Bitcoin Plunge Below $66K as Crypto ETF Inflows Dry Up, Prices Fall 10% in Afternoon

Bitcoin plunged more than 10% to below $66,000 on February 05, 2026, its lowest level since October 2024. The sell-off reflects a broader flight from risk, with gold outperforming by about 70% and U.S. Treasuries gaining strength as investors seek safe havens. Since its February 2025 peak, bitcoin has lost about 50% of its value, while the S&P 500 gained roughly 10% in the same period. The pullback has sent shares of major crypto names, including Coinbase, Circle, and Robinhood, down double digits. Bitcoin is now below the average cost for many U.S. spot ETF investors at about $81,600, and corporate holders like Strategy (which holds over 713,000 coins at roughly $76,000 apiece) are feeling the pinch. Citi analysts note ETF inflows have dried up, and broader regulatory clarity in Congress remains stalled, keeping volatility high. Higher interest rates expected under potential Fed Chair Kevin Warsh and a lack of government support for crypto are also weighing on sentiment.