If I've hypoed during the night and woken, I usually feel "out of it" in the morning. I am not sure how much of this is due to broken sleep or the hypo as I've never felt like trying out the waking without a hypo.
I must admit, I feel better if I have woken than when I sleep through a hypo. In the latter case, I have what feels like the hangover from hell (headache nausea, etc.) without the vague memories of a good night beforehand.
Sometimes, like you, I find myself getting into a hypo cycle which feels impossible to get out of. To start with, the affect of the hypo is a lethargy and my brain feels as if it is struggling to fire on any cylinders so any analysis is challenging. But, once I get my brain into gear (after a few cups of tea .. because I don't drink coffee but feel better after some hydration) and think back over what may be causing the hypos, I make some adjustments and move on ... until the next cycle.
Sometimes, it is easy to work out what went wrong: for me, it is usually exercise but, occasionally, eating too late and sometimes, just because my body has decided a change. Then I can make adjustments, test, adjust more, over adjust, test, under adjust, test and finally "BINGO!" ... for a few weeks.
If you are hypoing around 1:30, have you tried reducing your basal a little until about 1am?