BitRiver has entered bankruptcy proceedings, with courts placing parent Fox Group of Companies under observation. The miner faces a claim of more than $9 million from Infrastructure of Siberia over undelivered equipment, site shutdowns including a 40 MW facility, and its CEO Igor Runets is under house arrest on tax evasion charges.

Bitcoin fell to a year-to-date low of $74,500 on Monday, trimming roughly 38% from its peak. Global crypto exchange-traded products logged heavy withdrawals last week led by large US spot ETFs, while spot market data showed aggressive buying as price rebounded toward about $79,420.

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On Tuesday, Bitcoin slipped below $73,000 amid rising volatility while US debt remained around $38.5 trillion and the 10-year Treasury yield hovered near 4.28%. Data on the ICE BofA US Corporate Option-Adjusted Spread, currently near 0.75, suggests credit stress may still be underpriced, and past cycles show BTC has often bottomed several months after spreads begin to widen. Onchain metrics also reveal increased whale deposits to Binance and a cooling spent output profit ratio, which some analysts say could precede an accumulation window later in 2026.

On Feb. 3, Bitcoin briefly dropped about 8%, undercutting the $73,000 level before rebounding toward $74,500 and trimming the intraday decline to 5.8%. The move coincided with macro risk-off sentiment tied to Kevin Warsh's Fed chair nomination and disappointing Microsoft Azure growth, while more than $2.5 billion in liquidations and thin weekend liquidity amplified the selloff. Bitcoin is now trading around key support between roughly $72,700 and $73,500, with resistance clustered from about $74,500 up to the $80,620 zone.

Bitcoin (BTC) fell below $73,000 on Tuesday, briefly touching around $72,900, its lowest since November 2024. The token is down roughly 4% in 24 hours and about 15% over seven days, while Ethereum dropped 25% and XRP about 17% week‑on‑week. The sell‑off has widened across major cryptocurrencies.

On Tuesday, Bitcoin slid under $73,000 to a 2026 low of $72,945 as U.S. stocks fell ahead of a heavy earnings calendar. Year-to-date, BTC is down 15% and sits nearly 45% beneath its $126,267 record, after bulls failed to defend $80,000. Tech weakness and equity volatility added pressure while leverage-driven selling intensified across crypto markets.

Galaxy Digital CEO Mike Novogratz said in a Bloomberg interview he does not think "quantum computing fears" explain Bitcoin's drop below $74,000, the first break since November 2024. He attributed the move to a "seller's virus" and noted prices are set at the margin, with more sellers than buyers.