https://www.cnbc.com/2026/02/05/bitcoin-price-today-70000-in-focus.html Skip Navigation CNBC Markets * Pre-Markets * U.S. Markets * Currencies * Prediction Markets * Cryptocurrency * Futures & Commodities * Bonds * Funds & ETFs Business * Economy * Finance * Health & Science * Media * Real Estate * Energy * Climate * Transportation * Investigations * Industrials * Retail * Wealth * Sports * Life * Small Business Investing * Personal Finance * Fintech * Financial Advisors * Options Action * ETF Street * Buffett Archive * Earnings * Trader Talk Tech * Cybersecurity * AI * Enterprise * Internet * Media * Mobile * Social Media * CNBC Disruptor 50 * Tech Guide Politics * White House * Policy * Defense * Congress * Expanding Opportunity Video * Latest Video * Full Episodes * Livestream * Live Audio * Live TV Schedule * CNBC Podcasts * CEO Interviews * CNBC Documentaries * Digital Originals Watchlist Investing Club * Trust Portfolio * Analysis * Trade Alerts * Meeting Videos * Homestretch * Jim's Columns * Education * Subscribe Join IC PRO * Pro News * Josh Brown * Mike Santoli * Calls of the Day * My Portfolio * Livestream * Full Episodes * Stock Screener * Market Forecast * Options Investing * Chart Investing * Subscribe Join Pro Livestream Menu * Make It * select * USA * INTL * Livestream Search quotes, news & videos * Livestream Watchlist SIGN IN Create free account Markets Business Investing Tech Politics Video Watchlist Investing Club Join IC PRO Join Pro Livestream Menu Markets Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow Published Thu, Feb 5 20266:43 AM ESTUpdated 33 Min Ago thumbnail Liz Napolitano@LizKNapolitano thumbnail Arjun Kharpal@ArjunKharpal WATCH LIVE Key Points * The flagship cryptocurrency continued to crater on Thursday, breaking through several key levels and falling as low as $62,303.19. * Bitcoin is down by nearly 20% this week alone. * This decline in cryptocurrency is happening alongside a sharp sell-off in U.S. tech stocks. In this article * BTC.CM= * ETH.CM= * XRP.CM= Follow your favorite stocksCREATE FREE ACCOUNT Cheng Xin | Getty Images Bitcoin sank below $64,000 on Thursday as investor confidence continued to falter in the asset once hailed as "digital gold" and a unique store of value. At one point, the token slid to $62,303.19, its lowest level since November 2024. It was last trading at $63,010.00. Digital assets, including bitcoin, have fallen deeper into the red as investors re-assess the practical utility of a token that has been championed not only as a hedge against inflation and macroeconomic uncertainties but also as an alternative to fiat currencies and traditional safe-havens such as gold. That hasn't panned out lately, since bitcoin peaked just north of $126,000 in early October. The cryptocurrency broke below $70,000 earlier in the session Thursday and then the selling increased, bringing the asset closer in line with its pre-election level. The cryptocurrency is down 20% this week alone. Stock chart icon hide content Bitcoin, 1 day "This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing," Deutsche Bank analyst Marion Laboure said Wednesday in a note to clients. Growing investor caution comes as many of the sensationalized claims about bitcoin have failed to materialize. The token has largely traded in the same direction as other risk-on assets, such as stocks, particularly during recent geopolitical and macroeconomic flare ups in Venezuela, the Middle East and Europe, and its adoption as a form of payment for goods and services has been minimal. Bitcoin underperforming gold Bitcoin is down nearly 30% over the past year, while gold has surged 68% in the same period. Other cryptocurrencies are cratering too. Ether has pulled back 23% this week, on track for its worst week since November 2022, when it slumped 24%. Solana hit $88.42 on Thursday, about a two-year low and off 24% on the week. Some traders have suggested $70,000 is a key level to watch and a break below that could trigger further declines for bitcoin. James Butterfill, head of research at Coinshares, said $70,000 is shaping up as a "key psychological level," adding that "if we fail to hold it, a move toward" the $60,000 to $65,000 range "becomes quite likely." Stock chart icon hide content The price of bitcoin over the last year. The latest move in bitcoin comes amid a worsening sell-off in U.S. tech stocks. The State Street Technology Select Sector SPDR ETF dropped 2.8% Wednesday, one day after losing 2.2%. Meanwhile, precious metals continue to be volatile too, with silver plunging again on Thursday and gold under pressure. Forced liquidations -- when traders' positions are automatically sold as bitcoin hits a set price -- continue to weigh on markets. As of Thursday, more than $2 billion in long and short positions in cryptocurrencies have been liquidated this week, according to data from Coinglass. Bitcoin has been on a steady decline for more than three months, and is now more than 45% below its October high. Other cryptocurrencies, including ether and XRP, have fallen even more. "[The] straight line bull run that a lot of people expected hasn't really materialized yet. Bitcoin isn't trading on hype anymore, the story has lost a bit of that plot, it is trading on pure liquidity and capital flows," Maja Vujinovic, CEO of digital assets at FG Nexus, told CNBC's "Worldwide Exchange." Downside crypto volatility will persist as liquidations, falling equities hit sector: Citi's Saunders watch now VIDEO3:2203:22 Downside crypto volatility will persist as liquidations, falling equities hit sector: Citi's Saunders The Exchange Institutional demand reverses While many in the crypto market have previously credited large institutional investors with supporting the price of bitcoin, now it is those same participants who appear to be selling. "Institutional demand has reversed materially," CryptoQuant said in a report on Wednesday. U.S. exchange-traded funds, which purchased 46,000 bitcoin this time last year, are net sellers in 2026, CryptoQuant said. The report notes other worrying signs. "Bitcoin has broken below its 365-day moving average for the first time since March 2022 and has declined 23% in the 83 days since the breakdown -- worse than the early 2022 bear phase," CryptoQuant analysts said. A moving average tracks the price of an asset over a set number of periods, smoothing out short-term price fluctuations to identify trends. The latest leg lower in bitcoin suggests "potential downside toward the $70K-$60K range," CryptoQuant said. CNBC logo * * * * * * * * Subscribe to CNBC PRO * Subscribe to Investing Club * Licensing & Reprints * CNBC Councils * Select Personal Finance * Join the CNBC Panel * Closed Captioning * Digital Products * News Releases * Internships * Corrections * About CNBC * Site Map * Podcasts * Careers * Help * Contact * News Tips Got a confidential news tip? We want to hear from you. 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