{"id":132633,"date":"2026-02-05T08:19:27","date_gmt":"2026-02-05T08:19:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=132633"},"modified":"2026-02-05T08:19:27","modified_gmt":"2026-02-05T08:19:27","slug":"crypto-market-news-today-february-5-i-am-free-freefalling-8-drop-in-bitcoin-and-ethereum-price","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=132633","title":{"rendered":"Crypto Market News Today, February 5: I Am Free, Freefalling! 8% Drop in Bitcoin and Ethereum Price"},"content":{"rendered":"

Bitcoin price has stepped off a cliff, and we are free-falling. So, congrats bears!<\/p>\n

Just in a single session, Bitcoin tumbled by 8% to $70,000 level, dragging the Ethereum price down to under $2,100. As cruel as it is to us, this likely happens because of the wobbling global tech stocks. Liquidity is thinning out, and the Nasdaq had just wrapped up a bruising two-day rout. Crypto has not decouple itself from equity yet this cycle.<\/p>\n

Bitcoin price is now flirting with levels last seen in November 2024, while Ethereum looks even shakier thanks to underwhelming ETF inflows and crowded leverage.<\/p>\n\n

Now, is the next pump just a dead cat bounce if it comes, or is this really the crypto bottom? But knock knock rock lovers, precious metals aren\u2019t doing any better.<\/p>\n

Bitcoin Price Under Pressure and Puts People on The Street<\/h2>\n

From a technical angle, Bitcoin price turned decisively bearish once it lost the $71,000 support zone. Sellers are taking control, and miners are stopping their operations. Block times stretched toward 20 minutes, squeezing profitability and putting stress as more than $700 million in long leveraged positions were liquidated, ripping off a financial bandage in just a single violent move.<\/p>\n

Fear is loud right now, and as usual, we get another Tether and Binance FUD. USDT briefly slipped to \u201c$0.998,\u201d and bears say it\u2019s depegging. Good joke when nothing is interesting, right?<\/p>\n

BREAKING: Tether tumbles to $0.9980, its weakest peg in over 5 years. Some analysts warn a full untethering could hit soon, which could cripple the crypto market, as 87%+ of trading volume flows through USDT. pic.twitter.com\/X1eUwFH4Qs<\/a><\/p>\n

\u2014 SwanDesk (@SwanDesk) February 5, 2026<\/a><\/p>\n\n

Then there is renewed talk around Brock Pierce, helping the bears to exceed their target. But wait, history also has a sense of humor. In prior cycles, these moments of panic lined up well with local Bitcoin price bottoms, once equity markets stopped bleeding.<\/p>\n

Multicoin Capital co-founder Kyle Samani stepping away to focus on AI and robotics fueled speculation about capital rotating out of crypto. Then, the NexFundAI wash-trading scandal, which led to charges against 15 entities, took another hit.<\/p>\n

0\/ A personal update<\/p>\n

I have decided to step back from @multicoin<\/a>. It’s a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life. That said, I am excited to take some time off and explore new areas of technology.\u2026<\/p>\n

\u2014 Kyle Samani (@KyleSamani) February 4, 2026<\/a><\/p>\n\n

Another bearish news comes from Bhutan, the country reportedly shifted about $22 million worth of Bitcoin to exchanges during the dip. Bhutan\u2019s decision comes while political heat rose, US lawmakers probed crypto ties linked to World Liberty Financial and a $500 million UAE stake.<\/p>\n

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