Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow

[riversedge]

This discussion thread was locked as off-topic by GP6971 (a host of the Latest Breaking News forum).

Source: www.cnbc.com


Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow
Published Thu, Feb 5 2026 6:43 AM EST Updated 16 Min Ago

Key Points

It’s the first time bitcoin has fallen below $67,000 since November 2024.

Some analysts said $70,000 was the key level to watch and a convincing break below there could lead the token to suffer even greater losses.

The latest downturn comes as investor confidence in bitcoin’s utility as a store of value, inflation hedge and digital currency falters.

“If we fail to hold it, a move toward” the $60,000 to $65,000 range “becomes quite likely,” said James Butterfill, head of research at Coinshares.

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The cryptocurrency broke below $70,000 earlier in the session Thursday and then the selling increased, bringing the asset closer in line with its pre-election level. The cryptocurrency is down 20% this week alone.



Read more: https://www.cnbc.com/2026/02/05/bitcoin-price-today-70000-in-focus.html

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Bitcoin Falls Below K, Wiping Out Gains Since Trump’s Win | Bloomberg...

youtu.be/v1c9fSscRGQ?... via @YouTube

— (@oceancalm.bsky.social) 2026-02-05T21:59:22.777Z

[bucolic_frolic]

1. Critical stage tomorrow

First close below support - $67k - can be viewed as an overshoot IF it regains $67k tomorrow. My bet is that will likely be the case, but we're in virgin territory. To the general public crypto is still an unknown.

[walkingman]

2. Good - the sooner it goes away the better.

[riversedge]

3. Why has the price of bitcoin plummeted? Experts explain

Bitcoin plunges to lowest level since October 2024

finance.yahoo.com/news/bitcoin...

— (@oceancalm.bsky.social) 2026-02-05T22:03:43.386Z

https://finance.yahoo.com/news/bitcoin-plunges-lowest-level-since-213013945.html?fr=yhssrp_catchall
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Why has the price of bitcoin plummeted? Experts explain

The decline of bitcoin deepened a days-long stretch of sharp losses stretching back to last week.

Ethereum, the second-largest cryptocurrency, also extended recent losses, shedding about 10% of its value on Thursday. Solana, another popular crypto coin, saw its price dip 11%.

Experts who previously spoke to ABC News attributed the recent decline in crypto prices to looming geopolitical and economic uncertainty, which has prompted a momentum-driven selloff as crypto holders raced to the exits. The initial drop likely forced some leveraged buyers to sell off their positions, intensifying the downward pressure, they added.

The labor market has slowed in recent months, while inflation has hovered above the Federal Reserve's target rate of 2%.

[Wicked Blue]

4. Posted this morning

https://democraticunderground.com/10143611851

[LiberalArkie]

5. Digital Currency Modernization Act

The Digital Currency Modernization Act was signed into law Monday morning. It takes effect this Saturday at midnight. And when you wake up Sunday, the America of financial privacy will be gone.

The new law drops the cash transaction reporting threshold from $10,000 to $600. That means virtually any significant cash purchase—a car repair, a medical bill, a piece of furniture—now triggers a federal report with your name, address, and identification.

[surfered]

6. Tulip prices collapse...

[ret5hd]

7. my doubts didn't grow. remained at zero.

[Progressive dog]

8. Zero is it's real value

Anything higher is overpricing. I just hope the people who thought up this scam are the ones who lose the most.

[moniss]

9. Imagine that.

A made up nothing losing it's value. There's an ironic yet fitting statement on today's society.

[BootinUp]

10. I'm waiting for someone to say it's a great buy opportunity. Nt

[Prairie Gates]

12. The BuytheDippers are swarming

[William Seger]

15. One reason to avoid crypto is that this could be market manipulation (nt)

[cab67]

11. how did crypto ever become a thing in the first place?

[cstanleytech]

13. I wonder if it will implode completely especially since no government provides it with coverage for losses.

[William Seger]

14. Never a doubt in my mind that crypto is just gambling (nt)

[GP6971]

16. Locking. Dupe of https://democraticunderground.com/10143611851