TreasureHunt

On February 6, 2026, the price of Bitcoin broke through the crucial support level of $60,000, a cumulative decline of over 50% from the historical high of $126,000 in October 2025. This round of plummet is not only due to technical breakdowns (50-week SMA lost, 'death cross' formed) but also exposes multiple systemic risks: institutional funds have seen a net outflow of over $4.8 billion for three consecutive months, MicroStrategy's cost line has been breached, triggering panic selling, while the delayed expectations of the Federal Reserve's interest rate cuts and the strengthening of the dollar further undermine its safe-haven attributes.
The market is showing extreme panic: over 590,000 people have been liquidated within 24 hours, with a liquidation scale reaching $2.7 billion; the CME futures have seen the fourth largest gap since 2017. Analysts point out that the correlation between Bitcoin and US stocks has risen to 46%, the 'digital gold' narrative has failed, and its high volatility has become a drag during the liquidity tightening cycle. Although long-term holders still hope for the bull market to restart with the halving cycle at the end of 2026, the current price has already breached the cost lines of whales like BlackRock, and if it triggers a chain sell-off, it may drop to the $40,000-$60,000 range.