#Bitcoin BTC Price News & Insights Today 7-2-2026 - Technical analysis of #BTC, on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin (BTC) is trading at approximately $68,346.20 as of February 7, 2026. The market is currently experiencing significant volatility following a "violent" sell-off earlier in the week that saw prices crash to a 15-month low of roughly $60,074. Although Bitcoin briefly retook the $70,000 level on Friday, it has since slipped back as traders digest a broader market rout that erased all gains made since the November 2024 U.S. election.
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Bitcoin Insights Today
-Violent Drawdown: On Thursday, February 5, Bitcoin suffered a 15% daily plunge, its worst single-day drop since the 2022 FTX collapse.
-Waning "Trump Rally": Despite the administration's pro-crypto stance, including the creation of a national Bitcoin stockpile by executive order, the lack of immediate government buying has led to a "sell at any price" mentality among some investors.
-Institutional Shift: Analysts at CryptoQuant report that institutional demand has reversed, with U.S. spot Bitcoin ETFs becoming net sellers in 2026 after massive inflows in 2025.
-Technical Fragility: Bitcoin is currently trading below its 200-day EMA (~$97,500) and 365-day moving average, signaling a potential shift into a prolonged "crypto winter".
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