The entire crypto sector suffered a severe blow, with PayFi leading the decline at nearly 14%, and BTC briefly falling below $60,000.

PANews reported on February 6th that, according to SoSoValue data, the entire cryptocurrency market suffered a severe blow, with most stocks falling by approximately 7% to 14% in the past 24 hours. The PayFi sector led the decline at 13.86%, with XRP and Litecoin (LTC) falling 12.58% and 13.87% respectively, and Monero (XMR) dropping 20.28%. Meanwhile, Bitcoin (BTC) fell 10.10%, briefly dipping below $60,000 before recovering to above $65,000; Ethereum (ETH) fell 10.08%, briefly dropping to $1,700 before settling at $1,900.

In other sectors, the DeFi sector fell 7.41% in the last 24 hours, but MYX Finance (MYX) and Hyperliquid (HYPE) bucked the trend, rising 9.68% and 6.07% respectively; the Layer 1 sector fell 9.93%, with Zcash (ZEC) falling 16.20%; the CeFi sector fell 10.64%, with OKB falling 12.35%; the Meme sector fell 12.17%, with MemeCore (M) remaining relatively strong, rising 2.78%; and the Layer 2 sector fell 13.06%, with zkSync (ZK) rising 4.90% intraday.

The crypto sector indices, which reflect the historical performance of the sector, show that the ssiPayFi, ssiAI, and ssiDePIN indices fell by 15.49%, 14.96%, and 14.93%, respectively.