Overview
- Bitcoin briefly fell to about $69,821 on Feb. 5, its lowest level since November 2024, and is down more than 20% since late January.
- U.S. spot Bitcoin ETFs have posted significant net outflows in recent sessions, reversing a key source of institutional demand from 2025 and pressuring price.
- CryptoQuant’s Bull Score dropped to zero as spot volumes stayed muted and the Coinbase price discount persisted, pointing to contracting participation rather than panic selling.
- Tether’s USDT market capitalization declined for the first time since 2023, indicating softer stablecoin-driven liquidity entering the crypto market.
- Analysts highlight support near $70,000–$75,000 with risk toward roughly $60,000 if that zone fails, while risk appetite is constrained by weak tech markets, limited Fed easing prospects, and stalled U.S. crypto legislation.