Oh, you weren’t scared enough yet? Let us explain. Bitcoin, that magical digital ledger of trust, took a nosedive on Tuesday, 3 February, plummeting to levels last seen when dinosaurs still mined crypto with their tails. Selling? Oh, it’s not just heavy-it’s a full-blown stampede of panic in the spot and derivatives markets. Welcome to the Great Crypto Exorcism of 2026.
This isn’t just a drop; it’s a free fall. After weeks of clinging to life like a koala on a trampoline, Bitcoin finally gave up and asked, “What’s the point?” According to TradingView, it hit a measly $73,000, a 7% single-day loss that makes your ex’s Instagram captions look optimistic. And let’s not forget the symbolic mid-$80,000 support zone-now a tombstone for hope.
Key Support Gives Way: Bitcoin’s ‘I Give Up’ Moment
Recovery attempts over the past month? More like a toddler’s tantrum. Each bounce fizzled out like a deflated balloon, leaving behind a trail of shattered dreams and leveraged traders with heebie-jeebies. Once Bitcoin lost the $80,000-$82,000 band, it was like watching a dog chase its tail-just… faster.
Daily charts now scream “bear market” louder than a toddler in a candy store. Lower highs, lower lows-it’s the financial equivalent of a participation trophy. And the RSI? Oh, it’s in the “I give up, let’s play chess” zone at 23. Classic.
Volume Surge: The Robot Apocalypse Has Begun
Trading volume spiked like a caffeinated squirrel. This wasn’t just “sell, sell, sell”-it was a full-blown panic button for leveraged traders. Stop-loss triggers went off like fire alarms at a warehouse party. And the accumulation/distribution indicator? It’s trending lower faster than your patience for crypto analysts.
Capital is fleeing like it’s 2008 and no one remembers where they hid their savings. Short-term relief rallies? Don’t hold your breath. This is a bear market in a trench coat, and it’s not here to make friends.
What to Watch Next: Spoiler: It’s Still Terrible
If Bitcoin wants to stabilize, it’ll need to reclaim support levels with the vigor of a caffeine addict. But let’s be real-it’s more likely to do the cha-cha of doom again. Until then, volatility is the new best friend, and downside risks are the party crashers everyone invited.
Final Thoughts
- Bitcoin’s November 2024 low is now a historical landmark. Bring a shovel.
- Oversold signals? More like “overdead.” Reclaiming support is the only way out of this dumpster fire.
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2026-02-03 23:03