Bitcoin Plunges Below $70K

Is Bitcoin's drop a dangerous unraveling or just another typical crypto cycle?

Published 1 day ago

story

Above: A Bitcoin is illustrated on a smartphone showing a BTC-USD price chart in Chongqing, China on Feb. 4, 2026. Image credit: Cheng Xin/Getty Images

The Spin

Narrative A

Bitcoin's plunge below $70,000 marks a critical turning point — highlighting a troubling trend driven by institutional investors fleeing the market and significant technical failures. This 40% drop from October's peak is more than mere volatility. The trajectory toward $60,000 now seems unavoidable.

Walter Bloomberg on X The Tech Buzz Forbes

Narrative B

Bitcoin's current downturn is just another typical crypto cycle, not a fundamental failure. The token has crashed harder before and bounced back every single time. This volatility is normal for an emerging asset class still finding its footing in global markets.

The Australian Economy Hub on Youtube WRAL