Published: February 6, 2026
Bitcoin price today crashed to a low of $60,008.52 during Friday trading (February 6, 2026), marking its weakest level in roughly 15 months and capping a brutal weekly decline of more than 15% from the previous week’s close.
The move triggered widespread volatility across the entire digital asset market: total crypto market capitalization shed hundreds of billions, futures liquidations surged above $659 million in 24 hours (Bitcoin longs accounting for ~$234 million), and risk-off sentiment spilled over from global tech stocks — especially the Nasdaq, which posted its largest single-day point drop since the 2022 bear market lows.
Despite the severity, Bitcoin staged a partial rebound late in the session, recovering back above $76,000 in some intraday prints before settling in the mid-70,000s. Below is a complete breakdown of what happened, why it happened, technical levels to watch, liquidation & sentiment data, and realistic scenarios for the near-term path.
Bitcoin Drops to 15-Month Low – Price Action Timeline
| Time (UTC – Feb 6) | BTC Price Range | Change | Key Trigger / Volume Note |
|---|---|---|---|
| 00:00–06:00 Asia | $78,900 → $76,200 | –3.4% | Weekend carry-over + thin liquidity |
| 06:00–12:00 Asia/US overlap | $76,200 → $72,800 | –4.5% | Tech stock sell-off spillover begins |
| 12:00–18:00 US session | $72,800 → $60,008 (low) | –17.5% | Liquidation cascade + algorithmic selling |
| 18:00–close | $60,008 → $76,328 | +27.2% from low | Dip-buyers defend, short covering |
The $60,008 print was the lowest since late 2024 and triggered the most violent intraday liquidation spike of the year so far.
Over $659 Million in Crypto Liquidations – Leverage Purge Accelerates
Coinglass and major exchange data show total crypto futures liquidations reached approximately $659 million over the 24-hour period ending late Friday, with Bitcoin accounting for roughly $234 million (predominantly long-side positions).
This was a classic cascade event:
- Initial selling pressure from tech stock correlation broke key supports
- Stop orders and margin calls were hit → forced liquidations
- More selling pressure from the liquidations → more stops triggered
- Thin weekend/early-week liquidity amplified the move
Open interest on BTC perpetual contracts dropped sharply before partial recovery — a sign that meaningful deleveraging has occurred, which is often a necessary (though painful) precursor to local bottoms.
What Is Driving the Latest Bitcoin Sell-Off?
The plunge below $80,000 and subsequent flash-crash to $60,008 was the result of several reinforcing factors:
- Heavy correlation to tech stocks / Nasdaq weakness
The Nasdaq posted its largest single-day point drop since the 2022 bear market lows — driven by rotation out of growth names, profit-taking after multi-year highs, and renewed macro caution. - Macro liquidity squeeze & Fed policy
Continued “higher-for-longer” messaging (no rush to cut from 3.50–3.75%) kept real yields elevated and risk appetite suppressed. - Persistent spot Bitcoin ETF outflows
Cumulative redemptions since mid-January have exceeded several billion dollars, steadily removing the consistent spot bid that had previously anchored price. - Leverage flush & liquidation cascade
Over **$659 million** liquidated in 24 hours — predominantly long positions from late-cycle euphoria. - Technical breakdown
Loss of the **$84,000–$85,000** cluster triggered algorithmic selling, stop cascades, and capitulation.
Market Sentiment & Outlook
Sentiment has turned extremely bearish:
- Fear & Greed Index: ~18–23 (Extreme Fear)
- Social volume: bearish keywords (“Bitcoin crash”, “crypto winter”) at multi-month highs
- Bitcoin dominance: rising to 59–60% → flight-to-safety within crypto
- Funding rates: briefly deeply negative → now stabilizing near neutral
Despite the pain, several contrarian signals are emerging:
- RSI (daily): deeply oversold (~22–28) — historically one of the strongest bounce zones
- High-volume capitulation cluster at $72,000–$73,000
- Exchange balances still declining → long-term holders accumulating
- Spot ETF outflows appear to be slowing — potential stabilization
What Traders and Investors Should Watch Next
Critical levels and catalysts in the coming days/weeks:
- Support zones: $72,000–$73,000 must hold for a credible local bottom
- Next downside target: $68,000–$70,000 (200-week MA area) if $72k breaks
- Resistance cluster: $76,000–$78,000 — reclaim needed for meaningful relief rally
- Macro events: February jobs report (Feb 7), CPI release (Feb 10–14), Fed speakers
- On-chain metrics: funding rates, open interest, liquidation clusters, whale accumulation signals
- ETF flows: any reversal in spot Bitcoin ETF outflows would be strongly bullish
Risk management is paramount: cap position size, use isolated margin, set hard stops, avoid revenge trading, and consider stablecoin parking during uncertainty.
FAQs – Bitcoin Crash February 2026
Why did Bitcoin drop to a 15-month low near $73,000?
Macro liquidity concerns (Fed pause), persistent ETF outflows, tariff/geopolitical uncertainty, leverage flush ($659M+ liquidations), and technical breakdown below $84k–$85k support.
What caused the quick rebound above $76,000?
$75k–$76k aligned with high-volume capitulation clusters from November 2025. Oversold RSI, positive funding rates, and dip-buying from longer-term holders defended the level.
Is this the bottom for Bitcoin in 2026?
Possible local floor if $75k–$76k holds and ETF flows stabilize. Break below opens risk toward $72k–$74k. Sustained hold + volume confirmation would signal relief rally potential.
Should I buy Bitcoin after the dip?
$77k–$78.5k offers favorable risk/reward for staged DCA entries. Wait for $80k–$82k reclaim + higher volume before aggressive longs. Below $75k risks deeper test toward $70k–$74k.
Conclusion & Near-Term Outlook
Bitcoin’s plunge to a 15-month low near $73,111 — followed by a modest rebound above $76,000 — reflects classic risk-off deleveraging amplified by macro caution, ETF outflows, leverage flush, and technical breakdown. While short-term sentiment remains fragile, the current setup (oversold technicals, extreme fear readings, positive funding rates, declining exchange balances) closely resembles previous capitulation phases that ultimately preceded powerful multi-month recoveries.
Tapbit offers traders optimal execution during volatile periods: 0% maker fees on BTC/USDT spot & perpetuals, deep liquidity, up to 125x leverage (use conservatively), staking/yield options, and instant fiat ramps. Monitor $75k–$76k support hold, $80k–$82k resistance reclaim, February jobs data (Feb 7), Fed speakers, and ETF flow direction — capitulation extremes have historically offered the best asymmetric entries of the cycle.
Track Bitcoin live & trade volatility on Tapbit:
Disclaimer: Cryptocurrency trading involves significant risk of loss. Prices are highly volatile and can change rapidly. Technical levels, ETF flows and macro events do not guarantee future price action. This article is for informational purposes only and does not constitute investment advice. Always conduct your own research (DYOR) and never invest more than you can afford to lose completely.
