Bitcoin is showing signs of entering a renewed bear market phase, according to CryptoQuant's latest weekly report, with its Bull Score Index dropping from 80 to zero after an October 10 liquidation event while BTC trades near $75,000. The firm highlights net selling of around 10,600 BTC by U.S. spot ETFs, a 56,000 BTC demand gap versus 2025, USDT market cap contraction of $133 million, and a breakdown below the 365-day moving average as factors that increase downside risk toward the $70,000–$60,000 area.

A long-running crypto market host highlights a new remark from major Bitcoin holder Michael Saylor as a fresh warning signal while BTC trades around the low $70,000s. The analyst reiterates roughly $72,000 as his key accumulation area, contrasts Bitcoin’s muted action with a sharp gold rally and weaker stocks, and argues that growing U.S. political engagement with crypto supports Bitcoin’s long-term case despite short-term anxiety.

On February 4, 2026, EGRAG CRYPTO argued that Bitcoin's four‑year rhythm remains intact when assessed on yearly candles, with confirmation hinging on the annual close. According to CoinGecko, BTC traded at $75,346.58, down 3.3% day over day, 15.9% week over week, and 19.5% month over month.

On February 4, 2026, Bitcoin hovered near its weakest levels since Trump's election win, falling 15% in a week and nearly 20% over a month. Key figures including Bitget's Gracy Chen and Binance's CZ highlighted downside risks, while the Fear & Greed Index hit 17; SoSoValue reported Bitcoin ETF assets below $100 billion with notable fund outflows.

Wall Street investors added $562 million to spot Bitcoin ETFs in one day as Bitcoin traded around $76,275, down nearly 3% over the past 24 hours. Ethereum and XRP products posted net outflows, while analysts are watching support near $74,420–$74,666 and resistance around $84,000.

On 2 February 2026, Tether introduced MiningOS, an open-source operating system tailored for Bitcoin mining and licensed under Apache 2.0. The platform, presented at the 2026 Plan ₿ forum in El Salvador, aims to replace proprietary mining tools, with a community-driven Mining SDK planned for future release.

According to on-chain analyst Ali Martinez, Bitcoin's sharp swings between late January and early February 2026 have put the asset at risk of a 25% drop unless it climbs back above a key zone around $80,000. With BTC trading near $75,985 after rebounding from lows close to $73,000 on February 3, it remains below both the ETF cost basis of $82,600 and the 100-week SMA at $87,500, levels Martinez links to potential downside toward $57,000 and even $50,000 by March or April. He further projects the decline could extend to a possible cycle low around $38,000 in October if ETF inflows fail to improve.

Bitcoin's RSI has slipped below 30 while price approaches the $73,000–$75,000 support band. According to the analysis, oversold readings can precede short-term rebounds, but they may also lead to consolidation or further weakness. Past references place this zone at a rally peak in early 2024 and a pullback low in April 2025.