Bitcoin Below $70,000 – Market Info

Over the past 14 days, the market has gone through a phase of significant correction. The total market capitalization of the cryptocurrency market during this period fell by as much as -22% and currently stands at $1.92 trillion. Bitcoin itself over the past 14 days dropped from €73,500 to approximately €57,400.

The Fear & Greed Index reached a level of 5 out of 100 – an area of extreme fear. The value of this index fell to the level of June 2022, when the cryptocurrency project Terra (LUNA) collapsed. BTC dominance decreased by one percentage point from 60% to 59%.

Source: Coinmarketcap

Bitcoin Below $70,000

Bitcoin stabilized near the $70,000 level after an extremely turbulent end of last week. During several days, it experienced a significant price rollercoaster, which undermined investor confidence and reopened discussions about its role amid heightened global uncertainty. On Thursday, Bitcoin’s price sharply dropped to approximately $60,000, marking the lowest level since October 2024. However, a rapid rebound followed, with Bitcoin returning above $70,000 already on Friday.

Although the cryptocurrency market managed to recover from the worst losses, investors remain cautious. According to analysts, the situation is currently very unstable, and market volatility is high. The market appears nervous, waiting for a clearer direction for further developments. Bitcoin’s volatility sharply increased during the sell-off – the implied volatility index jumped above 97%, representing the largest intraday increase since the collapse of the FTX exchange in 2022.

Interestingly, this sharp decline occurred despite a relatively favorable environment for cryptocurrencies. The United States currently has a crypto-friendly administration, and institutional adoption of digital assets continues. Nevertheless, Bitcoin did not function as a safe haven during a period of geopolitical tension, raising doubts about its perception as “digital gold.”

On the other hand, there are initial signs of returning optimism. U.S. spot Bitcoin ETFs recorded net capital inflows of more than $200 million at the beginning of February, indicating investors’ attempts to take advantage of the price drop. Analysts also warn that in a lower liquidity environment, significant short-term price fluctuations may continue. Key levels monitored by the market range around $62,000 downward and approximately $76,000 upward. Bitcoin is currently in a waiting phase for the next significant impulse. Source

Bitcoin Mining Experiences Largest Difficulty Drop Since 2021

Following a significant correction, Bitcoin is facing changes in the mining sector. Mining difficulty decreased by approximately 11%, representing the largest drop since China’s crackdown on the crypto industry in 2021. This dramatic decline is due to the sharp fall in Bitcoin prices and outages caused by winter storms in the U.S., which affected energy networks and limited mining operations.

Mining difficulty determines how hard it is to find a new Bitcoin block and is adjusted approximately every two weeks to maintain an average 10-minute block interval. The latest adjustment reduced the metric from over 141.6 trillion to around 125.86 trillion, signaling a sharp decline in the number of active devices securing the network, according to Blockchain.com data.

This development follows a series of challenges for miners. Bitcoin’s price fell from its all-time high of $126,000 in October to around $68,500. Many companies operating older equipment with high energy costs were forced to halt mining. Some operators redirected hardware to artificial intelligence, where offers from large companies may provide more stable and economically favorable conditions.

An example is Bitfarms (BITF), which announced that it is no longer a “Bitcoin” company and is focusing on developing AI data centers and high-performance computing. Mining revenue per unit of hashpower (hashprice) dropped from nearly $70 to around $35.

Seasonal storms, particularly in Texas, worsened the situation. Network operators urged miners to reduce energy consumption to maintain supply for households. Some companies reported a daily production decrease of more than 60%.

However, the reduction in difficulty acts as a self-regulating mechanism – for remaining miners, reduced competition can increase profitability and maintain business model sustainability. Historically, large drops in difficulty often signal a capitulation moment in the market, followed by stabilization or price rebound as miners sell BTC to cover operational costs. Source

Bernstein Calls Bitcoin Sell-Off “Weakest Bear Case,” Maintains $150,000 Target for 2026

According to Bernstein analysts, the recent Bitcoin (BTC) price drop is not caused by structural issues but by reduced investor confidence. The firm maintains its 2026 price target at $150,000 and described the sell-off as the “weakest bear case” in the asset’s history.

Analysts noted that spot Bitcoin ETFs experienced only relatively modest net outflows of 7%, even though BTC fell roughly by half from the all-time high of $126,000 in October 2025 to around $70,000. In their view, this is not a “collapse” but a temporary crisis of confidence: “Nothing broke, no skeletons will show up,” said the team led by Gautam Chhugani.

Bernstein further states that Bitcoin is currently viewed as a liquidity-sensitive asset, not a safe haven. Elevated interest rates and tight financial conditions favored AI-linked stocks and precious metals, limiting Bitcoin’s short-term potential. Analysts also dismissed narratives suggesting that AI diverts capital from crypto or that quantum computers pose an immediate threat to Bitcoin.

