Bitcoin has officially wiped out all gains registered after the reelection of Donald Trump to step back in the White House at the end of 2024. The cryptocurrency plummeted to just over $65,000 minutes ago, which actually puts it in a minor loss since the presidential elections.
Moreover, this means that it has lost almost $25,000 since last Wednesday. It has also shed nearly 50% of its value since the all-time high marked in early October 2025.
Naturally, investors tend to ask themselves what the most probable reason is behind this crash. As with all previous declines from the past several weeks, it doesn’t seem to be aligned with problematic fundamentals within the BTC ecosystem as a whole.
Analysts from the Kobeissi Letter indicated that the actual reason behind the consecutive price dumps is “emotional” selling. Riskier assets, such as BTC, tend to move frequently due to investor sentiment, and the current bearish trend appears to be driven by a mass exodus without any fundamental basis.
BREAKING: Bitcoin falls below $66,000 for the first time since October 2024, now down -$11,000 this week alone.
This is beginning to feel like “emotional” selling. pic.twitter.com/SMUczlcNzo
— The Kobeissi Letter (@KobeissiLetter) February 5, 2026
Doctor Profit, an analyst known for their rather bearish calls who has been predicting a substantial crash for months, noted that they have placed “big buy” orders at around $57,000-$60,000, which could be the current trend’s bottom.
The analyst added that they plan to hold for 2-3 months, and they are not interested in buying higher than that.
“I consider $57k-$60k as a great entry to make money for the short term and gain some serious % before we continue going down.”
On the other hand, MMCrypto said he believes BTC is indeed in a bear market, but it’s almost over time-wise.
I think this Bitcoin Bear Market is almost over (time wise).
We are in the last capitulation move, which may continue for a bit. Once we have MAX PAIN, it’s over, soon!
I am getting ready NOW already.
MONEY MAKING TIME IS APPROACHING!
— MMCrypto (@MMCrypto) February 4, 2026
Elsewhere, the altcoins are getting obliterated as well, and XRP is the poorest performer for some reason. The token has plummeted by almost 20% in just 24 hours and now struggles below $1.25.
The post Analysts Explain Why BTC Just Crashed to $65K and Where the Bottom Lies appeared first on CryptoPotato.