Bitcoin slipped to an almost four-month low early on February 4, which analysts attributed to heavy-selling pressure in the global markets.
The world’s largest cryptocurrency fell below the $73,000 mark before recovering to trade around $76,384, though a decline of 1.78 percent in the past 24 hours. The sell-off sparked heightened volatility across the crypto market, with Bitcoin sliding to its lowest level since Donald Trump returned to the White House just over a year ago.
Bitcoin is finding it difficult to hold on to its place among the world’s top-10 most valuable assets by market capitalisation. Data from companiesmarketcap.com shows the cryptocurrency has slipped to the 12th spot, with a market value of about $1.524 trillion.
“Bitcoin’s brief move below the $73,000 mark, its lowest level since November 2024, reflects heavy selling pressure as markets react to sustained uncertainty. The inability to sustain levels in the $77,000–$80,000 range has led to a cautious phase, with prices now testing important demand areas around the $75,000 zone,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
According to the analyst, the decline does not appear to be driven by a single catalyst but rather a combination of positioning resets and broader market nervousness.
Citing derivatives data, Shekhar said, liquidation pressure remains a near-term overhang, yet prices are still holding above longer-term structural supports. “If this zone stabilises, the market may look to consolidate before attempting a recovery, though volatility is likely to persist until clearer macro signals emerge.”
Other cryptocurrencies were volatile, too. Ethereum was down 1.13 percent, Tehter 0.05 percent, Solana 3.46 percent, BNB 0.81 percent, USDC 0.02 percent. XRP was up 0.07 percent, Trop 1.25 percent, Dogecoin 1.96 percent, and Cardano gained 1.31 percent in the past 24 hours.
Here’s how the prices of top-10 cryptocurrencies have moved on February 4, as of 9:00 am IST.
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