When the market loses the equivalent of France and Britain's GDP at once: an analysis of the historical decline

In just 30 minutes, the value equivalent to the combined gross domestic product of France and the UK was wiped out from global markets. What numbers are we talking about? Approximately $5.9 trillion. This is a decline that, in terms of speed and scope, has no parallel in the last decade. It’s not an ordinary correction — it’s a structural disruption of the market’s very stability.

Mechanics of an abnormal decline: why did what happened happen

Extreme movements of this scale usually don’t occur without cause. An analysis of market structure reveals a series of interconnected failures:

Immediate position closures — When adverse signals appeared, investors roughly simultaneously initiated exit strategies. Chain margin calls — The decline in collateral triggered automatic liquidations on derivatives platforms. Erosion of guarantees — When prices fall across all assets simultaneously, the risk of systemic risk escalation intensifies. Forced sales — Institutional players are compelled to reduce exposure regardless of current prices.

Such a scenario is not typical market behavior. It’s a symptom of a system with inherent fragility.

Where did the safe havens go?

What’s even more concerning: even traditionally safe assets didn’t escape the pressure. When precious metals and bonds move in the same direction as risky assets — it’s a sign of widespread deleveraging. This isn’t local panic. It’s a global shift.

Current market state: where we are now

Let’s look at specific data from February 9, 2026:

• BTC: $70,350 USD (-0.53% over 24 hours)
• ETH: $2,120 USD (+1.05% over 24 hours)
• SOL: $87.38 USD (+0.65% over 24 hours)

The data shows that the market has partially stabilized with mixed signals — Bitcoin and Solana under pressure, Ethereum showing slight growth.

What this means for the coming period

We are witnessing the beginning of a new phase of market behavior. The next days are likely to be characterized by increased volatility until market participants reorient themselves. Key will be monitoring how aggregated liquidity behaves and whether investor sentiment shifts.

As in the past — we will track developments step by step.