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
'Bitcoin ETF Performance Pales Next to Gold': Mike McGlone - U.Today
Mike McGlone, a Bloomberg strategist, argues that Bitcoin ETFs may not drive long-term growth for Bitcoin, which has underperformed compared to gold. Despite recent gains, Bitcoin's performance seems capped, suggesting a potential peak in crypto enthusiasm.
UToday2h ago
Nunchuk Launches Open-Source Bitcoin Tools for AI Agents With 'Bounded Authority'
In brief
Nunchuk released two open-source tools designed to let AI agents interact with Bitcoin wallets under strict limits.
The system uses shared wallets and approval policies so agents cannot spend funds beyond defined rules.
The tools aim to support automated financial tasks while
Decrypt3h ago
The U.S. government transferred 2.44 BTC to a certain CEX, worth about $177k
Gate News message. On April 10, according to Lookonchain monitoring, the U.S. government (funds seized involving Glenn Olivio) today deposited 2.44 BTC to a CEX, worth approximately $177k.
GateNews3h ago
BlackRock withdrew 2,700 BTC and 30,000 ETH from a certain CEX.
Gate News, April 10, according to Onchain Lens monitoring, BlackRock withdrew 2,700 BTC (worth $196.87 million) and 30,000 ETH (worth $67.42 million) from a certain CEX.
GateNews3h ago
Bhutan’s Bitcoin reserves are down by more than 70%, with the sovereign wealth fund DHI frequently transferring assets, drawing attention
The Royal Government of Bhutan recently transferred approximately $18 million worth of Bitcoin. Its holdings have decreased from about 13,000 BTC in 2024 to 3,774 BTC, a reduction of more than 70%. The assets are managed by Druk Holding, and the country uses hydropower to mine Bitcoin. The recent transfers may be related to infrastructure financing needs. Bhutan still remains one of the world’s major Bitcoin-holding countries.
ChainNewsAbmedia4h ago
Tom Lee: The market is showing signs of forming a bottom; Ethereum, BMNR, and Bitcoin are recommended.
Gate News message, April 10, renowned market analyst Tom Lee posted that there are increasing signs the market bottom has already formed, even though the overall market still generally remains skeptical. Tom Lee suggested that for investors who are still skeptical, they could consider buying assets that performed ahead during the U.S.-Iran war. He pointed out that Ethereum and BMNR are among his top picks, and Bitcoin is also included among the recommendations. Tom Lee believes that crypto assets have already proven themselves to be a store of value during wartime.
GateNews4h ago
