Over 140,000 traders liquidated as cryptocurrencies plunge over 14%

On February 5, gold and silver surged sharply, as of around 7:15 AM Beijing time, gold regained the $5000 mark, and silver also strengthened, with spot silver slightly rising to $89.08 per ounce, and COMEX silver up over 4%.

In terms of news, according to CCTV News, after several Middle Eastern leaders urgently lobbied the Trump administration to abandon its threat of withdrawing from negotiations in the afternoon, the U.S.-Iran nuclear talks originally scheduled for the 6th have been restored, with negotiations taking place in Oman. The U.S. had previously rejected Iran’s proposal to change the meeting location from Istanbul, Turkey to Oman.

The sell-off led by Bitcoin has accelerated, with major cryptocurrencies continuing to decline. As of 7:10 AM Beijing time, Bitcoin fell nearly 4% to $72,646 per coin, SOL plummeted over 7%, and ETH and XRP dropped over 4%. In the past 24 hours, over 140,000 people globally have been liquidated.

According to Caixin News, Bitcoin has dropped to its lowest level since Donald Trump won the presidency in early November 2024. Trump promised to promote the development of the digital asset sector during his campaign, which once drove cryptocurrency prices to soar.

The sharp decline in Bitcoin has also raised questions about its status as “digital gold.” Some believe cryptocurrencies are facing a “crisis of confidence.” Pimco Managing Director Pramod Dawan stated that the narrative of Bitcoin as “digital gold” has weakened, and its price decline indicates that cryptocurrency is “not a monetary revolution.” Many in the cryptocurrency community have lowered their expectations for crypto trends in 2026.

(Editor: Wenjing)

Keywords:

                                                            Cryptocurrency
                                                            Bitcoin