Bitcoin erased its Trump rally gains, sliding to $73,000 on February 4, 2026. This marks a 45% drop from its October peak of $126,267, returning the asset to pre-election levels.<\/span><\/li>\n
A global \u201crisk-off\u201d move is hitting both crypto and stocks, as investors question the AI boom. Tech giants like Nvidia and Amazon fell over 3%.<\/span><\/li>\n
While mega-whales are accumulating, firms like Strategy Inc. face a harder time raising capital as their stock prices retreat alongside Bitcoin.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n
Jitters around US stocks and the sustainability of the artificial intelligence (AI) boom are feeding directly into crypto, with Bitcoin (BTC) sliding back to levels last seen before President Donald Trump\u2019s election-night win.<\/p>\n
BTC dropped well below US$74,000 (AU$113,220) and was trading around US$73,000 (AU$111,690) shortly before publication time, roughly where it sat in early November 2024.\u00a0<\/p>\n
The coin is now down about 15% over the period and nearly 45% off its all-time high near US$126,267 (AU$193,189), as per CoinMarketCap data.<\/p>\nSource: TradingView.<\/figcaption><\/figure>\n
Read more: Is Quantum Uncertainty Cracking Bitcoin\u2019s Store-of-Value Narrative?<\/strong><\/p>\n
Not Just Crypto: Equities Also In The Red<\/h2>\n
Equity markets are under pressure at the same time, too. Investors are questioning whether AI infrastructure spending and lofty valuations can be justified, with concern that real product demand may miss targets.\u00a0<\/p>\n
Major tech names and US indices are all in the red, with the S&P 500, Dow and Nasdaq down roughly 0.70% to 1.77%. NVIDIA, Microsoft and Amazon each lost around 2.7%\u20133.4% in the latest session as more than 100 S&P 500 firms prepare to report earnings this week.<\/p>\n
In crypto, data shows roughly US$127.25 million (AU$194 million) in BTC long positions and US$159.1 million (AU$243 million) in ETH longs were liquidated. Overall, liquidations have surpassed US$2.5 billion (AU$3.83 billion) this week, as Crypto News Australia reported.<\/p>\n
So far, dip-buying has not reversed the trend and retail flows and accumulation by institutions such as Strategy have been visible, but insufficient.\u00a0<\/p>\n
Joe Burnett, vice president of Bitcoin strategy at Strive, argued that price action near US$74,000 (AU$113,220) still fits within Bitcoin\u2019s historical volatility. A 45% drawdown, he said, is typical for a \u201crapidly monetizing asset,\u201d not an outlier.<\/p>\n\n
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This model shows current bitcoin price action is still sitting within historical norms at $74,000.<\/p>\n
Bitcoin is down ~40% from its October high while U.S. equities remain near all time highs, with the S&P 500 down less than 10%. Under those conditions, a possible ~45% bitcoin\u2026 https:\/\/t.co\/E8oiOKD3VE<\/p>\n
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