drop

The Bitcoin market is currently navigating a significant downturn in early February 2026, with the price having dropped nearly 50% from its late-2025 high of over $126,000. On February 5, 2026, Bitcoin plunged to an intraday low near $60,000, marking a critical technical breakdown and erasing most gains made since the 2024 US election. This crash wiped out over $380 billion in market value in a single day, leading to more than $2.6 billion in leveraged liquidations across exchanges. 
As of February 7, 2026, Bitcoin has shown signs of stabilisation, rebounding to trade around $68,000–$70,000, though market sentiment remains in "Extreme Fear". 

Key Market Impacts
The decline has caused a cascading effect across the digital asset ecosystem: 
Altcoin Deleveraging: Major cryptocurrencies experienced larger losses than Bitcoin. Over the past week, Ethereum (ETH) dropped below $1,800 (a 22.4% decline), while Solana (SOL) fell 25.2% and BNB lost 23.4%.
Exchange Vulnerability: Trading platforms face financial strain as retail activity decreases. Shares of major exchanges like Coinbase and Gemini have fallen between 40% and 55% over the last three months due to lower transaction fee revenue. Gemini recently announced a 25% reduction in staff and the closure of several international operations.
Institutional Shift: Previously a source of support, Spot Bitcoin ETFs have become a source of selling pressure, with outflows exceeding $3 billion in January. Institutions are increasingly treating Bitcoin as a high-beta risk asset rather than a hedge, with its correlation to the Nasdaq reaching record highs of 0.75. 

Primary Drivers of the Drop
Unlike previous crashes caused by exchange collapses or regulatory bans, the 2026 sell-off is attributed to a "technical exhaustion" and macroeconomic factors: 
Macro Pressure: Hawkish signals from the Federal Reserve and the nomination of a perceived inflation-hawk as Fed Chair have made non-yielding assets like Bitcoin less attractive.
AI Hype Cooling: As enthusiasm for artificial intelligence infrastructure decreases, Bitcoin miners—who had shifted to AI high-performance computing—have been forced to sell BTC holdings to stabilize balance sheets.
Leverage Flush: A massive unwind of leveraged positions has occurred, with futures open interest dropping over 20% in a week, from $61 billion to $49 billion. 

Technical Outlook
Bitcoin is currently testing critical support near $60,000. Analysts suggest that failure to decisively reclaim the $70,000–$75,000 range could signal a transition into a prolonged "Crypto Winter," while holding these levels may support a "relief bounce" toward a $2.8 trillion total market cap.

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Cuba witnessed an unprecedented weather event on Tuesday morning when temperatures in Matanzas Province plunged to 0°C at 7:00 a.m., marking the first recorded freezing temperature in the country’s history.
According to Ming Pao, this rare cold wave shattered Cuba’s previous national low of 0.6°C, which was recorded in February 1996. The sudden temperature drop is highly unusual for the tropical island, where such extreme cold is virtually unheard of.
The historic freeze underscores shifting and unpredictable weather patterns impacting the region, raising fresh concerns about climate variability and its growing influence on traditionally warm climate.#cube #ming #drop #climate #cuba

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