Bitcoin price dip to $60k on February 5 sparks debate over what counts as a true crypto crash

On February 5, 2026, Bitcoin briefly slid to about $60k, reigniting arguments over whether the market is in a dip or a full crash. Social data from Santiment suggests traders only began using the word "crash" at that low, which coincided with a rebound and a 13% climb from the daily bottom. Compared with the over 70% drawdown following the 2022 FTX collapse, the latest move is framed as a sharp but still "dip-like" correction rather than a structural breakdown.