Coinspeaker
13 hour ago
1 0

BEARISH 📉 : Bitcoin drops below $75,000 amid large whale sell-off

Bitcoin's price dropped below $73,000 on February 4 but rebounded following the US Congress passing a $1.2 trillion spending bill, ending the government shutdown.

Bitcoin Price Movements

  • Bitcoin dipped below $75,000, marking its lowest since April 2025 due to previous market turmoil from tariffs.
  • The price has rebounded to $76,400, with $75,000 as a key support level influencing future movements toward $60,000 or $90,000.
  • Santiment data shows whale entities sold over 50,000 BTC in the last two weeks, while retail investors are buying the dip.

Shift to Gold

  • Bitcoin has declined by over $53,000 in the past 120 days, hitting a yearly low of about $73,200.
  • The cryptocurrency market capitalization has lost more than $1.1 trillion during this period.
  • Investor preference has shifted towards gold, which rose by over 30% since October 2025.

Impact of US Government Funding Bill

  • The approval of a $1.2 trillion funding bill by the US Congress could enhance liquidity and investor confidence in crypto markets.
  • A potential crypto market structure bill may progress in Congress within months, possibly reaching the House by May 2026.
  • Crypto firms are showing willingness to compromise on regulatory issues, unlike banks.