As of February 2, 2026, Bitcoin $BTC is trading around $75,924, marking a sharp decline of about 11% over the past week and nearly 40% from its all-time high of $126,000 last year. This drop has pushed BTC into technical bear market territory, dipping below key supports like $78,000 and flirting with nine-month lows amid geopolitical tensions, U.S. monetary policy shifts, and spillover from precious metals sell-offs. Technical indicators show oversold conditions on the daily chart, with RSI at extreme lows, hinting at a possible short-term bounce if it holds above $73,500-$75,000, but trader bets are piling on further downside to $75,000 or below. AI forecasts suggest BTC remains range-bound near $76,667 by month-end, with potential volatility. Overall, sentiment is bearish, but Q1 could still see a bullish turn if macro pressures

Here's the recent price chart illustrating the slide: