Bitcoin Tumbles Below $70,000 Following Trump's White House Return
In a significant market development, Bitcoin, the world's largest cryptocurrency, experienced a sharp decline on Thursday, February 5, 2026, falling below the crucial $70,000 threshold for the first time since Donald Trump's return to the White House. This downward movement represents a continuation of the digital asset's recent struggles, with prices reaching their lowest point in the past fifteen months.
Price Details and Market Performance
According to data from CoinMarketCap, Bitcoin's price dropped by 9.05% to $69,231.67 at 5:54 PM on Thursday. This substantial decrease reflects the broader risk-off sentiment currently prevailing in global financial markets. The cryptocurrency's market capitalisation stood at approximately $1.38 trillion, while its trading volume over the previous twenty-four hours reached $89.33 billion, indicating heightened activity amid the volatility.
Historical Context and Ongoing Decline
Bitcoin's current price level places it near the lowest points observed since Donald Trump's election victory in early November 2024, as reported by Bloomberg. The cryptocurrency has been on a persistent downward trajectory, having lost more than 44% of its value since its peak in October 2021. This extended slump highlights the challenges facing digital assets in the current economic climate.
Factors Driving the Market Movement
The initial phases of Bitcoin's decline were primarily driven by crypto-specific liquidations, where leveraged positions were forced to close. However, the current pressure appears to stem from broader cross-asset stress affecting multiple financial markets. Data from Coinglass reveals that approximately $722 million worth of bullish positions across various cryptocurrency tokens were liquidated within the past twenty-four hours alone, contributing to the downward momentum.
This combination of factors—including political developments, market sentiment, and technical liquidations—has created a challenging environment for Bitcoin and other digital assets. Investors and analysts are closely monitoring these trends as they assess the cryptocurrency's future trajectory in the coming weeks and months.
