In this video: Let's talk about Bitcoin and the current crash. Video by Benjamin Cowen.
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As of February 5, 2026, the Bitcoin crash has intensified, with the price plummeting below the $71,000 support level. This latest drop extends a brutal correction that has seen Bitcoin fall approximately 40% from its all-time high of $126,000 reached in October 2025. The market is currently characterized by "Extreme Fear," with a Fear & Greed Index score of 14.
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Bitcoin Insights
-Price Action: Bitcoin is currently trading near $70,800 - $71,200, down over 5% in the last 24 hours and nearly 15% over the past week.
-Technical Outlook: Analysts have officially labeled this a technical bear market. Short-term support is being watched near $70,000, with some on-chain data suggesting a potential bottom might not be found until the $50,000–$60,000 range later in 2026.
-Liquidations: Over $730 million in leveraged positions were wiped out in the last 24 hours alone as forced liquidations accelerated the downward spiral.
Key Drivers of the 2026 Crash
-Macroeconomic & Geopolitical Shocks: Renewed tariff escalation rhetoric from the U.S. administration, including threats of 10% to 25% tariffs on European and Chinese imports, has triggered a global "risk-off" sentiment.
-Tech & AI Rout: A broader sell-off in the technology sector, driven by fears that AI investment has peaked, has seen the Nasdaq 100 drop significantly, pulling Bitcoin down due to its high correlation with tech stocks.
-Institutional Outflows: U.S. spot Bitcoin ETFs have faced continuous outflows, totaling roughly $1.7 billion in a single week, indicating a major withdrawal of institutional capital.
-Monetary Policy Uncertainty: Uncertainty regarding the Federal Reserve's path on interest rates, particularly following new leadership nominations, has led investors to favor the U.S. Dollar and Gold over speculative assets like crypto.
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