economy
February 4, 2026
Bitcoin bleeds for second straight day, nearly grazes $72,000
Bitcoin sank as low as $72,096.20 on Wednesday, marking its second consecutive day breaking below the $73,000 level.
TL;DR
- Bitcoin dropped to as low as $72,096.20, over 5% down on the day.
- The cryptocurrency is more than 40% below its October record high of approximately $126,000.
- Analysts are watching the $70,000 level as a key support as the downturn continues.
- Factors contributing to the decline include geopolitical tensions (U.S.-Europe relations), economic challenges, and expectations of a U.S. monetary policy shift.
- Investors are rotating out of risk-on assets, impacting Bitcoin's value.
- Spot bitcoin ETFs have seen substantial outflows totaling over $3 billion in January, $2 billion in December, and $7 billion in November.
- Crypto stocks like Strategy, Riot Platforms, and MARA Holdings also experienced significant drops.
- Thinning liquidity due to expectations of a deeper correction has hurt Bitcoin's price.
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