Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow [View all]
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Source: www.cnbc.com
Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow
Published Thu, Feb 5 2026 6:43 AM EST Updated 16 Min Ago
Key Points
It’s the first time bitcoin has fallen below $67,000 since November 2024.
Some analysts said $70,000 was the key level to watch and a convincing break below there could lead the token to suffer even greater losses.
The latest downturn comes as investor confidence in bitcoin’s utility as a store of value, inflation hedge and digital currency falters.
“If we fail to hold it, a move toward” the $60,000 to $65,000 range “becomes quite likely,” said James Butterfill, head of research at Coinshares.
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The cryptocurrency broke below $70,000 earlier in the session Thursday and then the selling increased, bringing the asset closer in line with its pre-election level. The cryptocurrency is down 20% this week alone.
Read more: https://www.cnbc.com/2026/02/05/bitcoin-price-today-70000-in-focus.html
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