Bitcoin prices tanked to around $73,000 in late trading on Tuesday, its lowest level since November 2024.\u00a0The fall is significant because it dropped below April 2025 support levels, which were around $74,500, confirming bear market territory.<\/p>\n
\u201cNegative momentum is currently extreme as the bear market persists following the October 10 flash crash,\u201d reported<\/a> Swissblock.<\/p>\n The asset has now crashed 25% in less than three weeks and is down 40% from its all-time high.<\/p>\n \u201cBitcoin has now crashed over $53,000 in the last 120 days,\u201d observed<\/a> analyst \u2018Bull Theory\u2019 who added:<\/p>\n \u201cEither this is an insane level of manipulation or something huge has broken behind the scenes in crypto.\u201d<\/p>\n The move came as geopolitical tensions escalated<\/a> again, with Iran seeking a new format for nuclear dialogue with the United States.<\/p>\n \u201cShort-term holders have been capitulating over the past few days,\u201d said<\/a> CryptoQuant analyst \u2018Darkfost\u2019.\u00a0More than 40,000 BTC have been sent to exchanges at a loss over the past day or so, they added.<\/p>\n \u201cThis potential selling pressure appears to have impacted the market today. When large amounts of BTC are sent to exchanges, it is mainly for selling purposes.\u201d<\/p>\n Short-Term Holders have been capitulating over the past few days.<\/p>\n In the last 24 hours, more than 40,000 BTC have been sent to exchanges at a loss. This potential selling\u2026 pic.twitter.com\/yX0HcOwSs3<\/a><\/p>\n \u2014 Darkfost (@Darkfost_Coc) February 3, 2026<\/a><\/p>\n\n Santiment went into further detail, reporting<\/a> that wallets with 10 to 10,000 BTC, which hold just over two-thirds of all Bitcoin, have dumped 50,181 units in the past two weeks alone.<\/p>\n However, the world\u2019s largest exchange, Binance, \u201cshows no signs of stress,\u201d reported<\/a> CryptoQuant.<\/p>\n \u201cReserves hold near 659,000 BTC, netflows remain normal, and reserve movement sits at just 0.6%, nowhere close to the -12% panic withdrawals seen post-FTX,\u201d it added.<\/p>\n Analyst \u2018Sykodelic\u2019 also remained positive, stating<\/a> that \u201cthis section below the $74K lows will provide the springboard for the next macro leg higher.\u201d<\/p>\n \u201cTaking the lows, losing $74K temporarily, pushing everyone over the edge, even the most staunch of bulls\u2026 baiting a massive bear trap.\u201d<\/p>\n Bitcoin had returned to trade at $76,500 at the time of writing in early trading in Asia on Wednesday, so the dip below long-term support was short-lived.\u00a0However, the rest of the crypto market is in meltdown<\/a>, with total capitalization tanking to a nine-month low of $2.64 trillion.<\/p>\n Ether fell to $2,120 before a minor recovery, and most of the altcoins had crashed to crypto winter lows with very little recovery.<\/p>\n The post Bitcoin Loses Long-Term Support, Tanking to $73K as Short-Term Holders Capitulate<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin prices tanked to around $73,000 in late trading on Tuesday, its lowest level since November 2024.\u00a0The fall is significant because it dropped below April 2025 support levels, which were around $74,500, confirming bear market territory. \u201cNegative momentum is currently extreme as the bear market persists following the October 10 flash crash,\u201d reported Swissblock. The […]<\/p>\n","protected":false},"author":0,"featured_media":132279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-132278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/132278"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=132278"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/132278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/132279"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}STH Capitulation Adds to Selling Pressure<\/h2>\n
\n\u2070 Yesterday, that figure even reached 54,000 BTC.
\nAt current prices, this represents roughly $4B.<\/p>\nTotal Market Cap at 9 Month Low<\/h2>\n