Bitcoin Price Plunge: February 2026 Cryptocurrency Market Analysis

 

Bitcoin Price Plunge: February 2026 Cryptocurrency Market Analysis

Global Bitcoin Search Surge

On February 5, 2026, as Bitcoin prices plummeted, searches for Bitcoin-related terms exploded worldwide. Search volumes by country are as follows:

  • 🇺🇸 United States: 200K+ searches
  • 🇨🇦 Canada: 54K+ searches
  • 🇬🇧 United Kingdom: 51K+ searches
  • 🇫🇷 France: 30K+ searches
  • 🇪🇸 Spain: 23K+ searches
  • 🇮🇳 India: 20K+ searches
  • 🇹🇷 Turkey: 18K+ searches
  • 🇦🇺 Australia: 11K+ searches
  • 🇧🇷 Brazil: 10K+ searches
  • 🇮🇹 Italy: 6K+ searches
  • 🇵🇰 Pakistan: 6K+ searches
  • 🇲🇽 Mexico: 6K+ searches
  • 🇩🇪 Germany: 4K+ searches
  • 🇻🇳 Vietnam: 3K+ searches
  • 🇹🇼 Taiwan: 2K+ searches
  • 🇮🇩 Indonesia: 2K+ searches
  • 🇸🇦 Saudi Arabia: 1K+ searches
  • 🇯🇵 Japan: 1K+ searches
  • 🇰🇷 South Korea: 500+ searches
  • 🇪🇬 Egypt: 300+ searches

Bitcoin Price Crash Overview

As of February 5, 2026, Bitcoin has fallen below $70,000, marking its lowest level since November 2024. Recently, Bitcoin dropped to the $62,000 range, showing a sharp decline of approximately 44-50% from its peak in October.

According to Yahoo Finance, Bitcoin fell 7.07% to $71,126.57, while CNBC reported that Bitcoin dropped to $63,010. This level completely erases all gains made since Donald Trump's presidential election victory.

Key Causes of the Decline

1. Geopolitical Uncertainty and Risk-Off Sentiment

Investors are fleeing from risky assets amid growing geopolitical concerns. President Trump's threats of attacks on Iran, the Venezuela situation, and other international instabilities have deteriorated market sentiment.

2. Collapse of the 'Digital Gold' Narrative

Bitcoin has long been touted as 'digital gold' and considered a safe-haven asset. However, with gold prices rising 24% while Bitcoin has fallen 44%, this claim is facing serious scrutiny.

3. Tech Stock Weakness and Market Volatility

Disappointing earnings reports from Microsoft and other Big Tech companies have negatively impacted the overall market. Bitcoin has traditionally shown high correlation with stocks, particularly tech stocks.

4. Forced Liquidations and Leverage Unwinding

According to CoinGlass data, over $2 billion in Bitcoin long/short positions have been forcibly liquidated since Thursday. Some reports indicate total liquidations exceeded $16 billion.

5. ETF Outflows

In the first week of February 2026 alone, $1.5-2 billion in net redemptions occurred. US exchange-traded funds (ETFs) have taken a net selling position this year, contrasting with the 46,000 Bitcoin they purchased during the same period last year.

6. Treasury Secretary's Comments

Treasury Secretary Scott Bessent stated at a House Financial Services Committee hearing on February 4 that the Treasury lacks authority to stabilize the cryptocurrency market and is not considering a strategic Bitcoin reserve.

Market Outlook

James Butterfill of CoinShares identified $70,000 as a "key psychological level," warning that failure to maintain this level could lead to further declines.

Some analysts forecast Bitcoin could fall to $38,000, exhibiting characteristics of a typical 'crypto winter.'

On the other hand, Rob Hadick of Dragonfly Capital noted that "Bitcoin's decline is not due to a single factor, and cryptocurrency and Bitcoin prices have always been highly volatile." He emphasized that the fundamentals of the crypto market remain strong as stablecoins and tokenized assets continue to gain popularity among retail and institutional investors.

Advice for Investors

Financial experts recommend that investors should not hold more than 5% of their portfolio in cryptocurrencies, as they are a highly volatile asset class.

Barry Glassman of Glassman Wealth Services stated, "If you're bullish on Bitcoin long-term, this decline is a buying opportunity." Bitcoin has previously recovered after falling to $16,360 in November 2022.

Conclusion

The Bitcoin crash in February 2026 results from a complex combination of macroeconomic uncertainty, changing institutional investor sentiment, and technical pressures. Investors need to approach cautiously, understand the inherent volatility of cryptocurrencies, and make investment decisions from a long-term perspective.

References

  • Yahoo Finance: https://finance.yahoo.com/quote/BTC-USD/history/
  • CNBC - Bitcoin Price Today: https://www.cnbc.com/2026/02/05/bitcoin-price-today-70000-in-focus.html
  • CNBC - Bitcoin Below $73,000: https://www.cnbc.com/2026/02/03/bitcoin-price-today.html
  • CNN Business - Bitcoin Under $70,000: https://www.cnn.com/2026/02/05/investing/bitcoin-price
  • Bloomberg - Bitcoin Drops Below $70,000: https://www.bloomberg.com/news/articles/2026-02-05/bitcoin-drops-below-70-000-as-forced-deleveraging-accelerates
  • ABC News - Why Bitcoin Plummeted: https://abcnews.go.com/Business/price-bitcoin-plummeted-experts-explain/story?id=129778940
  • Fortune - Bitcoin Bear Market: https://fortune.com/2026/02/02/why-bitcoin-is-in-a-bear-market/

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