{"id":67640,"date":"2026-02-05T19:11:46","date_gmt":"2026-02-05T19:11:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-sinks-below-70k-xrp-plunges-14-why-the-crypto-market-is-crashing\/"},"modified":"2026-02-05T19:11:46","modified_gmt":"2026-02-05T19:11:46","slug":"btc-sinks-below-70k-xrp-plunges-14-why-the-crypto-market-is-crashing","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-sinks-below-70k-xrp-plunges-14-why-the-crypto-market-is-crashing\/","title":{"rendered":"BTC sinks below $70K, XRP plunges 14%: why the crypto market is crashing"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
\n<\/p>\n

\n

Bitcoin fell below the $70,000 mark on Thursday, reaching its lowest level in about 15 months, as a broad risk-off sentiment swept across global financial markets and intensified pressure on digital assets.<\/p>\n

The world\u2019s largest cryptocurrency slid as low as $69,821 in early New York trading before stabilising slightly, hovering near levels last seen around the time of Donald Trump\u2019s election victory in early November 2024. <\/p>\n

The move extended a prolonged downturn that has seen Bitcoin shed more than 44% from its peak in October last year.<\/p>\n

The latest decline reflects a combination of crypto-specific stress and wider cross-asset weakness, as investors reduce exposure to higher-risk assets.<\/p>\n

Ethereum and altcoins deepen losses<\/h2>\n


\n Copy link to section<\/span>
\n <\/a><\/p>\n

The sell-off has hit other major cryptocurrencies even harder. <\/p>\n

Ethereum dropped 7.71% to around $2,083, weighed down by underwhelming exchange-traded fund inflows and a surge in forced liquidations across decentralized finance platforms.<\/p>\n

Losses spread aggressively across the broader altcoin market. XRP fell 14% to $1.36, making it one of the worst performers among the top ten digital assets. <\/p>\n

Cardano and Dogecoin also erased significant gains, declining 8.16% and 7.72% respectively, with Dogecoin slipping below the psychologically important $0.10 level.<\/p>\n

Market participants said the scale of the declines highlights how difficult it has been for alternative tokens to decouple from Bitcoin\u2019s downward trajectory during periods of heightened volatility.<\/p>\n

Earlier phases of the downturn were driven largely by crypto-specific liquidations, but the latest pressure has been closely linked to broader market stress. <\/p>\n

Data from CoinGlass showed that roughly $722 million worth of bullish positions across digital assets were liquidated over the past 24 hours.<\/p>\n

The forced unwinding of leveraged trades has added to selling momentum, exacerbating price swings and reinforcing negative sentiment. <\/p>\n

Analysts said such liquidation cascades often deepen short-term losses during periods of market stress.<\/p>\n

Bitcoin has now fallen more than 20% so far this week, following a 7.48% correction in the previous one, underlining the speed of the recent decline.<\/p>\n

Global markets reinforce risk-off mood<\/h2>\n


\n Copy link to section<\/span>
\n <\/a><\/p>\n

The weakness in cryptocurrencies has coincided with a synchronised sell-off in global equities. <\/p>\n

On Wednesday, the Nasdaq 100 fell more than 2%, with losses spreading across software, semiconductor and other sectors. <\/p>\n

Stock declines extended into Thursday, with most major benchmarks in Asia and Europe trading lower.<\/p>\n

Investors have been grappling with concerns over economic momentum, monetary policy uncertainty and geopolitical risks, prompting a shift away from speculative assets. <\/p>\n

Cryptocurrencies, which often trade in line with broader risk sentiment, have been among the hardest hit.<\/p>\n

Technical indicators signal oversold conditions<\/h2>\n


\n Copy link to section<\/span>
\n <\/a><\/p>\n

From a technical perspective, the current market environment has been described by traders as resembling a \u201cfalling knife\u201d scenario. <\/p>\n

The Relative Strength Index on the daily chart stands near 20, signalling deeply oversold conditions and strong bearish momentum.<\/p>\n

The Moving Average Convergence Divergence indicator also continues to reflect a negative trend. <\/p>\n

A bearish crossover that occurred on January 20 remains intact, with expanding red histogram bars below the neutral line.<\/p>\n

While oversold readings can sometimes precede short-term rebounds, analysts cautioned that attempting to buy the dip remains risky, given the absence of clear stabilisation signals. <\/p>\n

ETF outflows add to pressure<\/h2>\n


\n Copy link to section<\/span>
\n <\/a><\/p>\n

Institutional flows have also remained a headwind. US spot Bitcoin exchange-traded funds recorded another day of heavy withdrawals on Wednesday, reflecting weakening investor confidence.<\/p>\n

According to data from SoSoValue, investors pulled $544.94 million from spot Bitcoin ETFs during the session<\/a>. <\/p>\n

The outflows followed $272 million in redemptions on Tuesday, bringing the two-day total to $816.96 million.<\/p>\n

The renewed withdrawals came as Bitcoin extended its decline, reinforcing the fragile mood across digital asset markets. <\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Invezz ) Bitcoin fell below the $70,000 mark on Thursday, reaching its lowest level in about 15 months, as a broad risk-off sentiment swept across global financial markets and intensified pressure on digital assets. The world\u2019s largest cryptocurrency slid as low as $69,821 in early New York trading before stabilising slightly, […]<\/p>\n","protected":false},"author":3947362387,"featured_media":67641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[38],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/67640"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362387"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=67640"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/67640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/67641"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=67640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=67640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=67640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}