On February 5, 2026, The Kobeissi Letter reported Bitcoin slipped below $66,000 for the first time since October 2024 and soon traded just above $65,000 amid "emotional" selling. Doctor Profit placed buy orders at $57k–$60k and plans to hold for 2–3 months, while XRP dropped nearly 20% in 24 hours to below $1.25.

On February 4, 2026, Arkham flagged two Bitcoin transfers from Druk Holding and Investments to QCP Capital totaling $22.4 million, split into 184.03 BTC ($14.09 million) and 100.82 BTC ($8.31 million). DHI's on-chain assets stand near about $412 million, mostly 5,700 BTC, as the 2024 halving reshaped mining economics. Historical flow data also ties activity to Binance and Celsius Network.

On 5 February 2026, JPMorgan strategist Nikolaos Panigirtzoglou argued that Bitcoin's steep slide of more than 40% from its October high has left it deeply oversold compared with gold, which has risen by about one-third since autumn. The bank says Bitcoin's current price below its estimated $87,000 production cost, combined with ETF outflows and extreme pessimism, could signal capitulation-level stress and a potentially attractive entry point for long-term investors.

At 14:00 UTC, Bitcoin traded at $69,313, down 7.9% on the day, as commentators described a capitulation phase and a transition from distribution to a multi‑month reset. Analysts highlighted key levels near $70,000, the mid‑$70,000s, and $78,000–$80,000, with downside risk toward $55,700–$58,200 amid thin liquidity and risk‑off flows.

On February 5, 2026, Bitcoin fell below $70,000, down nearly 8% intraday to roughly $66,700, while ETH dropped under $2,000 and Solana hit $83. Mike Novogratz told Bloomberg he sees a potential bottom and a $70,000–$100,000 range. In contrast, Michael Burry warned of a "death spiral," and John Deaton alleged futures-driven price suppression.

On Thursday, Bitcoin slipped under $69,000 for the first time since Nov. 6, 2024, as analysts highlighted several classic capitulation signals. Heavy losses from short‑term holders, an "extreme fear" reading on sentiment gauges, and Bitcoin’s most oversold RSI levels since the 2022 bear market all suggested that seller exhaustion and a potential price bottom could be approaching. These conditions have historically preceded both short-term weakness and subsequent rebound phases in the BTC market.

On Thursday, Bitcoin slipped under $70,000, touching $67,619 and registering a 15‑month low as markets re‑priced liquidity risks. According to Cryptonews, about $40 billion in open interest vanished in under 48 hours while traders reacted to Kevin Warsh's prospective leadership at the Federal Reserve. Spot ETF assets also fell below $100 billion in Q1, and gold surpassed $5,100/oz.

On Thursday, Bitcoin extended its sell‑off and briefly traded under $67,000, its lowest level since November 2024. Market analyst Hugo Crypto highlighted Stifel’s report projecting a potential move toward $38,000, while ETF data showed net outflows of about 7,925 BTC for the day and roughly 19,090 BTC over the past week.