Companies like Michael Saylor’s Strategy reportedly rely on long-dated perpetual preferred shares and maintain sufficient cash reserves to pay dividends without short-term refinancing risk. Miners are expected to sell BTC if prices fall below production costs, potentially leading to a temporary capitulation phase.

Nevertheless, Bernstein anticipates Bitcoin returning to new highs as liquidity conditions improve. Firms and institutions view the current pullback as a buying opportunity, although short-term traders remain cautious. Long-term investors see the decline as a chance to enter an asset that remains a key portfolio component and an alternative to traditional investments. Source

Bithumb Successfully Reclaims 99.7% of Overpaid Bitcoin, Covers Remaining Shortfall from Own Funds

South Korean crypto exchange Bithumb resolved an incident in which a system error during a promotional event mistakenly credited some users with excess Bitcoin (BTC). According to a Sunday statement, the exchange immediately reclaimed 99.7% of the overpaid BTC and covered the remaining 0.3%, i.e., 1,788 Bitcoin that had already been sold, from its corporate reserves to ensure full reconciliation with user accounts.

“Bithumb holds all virtual assets, including Bitcoin, at 100% or above relative to user deposits,” the exchange said. Most of the excess Bitcoin was retrieved directly from affected accounts, while the portion sold on the market was replenished from corporate reserves. No customer funds were at risk during the incident, and deposits and withdrawals operated normally.

The exchange also announced a compensation plan. Users connected to the platform during the incident will receive 20,000 KRW (~$15). Those who sold Bitcoin at unfavorable prices will receive full reimbursement plus an additional 10%. Bithumb will also waive trading fees on all markets for seven days starting Monday.

The incident began on Friday when a system error during a promotional event credited some users with unusually large amounts of BTC, briefly causing sharp price swings as recipients started selling the coins. The exchange quickly restricted affected accounts and stabilized trading, preventing broader liquidations.

Bithumb is just one of several centralized exchanges facing operational issues. Similar incidents were reported by Coinbase and Binance, with solutions including technical upgrades and compensations for affected users. Source

BlackRock’s IBIT Hits Record Daily Volume of $10 Billion Amid Bitcoin Crash

BlackRock’s iShares Bitcoin Trust (IBIT) ETF experienced a historic record in daily trading as investors reacted to Bitcoin’s (BTC) sharp price drop. On Thursday, February 5, 2026, trading volume reached $10 billion, marking the highest daily volume in the fund’s history, according to Bloomberg analyst Eric Balchunas.

IBIT’s price fell 13% that day, representing its second-worst daily drop since the fund’s launch. The largest daily decline occurred on May 8, 2024, when it fell 15%. Since Bitcoin’s October peak of approximately $126,000, it lost about half its value, and IBIT has fallen around 48% to $36.10.

According to Bob Elliott, Chief Investment Officer at Unlimited Funds, the average dollar invested in IBIT is currently underwater, with last Friday marking another difficult day for the fund. Bitcoin’s decline is related to weak U.S. labor market data and growing capital inflows into the artificial intelligence sector.

Experienced analysts like Peter Brandt warn that the crisis may not yet be over, noting that Bitcoin shows signs of “systematic selling,” with few buyers stepping in to support the price. The IBIT fund remains sensitive to market volatility and ongoing macroeconomic pressures affecting short-term Bitcoin performance and its ETF.

However, the IBIT daily record demonstrates that investors continue to actively use ETFs as a tool to respond to sharp price movements and seek opportunities in the turbulent cryptocurrency environment. Source

Robert Kiyosaki Prefers BTC Over Gold – Here’s Why

Rich Dad Poor Dad author Robert Kiyosaki once again voiced support for Bitcoin, directly comparing it to investing in gold. According to his latest Twitter statement, he would choose Bitcoin over gold because, while gold is theoretically infinite, Bitcoin is limited, and its supply is strictly defined.

Kiyosaki recommends diversifying capital between gold, Bitcoin, and silver, but if he had to choose a single asset, he would choose BTC. The reason is scarcity: while rising gold prices lead to more mining and thus an increase in the amount of metal in circulation, Bitcoin is limited to 21 million units. Currently, approximately 19.98 million BTC are in circulation, leaving less than 1.1 million units until the cap. Once the limit is reached, no new Bitcoin can be produced, ensuring long-term scarcity and potential value growth.

Kiyosaki added in his comment that he is glad he bought Bitcoin early and continues mining gold and oil.

It is questionable how seriously his words should be taken. In the past, he has made inconsistent statements – for example, in early 2025 he bought Bitcoin above $105,000, but previously stopped buying at $6,000 and later sold those BTC for $2.25 million, using the proceeds to invest in surgical centers and a billboard business.

Nevertheless, Kiyosaki claims he will never sell his Bitcoin and will continue buying. In his latest post, he emphasized that Bitcoin has greater potential than gold, mainly due to its limited supply and clearly defined structure that supports the long-term value of the asset. Source

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