Bitcoin Plunges to $60K, $2B in Derivatives Liquidations; XRP, ETH, SOL Fall

Bitcoin fell to $60,000 on February 06, 2026, erasing gains since Donald Trump’s election and marking a 50% drop from its $126,000 all-time high in October. The session saw a 14% one-day plunge, over $2B in derivatives liquidations, and the Fear & Greed Index at 5, extreme fear levels not seen in years. XRP down 20%+, Ethereum to $1,750 (-15%), and Solana to $69. Bitcoin miners could face a supply crunch as prices fall 50% from peak. Strategy Digital Assets reported a $12.4B loss on Q4, sending MSTR shares to an 18-month low at $107 (-76% from last year’s high). The company’s 713,502 BTC holdings, valued at $45B, are now underwater for the first time since 2023. Stifel analysts model a $38,000 floor for BTC if headwinds persist, while a 65% probability is priced on a move to $55K before $84K. The broader crypto market is in capitulation, with long-term holders historically accumulating and short-term holders panicking. The $60K level appears more likely to be near the bottom than the top.