Bitcoin price today sits around $71,000–$73,000 after plunging below $70,000 — its lowest level since November 2024. The cryptocurrency has now lost over 43% from its October 2025 all-time high of $126,199, triggering panic selling and questions about whether this is the bottom or if BTC is heading toward $60,000.
Here’s the latest Bitcoin price prediction for February 2026, key factors driving the crash, technical analysis, expert forecasts, and what it means for investors.
Bitcoin Crashes Below $70,000 – Current Market Situation (February 2026)
Bitcoin briefly hit $69,101 on Bitstamp and traded as low as $71,540 on other exchanges during Asian hours on February 5, 2026. The weekend sell-off was brutal: BTC fell from $84,356 to $75,644 in hours, with daily volume spiking to $75 billion.
Year-to-date, Bitcoin is down ~20%. From its 2026 highs, it’s down 26%. This is one of the sharpest corrections of the cycle.
3 Major Factors Pushing Bitcoin Lower Right Now
- US Treasury Rules Out Bitcoin Bailout Treasury Secretary Scott Bessent told Congress the government has no authority to bail out Bitcoin investors or force banks to buy BTC. This removed any hope of a 2008-style rescue and triggered an immediate 3% intraday drop.
- Bhutan Liquidates $22 Million in BTC Reserves The Bhutanese government sold 284.8 BTC (~$22.3M) in two batches (184 BTC on Feb 4 and 100.8 BTC on Jan 30) to market maker QCP Capital. Bhutan still holds ~5,700 BTC worth over $403 million, but nation-state selling adds real pressure during downturns.
- Retail Sentiment Turns Extremely Bearish Santiment data shows a dramatic flip: late January was full of $90K–$99K talk; early February exploded with sub-$60,000 predictions. When retail crowds one side of the trade, Bitcoin often does the opposite — setting up a classic contrarian bounce opportunity.
Technical Analysis: Key Bitcoin Support & Resistance Levels
Immediate Support
- $69,000–$72,000 (current zone being tested)
- $65,000 (next psychological level)
- $58,000 (200-week MA + Galaxy Digital target)
Major Resistance
- $74,000–$75,000 (first overhead)
- $82,000–$84,000 (trend reversal zone)
- $90,000 (50-day EMA, now resistance)
Bearish Signals
- Confirmed inverse cup-and-handle pattern
- Breakdown below 50-day & 200-day EMAs
- Broken ascending trendline from December 2025
- Thin liquidity between $70K–$80K allowing fast drops
Derivatives & ETF Signals
- Binance funding rates in “extreme” short territory
- $800M+ in liquidations over the weekend
- Spot Bitcoin ETFs saw $2.9B net outflows in 12 days (some inflows Monday, then $272M outflows Tuesday)
Expert Bitcoin Price Predictions – February 2026
Bearish Targets
- Alex Thorn (Galaxy Digital): $58,000 (200-week MA)
- Andrew Tu (Efficient Frontier): $68,000 or lower if $72K breaks
- DarkFost: $69K support, $74K resistance
Bullish Contrarian View
- Santiment: Short-term relief rally likely because retail is overcrowded on the bearish side
- On-chain data: New addresses at 2-month high, long-term holders intact, early accumulation signs
Bitcoin Price Scenarios for February 2026
| Scenario | Probability | Target Range | Catalyst | Timeline |
|---|---|---|---|---|
| Base Case (Downside) | 60% | $65,000–$68,000 | ETF outflows + macro weakness | 1–2 weeks |
| Bear Case (Deep Crash) | 25% | $58,000–$60,000 | Break below $68K triggers panic | 2–4 weeks |
| Bull Case (Relief Rally) | 15% | $82,000–$85,000 | Oversold shorts squeezed + macro surprise | Days |
What Should Bitcoin Investors Do Right Now?
Short-term Traders
- Stay cautious until BTC reclaims $82K–$84K
- Watch $69K–$72K closely — break opens door to $60Ks
- Expect high volatility in thin liquidity zones
Long-term Holders
- 40–50% drawdowns are normal in Bitcoin bull markets
- Current levels may be strong accumulation zones
- On-chain metrics still look healthy
Risk Management Tips
- Use dollar-cost averaging (DCA)
- Set stop-losses below $68K if needed
- Keep portfolio diversified
Final Verdict: Bitcoin at a Critical Juncture
Bitcoin is facing a perfect storm — no government bailout, nation-state selling, ETF outflows, and broken technicals. A drop to $60K–$65K remains possible in the short term.
However, extreme bearish retail sentiment and rising new addresses suggest a relief rally could arrive sooner than expected. For a sustainable recovery, BTC must reclaim $82K–$84K and see ETF flows turn positive again.
Bottom line: Short-term pain is likely, but patient investors who weathered previous 40%+ corrections have been rewarded handsomely. February 2026 will decide if this is the cycle bottom or if deeper correction lies ahead.
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