{"id":93979,"date":"2026-02-05T16:41:34","date_gmt":"2026-02-05T13:41:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93979"},"modified":"2026-02-05T16:45:26","modified_gmt":"2026-02-05T13:45:26","slug":"bitcoin-falls-below-70000-for-the-first-time-since-2024","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-falls-below-70000-for-the-first-time-since-2024\/","title":{"rendered":"Bitcoin Falls Below $70,000 for the First Time Since 2024"},"content":{"rendered":"<p>On February 5, the price of the leading cryptocurrency dropped below $70,000. Such low levels have not been seen since November 2024.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"658\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-c168ea9639129225-5514960661760996-1024x658.png\" alt=\"BTCUSDT_2026-02-05_15-54-21\" class=\"wp-image-274683\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-c168ea9639129225-5514960661760996-1024x658.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/img-c168ea9639129225-5514960661760996-300x193.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/img-c168ea9639129225-5514960661760996-768x493.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/img-c168ea9639129225-5514960661760996.png 1429w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart from Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingVIew<\/a>.<\/figcaption><\/figure>\n<p>At one point, the price fell to $69,185, marking a decline of about 45% from the October peak.<\/p>\n<p>The daily liquidation volume in the derivatives market reached $1.07 billion, with $905 million in long positions.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"302\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-45a508ff63df5206-5514983854867604-1024x302.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-05 160808\" class=\"wp-image-274684\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-45a508ff63df5206-5514983854867604-1024x302.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/img-45a508ff63df5206-5514983854867604-300x89.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/img-45a508ff63df5206-5514983854867604-768x227.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/img-45a508ff63df5206-5514983854867604.png 1369w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coinglass.com\/liquidations\">CoinGlass<\/a>.<\/figcaption><\/figure>\n<p>Joel Kruger, a strategist at LMAX Group, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-05\/bitcoin-drops-below-70-000-as-forced-deleveraging-accelerates\">noted<\/a> signs of investor capitulation. According to him, technical indicators point to deep overselling, and the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">crypto fear and greed index<\/a> has reached extreme lows.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-702fe33056f92f65-5515039452545002.webp\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-05 161022\" class=\"wp-image-274687\"\/><figcaption class=\"wp-element-caption\">Crypto fear and greed index. Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative<\/a>.<\/figcaption><\/figure>\n<p>According to Glassnode, Bitcoin&#8217;s capitulation metric recorded the second-largest spike in two years.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-5b054637e1e13dff-5515071484508428.webp\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-05 163617\" class=\"wp-image-274688\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/t.me\/glassnode\/1523\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>The market has experienced a &#8220;demand vacuum&#8221;: trading volumes are falling, capital inflows have dried up, and investors are locking in losses.<\/p>\n<p>Bob Kendall, author of The Kendall Report, believes that the scarcity of digital gold is being diluted by &#8220;synthetic supply&#8221; through <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETFs<\/a> and futures.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">So here\u2019s the issue you get influencers like this guy have a quarter million followers and they claim they don\u2019t know why it is declining\u2026 it\u2019s because they don\u2019t understand basic mechanics of price discovery. <\/p>\n<p>They don\u2019t understand that the marginal buyers or the float\u2026 <a href=\"https:\/\/t.co\/6oP1WpN65c\">https:\/\/t.co\/6oP1WpN65c<\/a><\/p>\n<p>\u2014 Bob Kendall (The Kendall Report) (@PortfolioXpert) <a href=\"https:\/\/twitter.com\/PortfolioXpert\/status\/2019180840958529601?ref_src=twsrc%5Etfw\">February 4, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;When supply can be artificially created, the asset ceases to be rare. The price becomes a game of derivatives, not a balance of supply and demand. This is what happened with Bitcoin,&#8221; he wrote.<\/em><\/p>\n<\/blockquote>\n<p>Analysts at Stifel <a href=\"https:\/\/www.coindesk.com\/markets\/2026\/02\/05\/stifel-predicts-bitcoin-crash-to-usd38-000-yes-you-read-it-right\">suggested<\/a> a drop to $38,000 due to the high correlation of cryptocurrencies with the declining US tech sector.<\/p>\n<p>Assets in the top 10 by market capitalization are in the &#8220;red zone.&#8221;<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"480\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039-1024x480.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-05 161450\" class=\"wp-image-274689\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039-1024x480.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039-768x360.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039-1536x721.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/img-d1258d012f4bb99d-5515133663755039.png 1603w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Earlier, on February 3, K33 Research analyst Vetle Lunde <a href=\"https:\/\/u1f987.com\/en\/news\/k33-dismisses-80-bitcoin-decline-from-peak\">ruled out<\/a> an 80% drop in Bitcoin from its peak.<\/p>\n<p>Later, technical analyst Peter Brandt <a href=\"https:\/\/u1f987.com\/en\/news\/peter-brandt-says-bitcoins-slide-is-a-planned-campaign-by-big-players\">described<\/a> the decline of the leading cryptocurrency as a planned campaign by major players.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 5, the price of the leading cryptocurrency dropped below $70,000. Such low levels have not been seen since November 2024.<\/p>\n","protected":false},"author":1,"featured_media":93980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin's price fell below $70,000, a first since November 2024.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-93979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"182","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin's price fell below $70,000, a first since November 2024.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/93979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=93979"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/93979\/revisions"}],"predecessor-version":[{"id":93981,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/93979\/revisions\/93981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/93980"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=93979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=93979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=93979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}