Bitcoin plunges, breaking through the $64,000 mark.

VTV.vn - Bitcoin plummeted to its lowest level since November 2024 as a wave of sell-offs intensified, pessimism prevailed, and institutional capital showed signs of reversing.

During trading on February 5th, Bitcoin plummeted 13%, breaking through the $64,000 mark amid a widespread sell-off and growing doubts about the prospects of the digital asset. At one point, the world's largest cryptocurrency fell to $62,303, its lowest level since November 2024.

Bitcoin's failure to hold the psychological threshold of $70,000 triggered stronger selling pressure, pushing the price back to near pre-US election levels. This week alone, Bitcoin has lost nearly 20% of its value. The weakening market structure and signs of a reversal in capital flows from large financial institutions are shaking Bitcoin's role as a "safe haven" against macroeconomic and geopolitical risks.

Bitcoin cryptocurrency. (Photo: Getty Images/VNA)

According to Deutsche Bank expert Marion Laboure, the prolonged sell-off shows that traditional investors are gradually losing interest, while pessimism is prevailing throughout the cryptocurrency market. Many of the hype surrounding bitcoin has not materialized, and the use of cryptocurrencies for goods and services remains very limited.

Bitcoin's performance continues to lag far behind gold, falling nearly 30% over the past year, in contrast to the precious metal's 68% gain. Other cryptocurrencies also plummeted, with Ether down 23% and Solana down 24% this week. CoinShares analyst James Butterfill believes that failing to hold the $70,000 mark makes a retreat to the $60,000-$65,000 range more likely.

Notably, demand from institutional investors is declining. CryptoQuant reports that US bitcoin ETFs have become net sellers in 2026. For the first time since March 2022, the price of bitcoin fell below its 365-day moving average, raising concerns that the price could continue to retreat to the $60,000 region.

Source: https://vtv.vn/bitcoin-lao-doc-xuyen-thung-moc-64000-usd-100260206080602217.htm