February 2 News, Bitcoin continued its decline trend, briefly falling to $74,500 today, hitting a new low since April 2025. With macro uncertainties, geopolitical tensions, and liquidity tightening coexisting, market sentiment has noticeably weakened. Senior trader Peter Brandt recently lowered his Bitcoin price forecast, adjusting the potential target from $58,000 to approximately $54,000, drawing market attention.
In a daily chart shared on social media, Brandt pointed out that if Bitcoin loses the key support zone formed last year, it may first retest the $66,500 level in the short term. If this area is broken again, the next significant technical level will be around $54,000 to $55,000. This indicates that compared to recent highs, Bitcoin may still have considerable downside potential.
He also mentioned the shareholder risks of Bitcoin treasury company Strategy (formerly MicroStrategy), implying that if Bitcoin continues to weaken, the financial health and valuation of related companies will be under pressure. Besides Bitcoin, Brandt warned that the overall market capitalization of the crypto market has fallen to about $2.55 trillion. If selling pressure persists, it could further slide to around $2.41 trillion.
From the market perspective, Bitcoin’s price has dropped over 5% in 24 hours, with trading volume also declining, indicating cautious capital flow. In the derivatives market, open interest continues to decline, and the passive reduction of leveraged longs is still happening. Meanwhile, gold, silver, and US tech stock indices have also experienced significant pullbacks, reflecting a synchronized pressure on global risk assets.
On the macro level, the US government shutdown, divergence in monetary policy outlooks, and rising risk aversion have all exerted external pressure on Bitcoin. Several analysts believe that the short-term trend still depends on liquidity changes and the pace of market confidence recovery. If key support levels cannot hold, Bitcoin may enter a deeper correction phase, and investors should closely monitor subsequent macro and on-chain data changes.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
USDT supply hits fresh $188b ATH as Tether tightens grip on stablecoins
Tether CEO Paolo Ardoino says USDT supply has hit a record $188b, cementing the stablecoin's dominance as broader stablecoin liquidity sits near all-time highs.
Summary
Tether CEO Paolo Ardoino says USDT supply has reached a record $188 billion.
The new peak comes weeks after stablecoins hit a
Cryptonews3h ago
Grayscale Research Head: Bitcoin Rally Above $76K Could Signal Start of Bull Market Phase One
Grayscale research head Zach Pandl analyzes Bitcoin's rebound from a February low, using the realized price metric to show recent buyers at breakeven and hint at an early bull phase, with a reported bottom around $65k-$70k.
Grayscale’s Pandl: Bitcoin hit ~63k in Feb, rose to ~76k; realized price ~74k shows recent buyers breakeven, hinting at early bull phase and a bottom around 65-70k.
GateNews3h ago
Scammers Impersonating Iranian Officials Demand Bitcoin and USDT from Ships in Strait of Hormuz
Gate News message, April 21 — Scammers posing as Iranian officials are demanding Bitcoin (BTC) and Tether (USDT) as transit fees from ships in the Strait of Hormuz, according to a warning from MARISKS, a Greece-based maritime risk management firm. The scheme falsely promises "safe transit
GateNews3h ago
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 21
Gate News message, according to the April 21 update, Bitcoin ETFs recorded a 1-day net inflow of 3,599 BTC (approximately $272.59 million) and a 7-day net inflow of 18,914 BTC (approximately $1.43 billion). Ethereum ETFs showed a 1-day net inflow of 34,380 ETH (approximately $79.25 million) and a 7-
GateNews3h ago
Fidelity and Capital Group Become Strive's Two Largest Shareholders
Gate News message, April 21 — Fidelity and Capital Group have become the two largest shareholders of Strive, a Bitcoin treasury company, according to CEO Cole Macro. The two firms collectively hold ASST shares valued at approximately $152.8 million, as confirmed by the company's latest
GateNews3h ago
Charles Schwab to Launch Bitcoin and Ethereum Trading, Releases Educational Content on BTC
Charles Schwab plans to expand into crypto, offering Bitcoin education and direct BTC/ETH trading, allowing customers to buy Bitcoin in accounts; analysts call it a major mainstreaming moment.
Schwab announces an expansion into cryptocurrency with Bitcoin education and direct BTC/ETH trading, enabling clients to hold Bitcoin in their accounts; analysts view this as a turning point toward mainstream adoption.
GateNews4h ago
