Key Insights:
- Bitcoin price took a dip hit this week as the largest digital asset crashed to levels near $70,000.
- Precious metals gave back their recent gains, suggesting the early strength in risk hedges did not last.
- In that kind of market, many started talking about $50,000 as the next major level to watch for BTC price.
Bitcoin (BTC) price sank to its weakest level since November 2024, pushing past the prior bottom and putting the $70,000 area firmly back on traders’ screens.
After Wall Street opened on Wednesday, selling pressure picked up again. As U.S.-based traders stepped in, Bitcoin price slipped below $73,000 for a second time, signaling that the market’s bounce attempts still lack strength.
Bitcoin Price Slips to 15 Month Low as Traders Eye $68K
Bitcoin pushed deeper into levels the market has not seen since late 2024. In the process, it slipped below Tuesday’s low and signaled that sellers still hold the upper hand.
At the same time, the wider macro mood cooled. Precious metals gave back their recent gains, showing that the early strength across risk hedges did not last.
Now traders are watching and waiting. Many are positioning for the possibility that Bitcoin could fall into a deeper, longer-term low before the next real recovery begins.
BTC price TradingView data showed Bitcoin price slipping during the U.S. trading session. On Bitstamp, Bitcoin slid below $72,500 as selling picked up again.
That drop undercut the 15-month low from the day before. It did bounce back above $76,000 for a moment, but the move faded quickly because buyers couldn’t sustain it. QCP Capital said crypto trading still looked shaky and unpredictable in its latest Asia Color update.
Even so, the firm noted that Washington’s step back from an immediate government shutdown helped calm headlines for now, slightly reducing near-term pressure on markets. However, the firm stressed that these budget fights can come back fast, and markets should not get too comfortable.
It also pointed to Homeland Security funding, which lawmakers only extended through February 13. That short runway, QCP said, keeps another deadline risk hanging over investors.
Bitcoin Price Looks Set for Deeper Lows After Bearish Price Action
Traders stayed tense as uncertainty took over the mood across Bitcoin price action. In that kind of market, many started talking about $50,000 as the next major level to watch.
Roman echoed that caution in his latest post on X, saying the weekly setup looked rough for bulls. Besides, he argued that a close below $74,000 would likely put the $50,000 zone in play next.
The analyst said the chart was sending a clear message. He noted that volume kept jumping whenever the price dropped, and to him that meant the big action was coming from sellers, not bargain hunters.
At the same time, trader CJ said he was preparing for another move down. Even if Bitcoin price manages a short relief bounce first, he suggested the spot price could still fall by $10,000 or more.
In other Bitcoin news, Bitcoin mining stocks started 2026 with real momentum. JPMorgan said the rally drew strength from two clear drivers. Network competition eased, and investors also warmed up again to the sector’s push into high-performance computing, or HPC.
In the same report, the bank noted that the 14 U.S.-listed bitcoin miners and data center operators it tracks finished last month worth about $60 billion combined. That total rose 23% in a single month, which easily beat the S&P 500’s roughly 1% gain over the same period.