Bitcoin Drops Below $63,000 Amid Market Selloff

• Lyla Velez
• February 5, 2026
• News
• 0 Comments

Analysts express concern over Bitcoin’s 50% drop from its 2025 peak, potentially heralding a lengthy market downturn.

The price drop represents a significant move, with over $1.1 billion in forced liquidations primarily in long positions. This situation is reminiscent of the FTX-era crash, which saw similar market disruptions. Minimal public commentary from top industry figures highlights a notable absence of leadership statements amid the downturn. While no direct statements were noted from key industry leaders, analysts expressed concerns about Bitcoin falling back to the $63,000 major support level.

“With the fast-paced acceleration, Bitcoin is now dropping back to the $63,000 Major Support (which extends to $60,000), key level which served as the basis of the 2024 breakout.” — Elior Manier, Market Analyst, source

Markets responded with significant volatility, affecting assets like Ethereum and Solana, pointing to a broader industry unease. Companies connected to the crypto market, such as Riot Platforms and Coinbase, experienced significant stock declines. Institutions like BlackRock’s iShares Bitcoin Trust view tweet witnessed a major trading surge, reflecting continued investor engagement amid price declines.

Comparisons are drawn with the 2021 tech/crypto collapse, offering a perspective on potential recovery timelines. This latest occurrence underscores the volatility that persists in cryptocurrency markets, with possible deeper financial influence on both investors and institutions. Analysts suggest continued caution as markets remain susceptible to further declines.