Bitcoin plunge triggers massive two trillion dollar wipeout in global crypto market value
Bitcoin fell to its lowest level since 2024 as tech selloffs and hawkish Fed expectations rattled investors. The global crypto market has lost $2 trillion.
洞察:
Bitcoin plummeted to a low of $66,675.12 on February 5, 2026, leading a sharp downturn that has wiped out approximately $2 trillion in global crypto market value. This significant contraction has compressed market capitalisation across the digital asset landscape, placing intense pressure on crypto miners, exchange-traded funds, and companies holding digital assets. The move represents a major sector-level stress event, occurring alongside broader risk-off sentiment in global financial markets.
Data from CoinGecko indicates that the global crypto market has seen about $2 trillion erased since its peak in early October, with roughly $800 billion of that decline occurring within the last month. Bitcoin hit its weakest level since October 2024, recording double-digit losses on both a weekly and year-to-date basis. This downward trend has also affected Ether and the wider global crypto market, as institutional and retail investors pull back from digital currencies.
