{"id":93997,"date":"2026-02-06T09:59:49","date_gmt":"2026-02-06T06:59:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93997"},"modified":"2026-02-09T11:44:02","modified_gmt":"2026-02-09T08:44:02","slug":"bitcoin-tests-60000-support-triggering-billion%e2%80%91dollar-liquidations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-tests-60000-support-triggering-billion%e2%80%91dollar-liquidations\/","title":{"rendered":"Bitcoin tests $60,000 support, triggering billion\u2011dollar liquidations"},"content":{"rendered":"

On February 6, the price of the leading cryptocurrency fell to $60,000, the lowest since September 2024. It later partially recovered to the $65,000\u201366,000 range.<\/p>\n

\"BTCUSDT_2026-02-06_09-23-53\"
15-minute BTC\/USDT chart on Binance. Source: TradingVIew<\/a>.<\/figcaption><\/figure>\n

At the time of writing, bitcoin is trading at $65,889 (-6.6% over 24 hours).<\/p>\n

Altcoins fell in bitcoin\u2019s wake: Ethereum briefly dipped to $1,756, Solana to $70 and BNB to $574. Total market capitalisation declined by 6.1% to $2.3 trillion.<\/p>\n

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Source: CoinGecko<\/a>.<\/figcaption><\/figure>\n

The sharp decline triggered a cascade of liquidations. According to CoinGlass, 24-hour forced closures reached $2.59 billion. Long positions bore the brunt \u2014 $2.11 billion.<\/p>\n

\"\u0421\u043d\u0438\u043c\u043e\u043a
Source: CoinGlass<\/a>.<\/figcaption><\/figure>\n

A popular sentiment indicator<\/a> plunged to 9 (\u201cextreme fear\u201d) \u2014 the lowest reading since the metric launched in mid-2023.<\/p>\n

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Crypto Fear & Greed Index. Source: Alternative<\/a>.<\/figcaption><\/figure>\n

A perfect storm<\/h2>\n

Kronos Research\u2019s chief investment officer, Vincent Liu, called<\/a> the rout \u201ca perfect storm\u201d. He said three forces coincided:<\/p>\n