Bitcoin Price Action Makes Lower Lows After Failed $76,000 Relief Bounce
The post Bitcoin Price Action Makes Lower Lows After Failed $76,000 Relief Bounce appeared on BitcoinEthereumNews.com.
Bitcoin fell to its lowest level since late 2024, breaking below its prior local low as traders turned their attention to $70,000 and lower support zones. Bitcoin (BTC) saw a second dip below $73,000 after Wednesday’s Wall Street open as US sellers returned. Key points: Bitcoin falls further into territory not seen since late 2024, dropping under Tuesday’s prior low. Macro assets lose steam as precious metals give back recent gains. Traders lie in wait for deeper long-term lows on Bitcoin to come next. Bitcoin joins precious metals in failed relief bounce Data from TradingView showed characteristic BTC price weakness during the US trading session, with lows of under $72,500 on Bitstamp. BTC/USD one-hour chart. Source: Cointelegraph/TradingView These beat the 15-month lows seen the day prior, and a relief bounce above $76,000 was short-lived. Macro assets were subdued across the board, with gold failing to recapture $5,000 as support and US stocks heading lower at the open. BREAKING: Silver prices post a massive reversal, falling nearly -$9/oz in under 3 hours. Gold prices also fall -$220/oz in under 3 hours. pic.twitter.com/F6BaeFDWRl — The Kobeissi Letter (@KobeissiLetter) February 4, 2026 “Crypto remains volatile,” trading company QCP Capital wrote in its latest Asia Color market update. QCP said that the US government avoiding a fresh shutdown for the time being was “easing near-term headline risk” for markets. “In macro, the shutdown overhang has faded, but the key takeaway is how quickly fiscal standoffs can return. Homeland Security funding was only extended through Feb. 13, keeping another deadline risk in play,” it added. BTC is seeing “bear market price action” Bitcoin traders thus remained on edge as uncertainty ruled sentiment. As Cointelegraph reported, the area around $50,000 was now a popular target. Related: Bitcoin ‘reflation’ bets diverge after US PMI breaks three-year resistance…
Filed under: News - @ February 5, 2026 2:31 pm