Bitcoin extended its decline, briefly trading near the low $75,000 area before stabilizing. According to market feeds, order books show thicker buy interest clustered from about $71,500 down toward $64,000, and liquidations in the millions have amplified the slide. Joe Burnett said a roughly 45% drawdown would still align with historical norms amid wider risk-off pressure.

On 4 February, Bitcoin slid under $72,000, extending its recent downtrend and reaching a new local low amid selling in spot and derivatives markets. The price briefly touched an intraday low near $71,700 and was last seen around $71,800, down about 5% on the day, as weak U.S. spot demand and over $235 million in liquidations, mostly from longs, weighed on the market. Technical focus has now shifted to the $70,000 area as a key psychological level, with $75,000–$78,000 viewed as the first zone to reclaim for any sign of stabilization.

On 5 February 2026, Bitcoin slid below the $72,000 mark before quickly bouncing back above $73,000, after a wave of selling and liquidations hit the market. The asset remains down nearly 20% over the past week, with sentiment stuck in extreme fear as analysts debate whether technical exhaustion or macro-driven risks will dominate next. Altcoins such as Ethereum, Solana, and XRP continue to underperform, while institutions warn that tight monetary policy, weak liquidity, and ETF outflows could still weigh on prices.

On Wednesday, Bitcoin fell below $73,000 after failing to hold the prior retest of $79,500, while U.S.-listed spot Bitcoin ETFs have logged more than $2.9 billion in cumulative outflows over the last 12 trading sessions. Options data, large futures liquidations and the crypto market’s tight correlation with sliding tech stocks indicate that many traders are cutting exposure and remain unconvinced that the recent low around $72,100 marks a durable bottom.

On February 4, 2026, Stacks announced an integration with Fireblocks that will let the platform's 2,400+ institutional clients deploy BTC into Bitcoin-native DeFi on Stacks. According to the announcement, Fireblocks secures more than $5 trillion in annual digital asset transfers, and the integration will use enterprise-grade infrastructure for custody, settlement, trading, and payments.

Bitcoin's on-chain gauges point to rising strain as liquidity narrows. The 90-day Realized Profit/Loss ratio is near ~1.5, the MVRV Z-Score is at its lowest since October 2022, and the NVT Golden Cross sits at -1.4357. Exchange reserves hover around $210.26 billion (-2.67%), while spot netflows show daily outflows near $45.7 million.

Gold is quoted at $4,906/oz with macro desks continuing to pay for convexity in the traditional hedge, while Bitcoin changes hands at $72,639 after previously rebounding to $78,376. World Gold Council data for 2025 highlight 801 tonnes of global gold ETF inflows and a strong 420-tonne Q4 bar-and-coin demand, while CoinMarketCap shows BTC still about 40% under its $126,198 all-time high. Positioning shifts, rising margins on Comex metals and differing allocation mechanics help explain why gold is absorbing flows even as Bitcoin trades more like a high-beta liquidity asset.

As of February 4, 2026, Bitcoin trades near $73,350, down over 1.50% in 24 hours, with weekly signals showing a "Three Black Crows" pattern and RSI around 30. Key levels include the 200‑week EMA near $68,400 and resistance at $83,598. Market tone is shaped by AI‑driven sector rotation, while RWA and Bitcoin DeFi efforts advance via Mercado Bitcoin and Fireblocks.