Bitcoin falls below $72,000 as weak spot demand and long liquidations pressure price
Bitcoin declined below $72,000 on February 4, reaching a new local low amid sustained selling pressure. It traded around $71,800, down 5% on the day, marking its weakest level since late 2024. The downturn was driven by weak spot market demand, particularly from U.S. investors, as indicated by a negative Coinbase Premium Index. Additionally, over $235 million in liquidations occurred in 24 hours, with long positions accounting for $198 million, accelerating the drop. Key supports at $80,000 and $75,000 failed to hold. Traders are now monitoring the $70,000 level; a break below could lead to further declines, while reclaiming $75,000–$78,000 is needed for stabilization.
ambcrypto02/04 22:46