Trading

Bitcoin extended its slide to a $60,500 low after failing to hold above $72,000, dropping over 10%. It now trades below $68,000 and the 100 hourly simple moving average, with resistance at $66,000 and $67,200. A failure below $62,500 and $61,200 could send price back to $60,500 and the $60,000 support.

Zcash traded around $245 after losing the $300 support level, with price action drifting toward the $240–$244 area that now forms a key short-term floor. If this zone fails to hold, the next potential downside region sits in the $200–$210 band, while any rebound faces resistance between $260 and $280 and a major hurdle at $300.

On Thursday, BlackRock's iShares Bitcoin Trust (IBIT) set a $10 billion daily trading record as Bitcoin fell 12% in the past 24 hours. The ETF dropped 13%, its second-worst day since launch, and saw $373.4 million in net outflows on Wednesday. Bitcoin traded near $64,000 after an intraday low of $60,300.

On February 6, 2026, reports said Binance and Bybit temporarily paused withdrawals during a sharp market sell-off. Bitcoin fell over 13% to below $64,000, and a Binance outage earlier in the week lasted about 20 minutes before services were restored. Binance emphasized liquidity strength as He Yi and Changpeng Zhao addressed social media-driven withdrawal calls.

Heading into early February 2026, Midnight (NIGHT), Hyperliquid (HYPE), and Monero (XMR) are bucking weak altcoin sentiment with accumulation and catalyst-led strength. Midnight's Q1 2026 'Kūkolu' phase was outlined in a January update, while HYPE's CMF turned positive and open interest climbed to $793M around Jan. 26–27. Monero's MFI points to fading sell pressure near $305 after an 11-day, 30% drop.

Crypto market sentiment slid to extreme fear as the Fear and Greed Index printed 11. On 4 February, U.S.-listed Bitcoin ETFs saw about $545m in net withdrawals, while Ethereum funds lost around $79m. Rising volatility and weak price action reinforced a risk-off tone across majors and altcoins.

In November 2021, Bitcoin set an all-time high near $69,000. On February 5, 2026, according to CoinMarketCap, BTC slid toward the low $60,000s and erased those gains as more than $1.5 billion in crypto positions were liquidated in 24 hours. The decline followed a leverage unwind, shifting focus to spot demand and the $60,000 area.

According to Cointelegraph, Bitcoin slipped below $63,000 on Thursday, marking its lowest level since November 2024 after a 30% retreat from a failed $90,500 push on Jan. 28. Deribit pricing shows March 27 $90,000 calls near $522, implying roughly 6% odds of a rebound, while $50,000 puts around $1,380 suggest about a 20% chance of deeper losses.

On February 5, 2026, World Liberty Finance sold 73 WBTC for $5.04 million in USDC, with Lookonchain citing a $69,000 unit price. Arkham data shows the sale occurred in two batches worth $2.77 million and about $2.28 million. Lawmakers also questioned WLFI's ownership and UAE ties at a House Financial Services Committee hearing.

A large Aave loan backed by roughly 355,093 AAVE — about 2.3% of supply — began cascading liquidations on Thursday during a market pullback. Roughly $2 million of collateral was seized across four transactions to repay nearly $2 million in USDC, after AAVE dipped near $104–$103; it later traded around $105.60, down 15% on the day.