Bitcoin Futures Plunge After Weekend Crash While CME Was Closed

🚨 Futures gap down

By CoinDesk
Feb 2, 2026, 3:01 PM

Bitcoin futures are trading significantly below Friday's close after a sharp weekend drop occurred while the CME was shut for trading.​

Key developments:

  • Nearly $290 billion in total crypto market cap was wiped out during the thinly traded weekend selloff
  • Bitcoin futures now reflect a substantial gap down from last week's closing levels
  • Markets have since stabilized, with bitcoin showing little change Monday despite elevated volatility

The weekend timing—when traditional futures markets were closed—amplified the price disconnect.​ Analyst Eric Crown warned the market may face months of further downside following the liquidation cascade.​

Options markets are signaling rising tail risk as traders adjust to the new volatility regime.​ The sharp move has reignited questions about bitcoin's short-term stability, with crypto equities remaining under pressure ahead of the U.​S.​ market open.​

Sources
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