Bitcoin Price Falls to 15-Month Low Below 73K

February 5, 2026 Ananya Sharma 0 Comments

Bitcoin price fell sharply to a new 15-month low after breaking below the key $73,000 level, sending shockwaves through the cryptocurrency market and triggering widespread liquidations. The sudden drop erased recent gains and reinforced bearish sentiment among traders, many of whom were positioned for a short-term recovery. Instead, renewed selling pressure pushed Bitcoin into levels not seen since late 2024, raising concerns about further downside.

Bitcoin price chart showing the past one month of trading activity, highlighting a steady decline toward a 15-month low near the 73,000 level

Viewed over the past month, the chart highlights how Bitcoin’s decline was not driven by a single sharp event, but by a series of lower highs and increasingly weak recoveries. Each rebound attempt faded more quickly than the last, signaling reduced risk appetite rather than aggressive selling pressure. This kind of price behavior often reflects traders stepping back rather than rushing to exit, with many waiting for clearer confirmation before committing capital again. The gradual nature of the move underscores how sentiment can erode quietly before support levels finally give way.

Bitcoin Price Drops Below Critical Support

The latest decline in Bitcoin price came after a failed attempt to reclaim higher resistance levels earlier in the week. After briefly trading above $76,000, momentum stalled and sellers quickly regained control. Once Bitcoin slipped below $73,000, stop losses and automated sell orders accelerated the move, leading to a swift breakdown in market structure.

This level had acted as a key support zone in previous sessions, and its loss shifted short-term market sentiment decisively bearish. Traders now view the breakdown as confirmation that recent price action was a temporary relief rally rather than the start of a sustained recovery.

Why Bitcoin Price Is Under Pressure

Failed Bounce Signals Weak Demand

One of the main reasons behind the renewed weakness in Bitcoin price was the inability to hold gains after the recent bounce. Buyers showed limited conviction near resistance, while selling volume increased as prices climbed. This imbalance suggested that demand was not strong enough to absorb selling pressure, leaving the market vulnerable to another downturn.

Technical traders often interpret failed rallies as warning signs, especially during broader downtrends. In this case, the rejection near resistance reinforced expectations of lower prices ahead.

Macro Conditions Weigh on Risk Assets

Bitcoin price weakness also reflected broader market conditions. Traditional financial markets showed signs of stress as equities and commodities pulled back from recent highs. This risk-off environment reduced appetite for speculative assets, including cryptocurrencies.

When macro uncertainty rises, investors often reduce exposure to volatile assets. Bitcoin, despite its growing institutional adoption, continues to trade in close correlation with broader risk sentiment, making it sensitive to shifts in global markets.

Bitcoin Price Decline Triggers Massive Liquidations

As Bitcoin price dropped below $73,000, leveraged positions across the crypto market were rapidly wiped out. More than $800 million in liquidations occurred within a single day, with the majority coming from long positions that were betting on price stability or a rebound.

Liquidations tend to amplify price movements, as forced selling adds additional downward pressure. In this case, cascading liquidations contributed to the sharp speed of the decline, catching many traders off guard.

The scale of liquidations highlights how crowded long positions had become following the recent bounce. Once the market turned, those positions quickly unraveled.

Traders Watch Lower Bitcoin Price Levels

With Bitcoin price setting a new 15-month low, attention has shifted to potential downside targets. Many traders are now monitoring long-term moving averages and historical support zones as possible areas where buying interest could return.

Some market participants are watching the $68,000 region as an important technical level. A failure to stabilize there could expose Bitcoin to deeper declines, while a successful defense might offer temporary relief.

Despite these levels, analysts caution that support zones are not guarantees. In bearish market conditions, price can slice through historical levels faster than expected.

Bitcoin Price Action Turns Market Sentiment Bearish

The latest price action has clearly impacted trader sentiment. Many now describe current conditions as bearish rather than corrective. Lower highs, strong selling volume, and weak bounce attempts all point to sellers maintaining control.

Short-term traders have become more defensive, reducing position sizes or waiting for clearer confirmation before re-entering the market. Volatility remains elevated, making risk management a priority for active participants.

While long-term holders may view lower prices as potential accumulation opportunities, short-term uncertainty continues to dominate market behavior.

Broader Crypto Market Feels the Impact

The drop in Bitcoin price dragged the broader crypto market lower. Major altcoins followed Bitcoin’s decline, with several experiencing sharper percentage losses. This correlation underscores Bitcoin’s role as the market leader, with its movements setting the tone for the entire sector.

Crypto-related stocks and companies with Bitcoin exposure also felt the impact, as declining prices affected valuations and investor confidence. These ripple effects highlight how closely connected the crypto ecosystem has become.

Editor’s View: Why Traders Hesitated to Buy the Dip

What stood out in this move was not just the speed of the drop, but the lack of urgency from buyers once key levels gave way. In past pullbacks, sharp declines often triggered visible dip-buying as traders rushed to defend familiar support. This time, hesitation was clear, suggesting that confidence had already been weakened by prior failed rebounds. When markets stop reacting emotionally and start trading cautiously, it often reflects fatigue rather than panic, a subtle shift that charts alone do not fully capture.

What Comes Next for Bitcoin Price

Looking ahead, Bitcoin price direction will likely depend on a mix of technical recovery and broader market stability. A sustained move back above lost support levels could help restore confidence, but failure to do so may lead to continued downside pressure.

Traders are watching for signs of reduced selling volume, stronger buyer response at support, or improvements in macro sentiment. Until then, caution remains the dominant theme.

In the near term, Bitcoin price is expected to remain volatile as the market digests recent losses. Whether this move marks a deeper correction or a temporary shakeout will become clearer as price reacts to upcoming support zones and broader market conditions.

Disclaimer: This content is for informational purposes only and does not constitute financial advice.

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