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Bitcoin breaks below $75,000 as forced selling piles into crypto slide

Crypto News

SINGAPORE, Feb 4, 2026, 03:26 SGT

  • Bitcoin hovered around $74,600 in early Asian trading, slipping roughly 4.8% for the day
  • CoinGlass data revealed that roughly $2.56 billion in bitcoin positions got liquidated over the past few days
  • Analysts highlighted risk-off sentiment and thin liquidity, while some traders braced for further declines

Bitcoin dipped to roughly $74,600 in early Asian trading Wednesday, deepening a steep crypto sell-off that forced many out of leveraged positions. Data from CoinGlass revealed $2.56 billion worth of bitcoin positions wiped out in the past few days. Adam McCarthy of Kaiko noted that “people [are] taking a step back while they have to reassess their risk frameworks.” (

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