Bitcoin drops below $70,000 as crypto selloff deepens before U.S. equity market opens
Analysis
Price Impact
HighBitcoin has dropped below the significant psychological level of $70,000, hitting as low as $69,917.20, and the fear and greed index has plummeted to 11, signaling 'extreme fear' in the market. this indicates a strong negative sentiment and significant selling pressure.
Trustworthiness
HighThe information is provided by coindesk, a well-regarded crypto news source, with specific price data points and a clear reference to the fear and greed index.
Price Direction
BearishThe significant drop below $70,000 and the 'extreme fear' sentiment (fear and greed index at 11) strongly indicate a bearish trend in the short term, with market participants actively selling.
Time Effect
ShortThe current selloff is an immediate reaction to market conditions before the u.s. equity market opens. while 'extreme fear' can persist, the immediate effect is a sharp short-term price drop. recovery or further decline will depend on how the u.s. equity market opens and broader market sentiment evolves.
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Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin drops below $70,000 as crypto selloff deepens before U.S. equity market opens "Extreme fear" grips crypto and metals while U.S. equities show resilience ahead of key earnings By James Van Straten | Edited by Sheldon Reback Feb 5, 2026, 11:36 a.m. Make us preferred on Google BTCUSD (CoinDesk Data) What to know : Bitcoin fell below $70,000. Crypto and precious metals remain under heavy pressure, with the Fear and Greed Index at 11. U.S. equities are higher in pre market trading, with the Nasdaq-100 tracking QQQ exchange-traded fund up 0.22%. Bitcoin BTC $ 71,091.27 fell below $70,000 as the crypto selloff deepened before the start of equities trading in the U.S. The largest cryptocurrency dropped to as low as $69.917.20 according to CoinDesk data, with sentiment sliding further into "extreme fear." The Fear and Greed Index sits at 11, a level reached only a handful of times in the past STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . The selloff remains largely contained within digital assets and metals, as broader U.S. equity markets show resilience. Gold fell more than 1%, slipping below $4,900 per ounce, and silver dropped over 10%, falling to under $80 per ounce. Bitcoin News Google MicroStrategy Coinbase