Bitcoin drops below $70,000! Returns to November 2024 levels, with all gains from Trump's term wiped out.

2026-02-05 11:45:26

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Bitcoin price once again falls below $70,000, returning to the level on the day of the 2024 U.S. presidential election, erasing the previous rally.
(Background: Arthur Hayes warns of a black swan for Bitcoin: seeing today’s BTC trend looks concerning)
(Additional context: Bitcoin suddenly crashes below $70,200, Plan B’s analysis warns: the worst case could see it drop to $25,000)

On the evening of February 5, Bitcoin broke below the $70,000 threshold, reaching its lowest level since November 6, 2024 (the day of the U.S. presidential election vote count), becoming a key price level watched by the market.

This drop below $70,000 again reminds the market that although Bitcoin has gradually been included in more institutional and asset management products, its price remains highly cyclical and volatile. For funds engaging with leverage and short-term trading strategies, breaking through key levels often triggers a series of technical sell-offs and position adjustments. Please exercise caution.

BTC-8.01%

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