Bitcoin Price Today, February 6, 2026: BTC Price Slips to USD 64,478 As Market Volatility; Lowest Since Late 2024
Bitcoin prices fell to USD 64,478 on Friday, continuing a downward trend that has wiped nearly 50% from its October peak. Market volatility, driven by a global tech sell-off and institutional outflows from ETFs, has pressured the cryptocurrency. Despite reaching a 16-month low earlier, BTC shows signs of volatile recovery.
Mumbai, February 6: Bitcoin, the world’s largest cryptocurrency, continued its downward trajectory on Friday, trading at USD 64,478 as of 8:03 AM IST. The digital asset has faced significant pressure over the last week, losing approximately 25% of its value as investors rotate away from risky assets amid a broader sell-off in global technology stocks.
The current price action follows a turbulent Thursday, where Bitcoin tallied its largest one-day drop since the 2022 FTX collapse. The cryptocurrency has now declined nearly 50% from its record high of USD 126,272 reached in October 2025. This sharp correction has erased over USD 2,000,000,000,000 from the total crypto market capitalisation since the start of the year. Bitcoin Price Today February 5, 2026: BTC Price Drops to USD 72,378 As Market Volatility Continues To Impact Crypto Sector.
Macroeconomic Factors and Institutional Outflows
The recent slump is being attributed to a combination of disappointing Big Tech earnings and higher-than-expected U.S. jobless claims, which have triggered a "risk-off" mood across financial markets. Investors are increasingly favouring traditional safe havens like gold and silver over Bitcoin, which has struggled to act as an inflation hedge in the current environment.
BTC Price Nears Key Support Levels
On-chain data reveals that institutional outflows from spot Bitcoin ETFs reached over USD 3,000,000,000 in January alone. This persistent selling pressure led Bitcoin to test a critical support level near USD 60,000 earlier this morning, hitting a low of USD 60,008 before seeing a slight rebound to its current levels.
Impact on Corporate Holders and Miners
The prolonged price decline is also raising concerns for corporate treasuries. Firms like MicroStrategy, which have heavily invested in the token, are reportedly seeing their positions come under strain. Analysts warn that if Bitcoin slips another 10%, major miners could face bankruptcy, potentially creating a "self-reinforcing cycle" of forced liquidations that could push prices even lower. Bitcoin Price Today February 2, 2026: BTC Price Tumbles to 9-Month Low Below USD 78,000 Mark Amid Fed Uncertainty and Geopolitical Tensions.
Future Outlook and Regulatory Environment
Despite the bearish sentiment, some analysts view the current "extreme fear" as a potential entry point for long-term holders. However, the market remains on edge regarding the selection of Kevin Warsh as the next Federal Reserve chair, as his potential policies on liquidity could further impact digital assets throughout the remainder of 2026.
(The above story first appeared on LatestLY on Feb 06, 2026 08:13 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).