Bitcoin drops below $74,000 as selling pressure intensifies
Although there was hope that the crypto market would receive positive news on Tuesday in the form of a U.S. government shutdown resolution, selling pressure from last week continues to weigh on prices.
On February 3, Bitcoin fell nearly 7%, dropping below $75,000 and briefly approaching the $73,000 level.
The sharp decline was driven by thin liquidity following $2.5 billion in liquidations over the weekend, ongoing selling pressure, and a shift into safe-haven assets.
“The current pullback appears to be part of a broader correction across risk assets — BTC tends to be the most volatile during periods of global financial uncertainty. If the key support level around $73,000 holds, a recovery toward $80,000 and higher is possible in the coming weeks,” said analyst Viktoras Karapetjanc.
The situation remains heavily influenced by macroeconomic news and key economic indicators.
As a result, Bitcoin’s near-term outlook points to potential consolidation in the $70,000–$80,000 range, where technical buyers may return. However, if selling pressure intensifies and Bitcoin breaks below $70,000, another strong downward move toward the $50,000–$56,000 target range becomes possible.
As we wrote, Bitcoin below $80,000: What happened in crypto market
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