Bitcoin has fallen sharply to around $62,000, its lowest price since October 2024. Lead concerns about the current state of the cryptocurrency market.
The world’s largest cryptocurrency by market value has now been sliding for more than three months, with prices down over 45 per cent from recent highs. The drop reflects fading confidence among investors as market uncertainty continues to grow.
Bitcoin reached a historic peak of over $125,000 on October 5, 2025, after trading near $62,000 a year earlier. That rally did not last long. Within days, the price pulled back to about $112,000 and has continued to fall since then.
The decline has not been limited to bitcoin alone. Ethereum, the second-largest cryptocurrency, also took a hit, dropping 13 per cent to $1,863.
Figures from CoinMarketCap show that the total value of the global cryptocurrency market slipped to $2.19 trillion, with trading volume exceeding $263 billion as of 10:00 pm on Thursday, February 5, 2026.
Market watchers point to a heavy sell-off in United States technology stocks as one of the factors weighing on digital assets. Since the beginning of the year, bitcoin has lost a large share of its value amid growing pressure on risk-sensitive investments.
The recent price slump has erased billions of dollars in investor wealth, once again underlining the unpredictable nature of cryptocurrencies.
Sharp price swings remain common in the sector, driven by market sentiment, global economic trends, policy signals, and shifting investor expectations.
