tech
February 2, 2026
Bitcoin is coming off a brutal week. Here's what's happening
Cryptocurrency markets fell as global equities and precious metals sold off, while bitcoin liquidations exacerbated downside moves.
TL;DR
- Bitcoin traded slightly higher at $78,233.92 on Monday, recovering from a drop below $80,000.
- The cryptocurrency has fallen about 12% in the last seven days, losing over $200 billion in value.
- The drawdown coincided with a broader risk-off shift in global markets and was amplified by thin weekend liquidity.
- Bitcoin's fall was worsened by over $2 billion in forced liquidations of long and short positions since Thursday.
- Digital asset investment products saw $1.7 billion in outflows last week, signaling deteriorating investor sentiment.
- Analysts suggest a potential short-term bottom for Bitcoin around $70,000, while others predict a fall to $40,000 this year.
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