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Bitcoin Drops to $60,000 amid Global Market Turmoil

Business

Business Honor
06 Febuary, 2026

Cryptocurrency loses over 50 percent from all-time high as institutional outflows and tech stock declines hit investor confidence.

Bitcoin, the world’s largest cryptocurrency, has taken a sharp hit this week, falling to levels closer to $60,000 on Friday as global stocks see a sell-off. This decline from Bitcoin reflects a significant shift for the cryptocurrency, having reached an all-time high of $126,000 at the end of 2025.

The particular cryptocurrency dipped under $70,000 for the first time in more than one year on Thursday and continued in its downward trend, dipping closer to the $60,000 support zone by Friday, as per recent data. The decline has seen the cryptocurrency eliminate more than 50 percent of Bitcoin's maximum possible value, fueled by an outflow from institutional sources and a general trend away from risky assets like tech stocks and digital currencies. According to them, macroeconomic factors are a major driver behind the persistent decline.

"Bitcoin's current price action reflects a classic risk-off environment," said a market strategist at 10X Research, who added that the downside pressure will likely remain until confidence returns to the crypto sector. This kind of volatility often leads to forced liquidations and indiscriminate selling, further putting short-term pressure on prices.

The dip in Bitcoin's value has been reflected in related markets, wherein major crypto exchanges and blockchain-linked firms have shared price declines. Such a downturn simply reflects the very cyclicality of digital assets, which are highly sensitive to international financial conditions. Looking ahead, investors will be watching for stabilization in the broader markets and potential catalysts to support a rebound in cryptocurrency prices.