Stifel Sees Bitcoin Risking Drop to $38,000 as Liquidity Tightens and Bears Dominate

On 5 February 2026, investment bank Stifel warned that Bitcoin could retreat toward $38,000 if past market cycles play out under tightening liquidity and restrictive monetary policy. As Bitcoin trades just above $72,000, Michael Burry argues it is behaving like a speculative asset, with further declines potentially triggering forced selling and broader stress across the crypto market.