What a day today 05-02-2026, for cryptocurrencies. Indeed, Bitcoin has had one of its most difficult days in a long time, breaking key supports and approaching the $63,000 - $66,000 range. 

What we are seeing today, February 5, 2026, is a "perfect storm" caused by several macroeconomic and technical factors:

1. The "Scott Bessent Effect"

One of the main reasons for today's drop was the statements made by U.S. Treasury Secretary Scott Bessent before the Financial Services Committee. He clarified that he has no authority to order banks to buy Bitcoin, which cooled expectations for massive institutional adoption or immediate government "strategic reserve."

2. Panic in the Tech Sector

The traditional market is not helping. Shares of Alphabet (Google) and Qualcomm have fallen sharply after their earnings reports and forecasts of massive spending on AI. This has generated a "risk-off" sentiment, where investors sell volatile assets like BTC to seek refuge in cash or bonds. 

3. Liquidation Cascades

As it fell below $70,000 and then $68,000, thousands of automatic sell orders were triggered. In the last 24 hours, billions of dollars in "long" positions (people betting that the price would rise) have been liquidated, accelerating the drop like a domino effect. 

4. Employment Data in the U.S.

Today, unemployment data was released that was higher than expected and layoff figures from January that hadn’t been seen since 2009. This makes investors fear an economic slowdown, removing liquidity from the crypto market.

5. The proximity of mining costs to the profits obtained from it.

With prices falling and reaching 55k. Large mining companies might shut down their equipment, limiting BTC production. This would automatically increase its price.

Let’s hope this last point doesn’t happen and soon the $BTC reaches its stabilization level.