BTC跌破70,000 and 50-Day MA; Bitcoin ETFs Plummet as Risk Assets Weaken (IBIT, FBTC, GBTC -2026)

Bitcoin fell below the critical 70,000 level and the 50-day moving average on February 5, 2026, spurring a synchronized sell-off in major Bitcoin ETFs. The iShares Bitcoin Trust (IBIT-US) plunged over 13% on the day, its largest one-day drop since late August 2024; the fund is down more than 27% this year as holders face widening account losses. Crypto is highly momentum-driven and correlated with broader risk assets. As tech and AI equities weaken, Bitcoin often follows. ETFs such as Grayscale Bitcoin Trust (GBTC-US) and Fidelity Wise Origin Bitcoin Fund (FBTC-US) also fell over 13% amid net outflows this year, signaling reduced exposure and heightened volatility. The broader sell-off may be linked to pressure on precious metals, with gold and silver strategies seeing unwind and margin calls that could further amplify crypto market swings.