Why did Bitcoin USD drop 6.94% today?

Bitcoin USD fell due to macroeconomic uncertainty, Federal Reserve policy shifts, and institutional ETF outflows. Over $2.5 billion in crypto liquidations accelerated the decline. Mining profitability hit 14-month lows, adding fundamental pressure. Traditional safe havens like gold surged, pulling capital from riskier assets like Bitcoin.

What is the Bitcoin USD price forecast for February 2026?

Monthly forecast targets $92,791 (+18% from current levels). Quarterly forecast reaches $125,516.64 (+59.5%), returning toward October's peak. Yearly forecast sits at $95,894 (+21.9%). These targets assume stabilization at support levels and renewed institutional interest in the coming weeks.

What technical levels matter for Bitcoin USD now?

Key support: $84,208.69 (Bollinger Band lower), $83,600 (Keltner Channel lower), $75,644 (day low). Resistance: $93,209.41 (Bollinger Band upper), $89,813.60 (50-day average). The RSI at 48.91 is neutral, while ADX at 25.89 confirms a strong downtrend remains in place.

Is Bitcoin USD oversold or overbought?

Bitcoin USD is neither oversold nor overbought. The RSI at 48.91 sits in neutral territory. However, the MACD shows bearish pressure despite a bullish histogram divergence. Price trading below both 50-day and 200-day moving averages suggests weakness persists despite potential exhaustion signals.

What could trigger a Bitcoin USD recovery?

Federal Reserve policy easing signals, improved mining profitability, geopolitical de-escalation, or institutional re-entry could spark recovery. A bounce from $84,208 support toward $88,000-$90,000 would signal reversal. Positive macro catalysts and stabilization of liquidation pressure are key recovery drivers.

Crypto Insights

Bitcoin USD Faces $69K Test as -6.94% Plunge Triggers $2.5B Liquidations

ByDanny Kontos February 2, 2026February 2, 2026

Bitcoin USD (BTCUSD) is experiencing significant downward pressure as of February 1, 2026. The leading cryptocurrency has declined 6.94% to trade at $78,648, marking its lowest level in nine months. This sharp pullback follows a broader crypto market correction that triggered over $2.5 billion in liquidations across major exchanges. Market participants are now watching critical support levels as macroeconomic uncertainty and policy shifts weigh on investor sentiment. Understanding the technical backdrop and near-term catalysts is essential for tracking Bitcoin USD’s next major move.