Bitcoin Drops Below $70,000 for First Time Since November 2024

Bitcoin Drops Below $70,000 for First Time Since November 2024

Bitcoin’s 6.96% daily drop to $68,980 marks its lowest point in months, reflecting heightened market volatility and shifting investor sentiment.

BTC

Fact Check
The assessment is primarily based on the most authoritative and relevant source, the Statista Bitcoin price history. This source has a high authority (0.90) and relevance (0.90), and its summary explicitly states it contains a history chart covering 2025 and 2026, making it "highly relevant for verifying the specific price movements and dates in the claim." This strongly implies that the data within the source corroborates the statement's two key points: a recent price drop below $70,000 and that the price had remained above that level since November 2024.The Bullion by Post source, while less direct because its data is in British Pounds (GBP), covers the relevant time period (2024-2025) and serves as secondary supporting evidence for the general timeline of price action. A sustained period above a certain threshold followed by a drop would likely be visible regardless of the currency.The other three sources, concerning Ethereum, crude oil, and cocoa, are entirely irrelevant and were disregarded. There is no conflicting evidence among the relevant sources. The high quality of the primary source and the absence of any contradictions make the statement very likely to be true.
Summary

Bitcoin fell below $69,000 on Feb. 5, according to OKX market data, with the price at $68,980 per coin, marking a 6.96% decline for the day. This is the first time since November 2024 that the cryptocurrency traded under $70,000, pointing to increased market volatility and potentially altered investor sentiment.

Terms & Concepts
  • Market Sentiment: The overall attitude of investors toward a particular asset or market, often influencing price movements.
  • Price Support Level: A specific price threshold where an asset tends to stop falling due to increased buying interest.