Bitcoin drops below $72,000 on 4 February as spot demand weakens and long liquidations surge

On 4 February, Bitcoin slid under $72,000, extending its recent downtrend and reaching a new local low amid selling in spot and derivatives markets. The price briefly touched an intraday low near $71,700 and was last seen around $71,800, down about 5% on the day, as weak U.S. spot demand and over $235 million in liquidations, mostly from longs, weighed on the market. Technical focus has now shifted to the $70,000 area as a key psychological level, with $75,000–$78,000 viewed as the first zone to reclaim for any sign of stabilization.