February 5 News: The cryptocurrency market continues to come under pressure. Bitcoin’s price fell below the $70,000 mark on Wednesday, hitting a new low since Donald Trump was elected President of the United States. Over the past 24 hours, major altcoins including Ethereum (ETH), BNB, Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) all declined by 6% to 10%, with market panic significantly intensifying.
According to Coinglass data, over the past day, the global crypto market liquidations exceeded $800 million, with 165,000 traders facing liquidations. The largest single liquidation on the Hyperliquid platform reached $11.36 million. Options trading for Bitcoin and Ethereum shows increased downside risk, with the 25 delta skew decreasing, indicating the potential continuation of a short-term bear market. Glassnode data shows that the three-day moving average of net realized profit and loss decreased by $317 million daily for the first time since 2022, indicating reduced liquidity and market pressure.
Technical analysis also indicates further downside risk. Bitcoin broke below the 365-day moving average since 2022, potentially dropping to the $60,000 to $70,000 range. Well-known analysts Peter Brandt and Michael Burry warned that Bitcoin prices could further decline to $58,000, with a sharp drop potentially impacting Bitcoin trading firms, precious metals markets, and the overall financial market. Strategy’s Bitcoin holdings face approximately $4 billion in unrealized losses, and MSTR stock closed down 3.13% at $129.09.
Institutional demand is weakening, with spot Bitcoin ETFs experiencing continued outflows. BlackRock sold approximately $373.8 million worth of Bitcoin. Market sentiment shows the crypto fear and greed index has fallen to extreme fear territory, with investor caution running high. Analyst Michael van de Poppe pointed out that the Bitcoin/S&P 500 weekly RSI has hit a historic low, while Ali Martinez warned that if Bitcoin drops below $77,086, the next key support levels are at $60,176 and $47,824.
Overall, the decline in Bitcoin and mainstream altcoins reflects structural weakness in the market. In the short term, clear bear signals are evident, and investors should pay attention to leverage liquidation risks and the flow of funds in spot ETFs.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Exodus CEO: Retail investors at a nine-year low, institutions quietly enjoy the crypto bull market
Exodus CEO JP Richardson said that in 2026 the crypto market will see an unprecedented structural shift, with institutional investors moving in rapidly, while retail investors are absent at scale due to a cost-of-living crisis. Data shows retail activity has fallen to a nine-year low, and some funds are flowing to traditional markets. While sentiment is fragile in the short term, the outlook for the mid term is still viewed positively.
MarketWhisper27m ago
European Central Bank backs ESMA with centralized oversight of crypto regulation, and bearish signals for Bitcoin emerge
The European Central Bank has officially supported transferring regulatory authority over crypto-asset service providers to the European Securities and Markets Authority, marking an important step in the process of consolidating crypto oversight. This change is intended to unify regulatory standards, reduce fragmentation issues, and strengthen compliance requirements, but it is expected to increase the compliance burden for small and medium-sized businesses. The market reacted negatively, and confidence in Bitcoin’s price outlook declined.
MarketWhisper31m ago
Hormuz Strait is interrupted again: U.S. forces’ formal blockade goes into effect, with crude oil surging nearly 10% intraday
The U.S. Navy began blockading the Strait of Hormuz starting April 13, U.S. Eastern Time, with all passage halted. Crude oil prices jumped nearly 10% in a single day, while Bitcoin fell 1.2% over the past 24 hours.
GateInstantTrends44m ago
Tom Lee says US stocks may have already hit bottom, and Bitmine is supporting the New York Stock Exchange main board listing with a 4 billion yuan backstop
Bitmine rose to the NYSE main board on April 13 and increased its share repurchase authorization from $1 billion to $4 billion to support its stock price. Chairman Tom Lee said that U.S. stocks may have already bottomed out because the Iran-Iraq ceasefire agreement eased geopolitical risks and because the fundamentals of ether (ETH) have improved. Bitmine holds about 4.8 million ETH, and each 1% increase brings roughly $100 million in asset appreciation.
MarketWhisper1h ago
Morpho Borrowers Paid $170M Interest. Aave Made More.
_Morpho borrowers paid $170M in interest over one year, Token Terminal data shows, outpacing Aave’s $140M revenue against a comparable $1.5B valuation._
DeFi lending is moving fast. And one protocol nobody was talking about two years ago just posted numbers that are turning heads across the
LiveBTCNews2h ago
BSC Chinese meme coins surge across the board, as CZ’s tweet sparks a “Crypto Summer” craze
On April 13, Chinese meme coins across the BSC chain rose across the board, led by “Binance Life,” with a weekly gain of up to 360% and an intraday increase of over 45%. CZ’s post sparked resonance with “Crypto Summer,” energizing sentiment across the entire sector. Although market sentiment has surged in the short term, the high volatility and liquidity risks of meme coins cannot be ignored, and investors need to be cautious.
MarketWhisper4h ago
