Bitcoin Price Slides to 2024 Levels: What to watch next

Bitcoin slipped below $75,000 on February 3, 2026, hitting a fresh 2026 low amid broader market pressures. The drop extended a weekly slide with bitcoin price rebounding modestly to around $76 000 by February 4th.

Bitcoin’s selloff dragged prices back to levels last seen in 2024. BTC settled near $75,660, down about 3.8% from roughly $78,670 earlier in the session. The move also punched through the psychologically important $75,000 area, with price briefly dipping to around $72,860 intraday as volatility spiked. For traders, the focus now is whether BTC can stabilize above reclaimed support or whether weakness extends toward the next downside zone.

Bitcoin’s break below $75,000 was driven mainly by macro risk-off, not a single crypto-specific shock. Market commentary pointed to a broader selloff in technology and financial stocks, alongside a stronger U.S. dollar and tighter financial conditions – an environment where BTC often trades like a high-beta liquidity proxy rather than a defensive asset. 

Reports also flagged ongoing ETF flow uncertainty and geopolitical tension as additional weight on sentiment, keeping dips from attracting confident spot demand. 

The selloff didn’t stay isolated to BTC. As bitcoin slid below $75,000, major alts weakened in sync, a typical sign of broad deleveraging rather than a “one coin” problem. In the same session, Ethereum fell toward the $2,200 area and XRP dropped roughly 4–5%, with other large caps also sliding – evidence that traders were reducing exposure across the board as risk appetite cooled. When that happens, bounces tend to be sharper but less reliable, because the market is trading positioning and liquidity – not fundamentals.

Galaxy Digital is a diversified cryptocurrency financial services firm that connects traditional finance with digital assets through trading, asset management, lending, mining infrastructure, and advisory services.

A Galaxy Digital client’s $9 billion BTC sale from last year resurfaced, fueling quantum computing threat discussions. Fears arose that quantum tech could compromise up to one-third of supply, though the sale predates the drop. Mike Novogratz, founder of Galaxy Digital, downplayed it as profit-taking or estate planning, prioritizing governance risks over quantum hype.

Key levels like $75,000 will test if bounces or breaks toward $70,000, with liquidation risks in focus. Volatility remains elevated but not panicked, hinting at rebound potential if equities steady. Watch if Bitcoin price today decouples from risk assets or follows dollar trends, avoid oversold chases. If you’re unsure whether to trade this move as a quick scalp or a multi-day swing, our guide on the best time frame for crypto trading can help you match the setup to your style and volatility.

While the massive client sale grabbed headlines, broader governance issues pose a greater long-term challenge to Bitcoin than speculative quantum fears. The profit taking is being emphasized and estate planning as likely motives behind the dump, urging focus on regulatory clarity instead. This perspective tempers the narrative, positioning the event as sentiment noise amid macro dominance.