BTC recorded a sharp decline, briefly dropping below $70,000. The fall in the quotes occurred amid declining stock indices and a surge in liquidation volumes in the crypto market.
According to CoinGecko, on February 5, 2026, the price of Bitcoin fell to $70,119. At the same time, CoinMarketCap data shows that BTC quotes briefly dropped to $70,091, while on the Bitstamp exchange, its minimum price reached $69,101.
It’s worth noting that Bitcoin’s price began a rapid decline in late January. On January 31, BTC quotes tested the $84,000 level, and on February 1, they fell to $76,000. Overall, over the past seven days, its price has declined by 19.1%.
As of 12:00 (GMT+1) on February 5, BTC partially recovered to $70,666. The daily decline stands at 7.2%. As usual, the correction affected the entire digital asset market. Over the past 24 hours, the total crypto market capitalization fell by 6.22% to $2.5 trillion. ETH quotes dropped below $2,000, with the asset losing about 28% of its value over the past week. BNB and XRP prices fell by an average of 23% each over the last seven days, while SOL dropped below $100, losing more than 25% over the past week.
Among the possible reasons for Bitcoin’s decline, analysts highlight:
- Strengthening correlation with the stock market. The technology sector also recorded a noticeable decline. South Korea’s KOSPI index lost nearly 4%, the Nikkei 225 fell by 0.9%, Samsung Electronics shares dropped by 5.9%, SK Hynix by 6.7%, and the S&P 500 index by 0.5%.
- Expectations of tighter U.S. monetary policy. Investors are reacting negatively to the prospect of Kevin Warsh being appointed as Chair of the Federal Reserve, as the market views him as a proponent of tight monetary policy and maintaining high interest rates.
- Mass sell-offs by large holders. The government of Bhutan sold BTC worth approximately $26.39 million, of which 184 BTC (~$14 million) were sold on February 4.
The sharp deterioration in market sentiment was also reflected in the Fear and Greed Index, which fell to 12 points, its lowest level since mid-December 2025.
According to CoinGlass, the daily volume of liquidations in futures contracts exceeds $870 million, with more than $709 million coming from long positions. Over the past week, investors withdrew over $2.9 billion in total from crypto exchange-traded funds (ETF). A total of 175,713 traders were forced to close positions.
Bitcoin reached its most recent ATH at the $125,000 level in early October 2025, driven by strong demand from institutional investors.
