Why did Bitcoin price today drop below $64,000?

A global tech stock selloff sparked de‑risking, while high leverage in crypto triggered forced unwinds. As price slipped, margin calls and auto‑deleveraging accelerated crypto liquidations. With thinner liquidity during Asia hours, moves extended quickly, pushing spot through obvious levels and pressuring altcoins alongside Bitcoin.

What do $2.65B in crypto liquidations mean for volatility?

Large liquidations often mark a leverage reset. They can increase short‑term volatility as stops and margin calls fire, then reduce it once positioning normalizes. Traders should expect choppy ranges and sharp squeezes until funding, basis, and open interest stabilize and spot bids consistently absorb sell pressure.

How should Hong Kong investors adjust during an altcoin slump?

Reduce leverage, tighten stops, and avoid averaging down on weaker coins. Keep core exposure in Bitcoin or cash, and use staggered entries. Prioritize execution on licensed platforms with clear margin policies. Focus on liquidity, spreads, and fees, and wait for stabilization signs before rotating back into higher‑beta altcoins.

Which levels matter most after the selloff?

Focus on the recent intraday low near $64,000, psychological support at $60,000, and resistance around $68,000. A sustained close back above reclaimed levels with improving spot volume would indicate demand returning. Failure to hold the low‑$60,000s risks another liquidation wave and wider ranges.

Global Market Insights

BTCUSD Today, February 06: Sub‑$64K Slide on $2.65B Liquidations

ByDanny Kontos February 6, 2026February 6, 2026

Bitcoin price today fell below $64,000 intraday after a three‑day drop, with heavy leverage washouts and a tech‑led risk selloff hitting crypto. Roughly $2.65 billion in crypto liquidations affected about 584,900 traders as sentiment weakened and altcoins slid. For Hong Kong investors, the move raises near‑term volatility across crypto‑exposed portfolios. We track the BTCUSD setup, key levels, and tactics to manage risk while markets digest de‑risking in global tech and derivatives unwinds across major exchanges.