend of inflows near the $2 billion mark, a threshold set during the second and third weeks of January.

The resilience to maintain positive flows suggests that, despite intermittent pullbacks, investor confidence in the crypto sector remains relatively strong. Bitcoin (BTC) continued to attract investor interest, recording inflows of $486 million last week.

A week ago, DeepSeek-related euphoria led to $1 billion in crypto liquidations in a single day. This exacerbated the industry’s prevailing uncertainty. Furthermore, its impact extended beyond digital assets, rattling crypto miner stocks, artificial intelligence-related equities such as Nvidia, and AI tokens.

“DeepSeek vibes are definitely shaking things up,” said Emily, a popular user on X.

These remarks reflect the widespread uncertainty permeating the industry. However, the industry has seen signs of recovery, particularly among AI agent coins, which rebounded in response to DeepSeek’s misfortunes.

Beyond the DeepSeek-induced setbacks, broader economic concerns, such as trade tensions and US jobs data, could influence inflows into digital asset investment products this week.

As BeInCrypto reported, trade tensions sprouting from President Donald Trump’s new tariffs have already caused over $2 billion in liquidations. According to Coinglass data, over 730,000 traders were blown out of the water on Monday.

Amid the broader market downturn, user activity on the Layer-1 (L1) network Ethereum has plummeted to its year-to-date low. This comes as the value of Ethereum’s native token, ETH, sinks below the $3,000 mark for the first time since November.

With a strengthening bearish sentiment, ETH could extend its price decline in the short term.

Ethereum Sees Decline in User Activity

On February 2, ETH fell to a five-month low of $2,143 before making a slight rebound. While this price dip is part of a broader market decline, a key factor contributing to ETH’s struggles is a reduction in the active addresses on its network. 

According to Glassnode, the daily count of active addresses on the Ethereum network fell to a year-to-date low of 420,346 on February 2. 

A decline in Ethereum’s active addresses suggests reduced user activity on the network, indicating lower transaction volumes and engagement with the decentralized applications on the blockchain.

The drop in demand can weaken ETH’s price momentum, as fewer transactions mean less network utility and a reduced burn rate, making ETH more inflationary. This has been the case for the leading altcoin, whose circulating supply has added 12,066 ETH over the past week. 

According to Ultrasoundmoney, 12,066 ETH, valued above $31 million at current market prices, have been added to the altcoin’s circulating supply in the past seven days. 

When more ETH tokens enter circulation like this, the overall supply available for purchase rises. This typically results in a price drop, especially as the increased supply can exceed demand.

ETH Price Prediction: More Pain Ahead for Coin Holders?

ETH trades at $2,595 at press time, noting a 16% price drop over the past 24 hours. The coin’s negative Balance of Power (BoP) on the daily chart reflects the strong selling pressure. At press time, the indicator stands at -0.38.

The BOP indicator measures the strength of buyers versus sellers by analyzing price movements within a given period. When BOP is negative, sellers have more control, indicating bearish momentum and potential downward pressure on the asset’s price.

If the downtrend continues, ETH’s value could fall to $2,500. If this support level fails to hold, the altcoin’s price could drop further to $2,224.

However, a positive shift in market trends could propel ETH’s price to $2,811.