Биткоин падает ниже $70 000 впервые за 15 месяцев на фоне ликвидаций и макроэкономических факторов Translation: Bitcoin Falls Below $70,000 for the First Time in 15 Months Amid Liquidations and Macroeconomic Factors

On February 5, the price of the leading cryptocurrency dipped to $70,119, marking a low not seen since October 2024. Ethereum followed suit, dropping to $2,079.

The original cryptocurrency’s prices fell below $70,000 for the first time since November 2024, hitting a 15-month low.

Daily liquidation volumes reached $953 million, with $792 million attributed to long positions.

Vincent Liu, the Chief Investment Officer at Kronos Research, linked the downturn to a critical support level being breached after a failed rebound. He noted that three factors intensified market pressure: a wave of long position liquidations, sell-offs in the U.S. tech sector, and capital outflows from spot ETFs.

The negative trend also affected the stock market, with Coinbase shares falling by 6.14% and those of mining company BitMine decreasing by 9.17%. The Nasdaq Composite index declined by 1.51%.

Peter Chang, head of research at Presto Research, believes that the current correction is a result of global macroeconomic trends rather than internal issues within the crypto industry. Investor sentiment is at its lowest since the last bearish phase, with a popular sentiment indicator plummeting to 12 points, indicating «extreme fear.»

Chang advised ignoring market noise and assessing the long-term potential for the adoption of digital assets.

Some market participants connected the current situation to the aftermath of an incident on October 10, 2025, when a database failure at Binance caused transaction delays and inaccurate price displays, leading to a cascade liquidation of $19 billion. The exchange acknowledged technical issues and compensated affected users with over $283 million.

Hasib Qureshi, Managing Partner at Dragonfly, noted that during the October liquidity crisis, there was insufficient buying power, but liquidation mechanisms continued to operate normally.

This situation hit market makers, who will “need time to recover.” Qureshi emphasized that unlike traditional finance, crypto exchanges do not have built-in safeguards; their liquidation mechanisms are solely designed to protect the platform from insolvency.

Tension was further heightened by unverified rumors regarding a $9 billion Bitcoin sale by a client of Galaxy Digital, allegedly driven by concerns over quantum computing.

Researcher Alex Thorne dismissed these speculations.

Additionally, it is worth noting that on February 3, K33 Research analyst Vetle Lunde ruled out an 80% drop in Bitcoin from its peak.