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Bitcoin’s recent decline is not only depressing prices, but forcing investors to cover losses at a pace not seen in recent history. About digital currency.
He pointed Chain analyst Murphy on Friday noted that the revised losses were incurred Bitcoin It reached $ 3.2 billion on February 5, a sign that traders rushed to leave when the market fell.
Murphy described this as a sell-off, stressing that the extent of the consolidation of losses exceeded the market’s reaction to popular instruments.
It was time Bitcoin fell nearly 10% on Friday to about $64,000, reaching the weakest level since the end of 2024 and losing the strength that was established after the victory of the elections of Donald Trump.
February 5 is the biggest day of Bitcoin losses ever, according to an expert
“Epic level! A huge combined damage has occurred,” the analyst said in a post translated from Chinese.
“On February 5, Bitcoin’s losses (adjusted to institutions) reached a historic high of $3.2 billion. After seeing this number, all of the above seems trivial.”
He added a list of challenges that he said failed to produce comparable losses. “Whether it was the fall of Luna, the demise of FTX, or the dark events of 312/519 – none of them caused this great loss.”
Murphy also pointed out a problem with historical data that some traders may cite when comparing high levels. “There was one more case on November 21, 2025, but at that time Coinbase updated the wallet data and the numbers were changed. But this time… it seems like a real scare.”
Bitcoin fell more than 10% to $64,000 on Friday, hitting its weakest level since the end of 2024 as a major stock market risk erased the crypto’s post-election gains.#CryptoMarketUpdate #AsiaMarketOpen https://t.co/MUsoiSrxbe
– Cryptonews.com (@cryptonews) February 6, 2026
He described the movement on February 5 as unusual because the market did not need a single head shake to fall.
The loss metrics that have been identified are analyzed more closely for signs of supplier fatigue
Murphy also responded to critics who like to measure losses in Bitcoin.
“(Some people think we should use Bitcoin statistics – that’s a misunderstanding.) The price of Bitcoin powerful; Only by measuring the value of the dollar can we measure the extent of the fear of selling the market at that time.)”
The claims come as traders debate what the withdrawal means for the next phase, especially as price volatility could lead to forced selling and accelerate losses.
Markets often look for these signs to determine if the sellers have exhausted themselves, or if panic still has room to run.
Michael Burry added a new level of difficulty. The founder of Syon Asset Management, who predicted the housing crisis in 2008, shared the Bitcoin chart on.
In a post last Thursday, Puri noted how the decline could be seen from Bitcoin’s October high of $126,000 to $70,000. He compared it to a fall that occurred between 2021 and mid-2022when Bitcoin fell from about $35,000 to less than $20,000.
A note Bitcoin posts $3.2 billion in losses, surpassing Luna and FTX appeared for the first time Cryptonews Arabic.
