Bitcoin Price Volatility & Market Sentiment₿ Crypto•Bitcoin

Bitcoin Plummets Amid Macro Headwinds & ETF Outflows

February 4, 2026, 06:00 AM153 words10 sourcesAI-Generated · Reviewed by editorial team
Bitcoin
Bitcoin Plummets Amid Macro Headwinds & ETF Outflows

Photo: Pexels / Melvin Silva

Bitcoin experienced a significant sell-off this week, plummeting to a year-to-date low of around $73,000, representing a 40% drop from its peak. The decline was triggered by a confluence of factors including macroeconomic uncertainty, particularly surrounding Federal Reserve policy and President Trump’s Fed Chair nomination, disappointing Big Tech earnings, and a strengthening dollar. Over $2.5 billion in liquidations exacerbated the downturn, impacting crypto-related stocks like MSTR, GLXY, and COIN. Spot Bitcoin ETFs saw substantial outflows, indicating increased risk aversion among institutional investors. While some analysts, like Tom Lee, predict a bottoming pattern and a potential parabolic phase, a consensus leans bearish, with several experts, including Galaxy Digital and Michael Nadeau, forecasting further declines, potentially to $58,000 or $65,000. Despite the downturn, some buying interest emerged, and the MVRV Z-score suggests potential undervaluation. However, weak conviction and limited buying pressure at current levels remain concerns. Key support levels are identified between $68,000 and $72,000.

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This article is based on analysis of 15 source articles from our news database.

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