Highlights

• Bitcoin touched the USD 70,492 on 5 February.
• The global crypto market cap stood at USD 2.48 trillion, with a 6.5% daily change.
• Ether posted 29% drop over seven days.

Bitcoin (BTC) dropped close to the USD 70,000 mark on February 5, drawing attention across the digital asset market as prices dropped sharply within a 24-hour period. The move came amid heightened activity across major cryptocurrencies, even as traditional equity indices posted declines. Data from CoinGecko shows notable short-term and long-term price changes for Bitcoin and other leading tokens, offering insight into current market behavior.

Bitcoin Nears USD 70,000 Before Pullback

Bitcoin was trading at USD 70,492.04, down USD 2,527.01 (3.46%) as of 11:39 am UTC on February 5. CoinGecko data shows Bitcoin recording drops of 7.1% over 24 hours, 19.7% over seven days, and 27.6% over one year.

Ether and Altcoins Show Similar Price Movements

Ether (ETH) was priced at USD 2,074.04, down USD 69.15 (3.23%) during the same period. According to CoinGecko, Ether posted 7.2% fall in 24 hours, 29.0% over seven days, and 24.3% over one year, indicating increased momentum compared to earlier months.

Other major cryptocurrencies also recorded declines. Binance Coin (BNB) traded at USD 686.32, down 1.38%, while XRP fell to USD 1.36, marking a 9.82% drop. Dogecoin traded at USD 0.099, slipping 4.19% during the day.

Global Crypto Market Cap and Broader Market Context

The global cryptocurrency market capitalization reached USD 2.48 trillion, reflecting a 6.5% change over the past 24 hours, as per CoinGecko data. The movement in digital assets occurred alongside declines in traditional markets.

On 4 February, the Nasdaq Composite Index closed at 22,904.58, down 1.51%, while the NASDAQ-100 Technology Sector Index declined 2.48%, ending at 12,285.79. These shifts highlight parallel volatility across both digital assets and technology-focused equities.

FAQ

Q1. Why did Bitcoin touch USD 71,000 today?
Bitcoin’s price moved dropped amid increased market activity, as reflected in short-term percentage falls across major cryptocurrencies.

Q2. How is the overall crypto market performing?
The global cryptocurrency market cap stands at USD 2.48 trillion, showing a 6.5% change in the last 24 hours.

Q3. How did altcoins perform during Bitcoin’s move?
Ether, Binance Coin, XRP, and Dogecoin all recorded price declines during the same period. 

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