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Bitcoin, the largest cryptocurrency, dropped below $70,000 on Thursday, 5 February, reaching its lowest level in the past 15 months amid a broad risk-off sentiment in global markets.

The prices of the crypto token dropped 9.05% to $69,231.67 at 5:54 pm on Thursday, according to CoinMarketCap data. The crypto token's market capitalisation stood at $1.38 trillion. Its trading volume in the last 24 hours was $89.33 billion.

Bitcoin is continuing its downward trend, having lost over 44% from its October 2021 peak. On Thursday, Bitcoin remained near the lowest levels seen since Donald Trump’s election victory in early November 2024, Bloomberg reported.

The earlier stages of the slump were driven by crypto-specific liquidations, while the current pressure stems from broader cross-asset stress. In the past 24 hours, approximately $722 million worth of bullish positions across various tokens have been liquidated, the report said, citing Coinglass data.

(More to come…)

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