Bitcoin Plunge Below $70K: Industry Voices on Panic and Outlook

Bitcoin (BTC) tumbled below $70,000 on February 5, 2026, after a 45% decline in four months. The rout followed regulatory uncertainty after the Clarity Act did not pass, as well as a分流 of capital to AI and metals. Supporting context: October 2024’s ATH of $126,000 set high expectations. Long-term holders see structural opportunity despite the short-term selloff. Balaji Srinivasan: “I am more bullish as rules-based order collapses and code-based order rises; short-term price doesn’t matter.” Samson Mow: “This drawdown feels unfair, but absolute scarcity will hit a limit and stop further declines.” Bob Loukas: “Don’t wait for dips in BTC; if you’re paralyzed by a position, consider dumping non-essential tokens. Spot BTC remains deeply discounted.” Jim Bianco: “The next leg won’t come from Boomer or TradFi adoption; focus on building an alternative financial system. BTC could reach $1M if this alternative takes hold.”