{"id":418815,"date":"2026-02-05T21:16:58","date_gmt":"2026-02-05T15:46:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-may-drop-below-64k-as-veteran-raises-campaign-selling-alarm-crypto-news\/"},"modified":"2026-02-05T21:33:13","modified_gmt":"2026-02-05T16:03:13","slug":"bitcoin-may-drop-below-64k-as-veteran-raises-campaign-selling-alarm-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-may-drop-below-64k-as-veteran-raises-campaign-selling-alarm-crypto-news\/","title":{"rendered":"Bitcoin May Drop Below $64K as Veteran Raises \u2018Campaign Selling\u2019 Alarm &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p data-testid=\"post-description\">Bitcoin risks a deeper slide as miners and US spot ETFs cut BTC exposure, adding supply pressure during a fragile downtrend.<\/p>\n<div><!----><!----><!----><!--[--><\/p>\n<div class=\"_html-renderer_mz5on_1 _html-renderer--with-lightbox_mz5on_10 ct-prose\" data-testid=\"html-renderer-container\">\n<p>Bitcoin (<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) price dropped by more than 22.5% in the past week to $69,000 on Thursday, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-erases-15-months-bull-market-69k-comedown\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-erases-15-months-bull-market-69k-comedown\">wiping out 15 months of gains entirely<\/a>. However, the downtrend may not be over, according to veteran trader Peter Brandt.<\/p>\n<p data-ct-non-breakable=\"undefined\"><strong>Key takeaways<\/strong>:<\/p>\n<ul>\n<li>\n<p>Brandt says \u201ccampaign selling\u201d is pressuring BTC, with miners and ETFs also cutting exposure.<\/p>\n<\/li>\n<li>\n<p>A potential bottom zone is near $54,600\u2013$55,000.<\/p>\n<\/li>\n<\/ul>\n<figure><figcaption style=\"text-align: center;\"><em>BTC\/USD daily chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2>Bitcoin may drop another 10% as miners, ETFs cut BTC exposure<\/h2>\n<p>BTC\u2019s decline left behind a sequence of daily<strong> <\/strong>lower highs and lower lows. Simply put, the lack of even modest rebounds suggests few traders are stepping in to buy the dip, at least for now.<\/p>\n<p>This structure, according to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/PeterLBrandt\/status\/2019246686166716588\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/x.com\/PeterLBrandt\/status\/2019246686166716588\">Brandt<\/a>, had \u201cfingerprints of campaign selling,\u201d a deliberate, sustained distribution by large institutions, not retail liquidation. <\/p>\n<figure>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c2d35-98ac-7577-b373-94ab5aa86ee8.png\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>Source: X\/ @PeterLBrandt<\/em><\/figcaption><\/figure>\n<p>Onchain data supports Brandt\u2019s outlook. For instance, as of Thursday, the BTC miner net position change metric was showing a clear shift into net distribution throughout January, with miners consistently sending more BTC to the market. <\/p>\n<figure>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c2d2e-13bc-71f8-ae22-3eb78aefc4db.png\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>BTC miner net position change. Source: <\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/charts\/distribution.BalanceMinersChange?a=BTC&#038;s=1727188507&#038;subset=aggregated&#038;u=1770163200&#038;zoom=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/studio.glassnode.com\/charts\/distribution.BalanceMinersChange?a=BTC&#038;s=1727188507&#038;subset=aggregated&#038;u=1770163200&#038;zoom=\"><em>Glassnode<\/em><\/a><\/figcaption><\/figure>\n<p>US spot <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-etf-545-million-outflows-btc-nears-70k\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/bitcoin-etf-545-million-outflows-btc-nears-70k\">Bitcoin ETFs also reduced their exposure<\/a>, with net BTC balances falling to 1.27 million BTC as of Wednesday from 1.29 million at the beginning of the year. <\/p>\n<p><em><strong>Related: <\/strong><\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bhutan-reportedly-sells-more-bitcoin-from-its-reserve\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/bhutan-reportedly-sells-more-bitcoin-from-its-reserve\"><em><strong>Bhutan makes second Bitcoin transfer in a week, worth $22M<\/strong><\/em><\/a><\/p>\n<p>The <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-premium-gap-falls-to-yearly-low-signalling-institutional-selling-cryptoquant\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/coinbase-premium-gap-falls-to-yearly-low-signalling-institutional-selling-cryptoquant\">Coinbase premium<\/a>, a barometer linked to institutional interest, also fell to yearly lows.<\/p>\n<figure>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c2d2e-e03e-7f13-81c0-38f13b043f30.png\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>BTC US spot ETF balances. Source: <\/em><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/charts\/institutions.UsSpotEtfBalancesAll?a=BTC&#038;s=1753528382&#038;subset=total&#038;u=1770163200&#038;zoom=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/studio.glassnode.com\/charts\/institutions.UsSpotEtfBalancesAll?a=BTC&#038;s=1753528382&#038;subset=total&#038;u=1770163200&#038;zoom=\"><em>Glassnode<\/em><\/a><\/figcaption><\/figure>\n<p>This distribution boosted Bitcoin\u2019s chances of reaching its bear flag target of around $63,800, down 10% from current levels, as shown below, based on Brandt\u2019s technical setup.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c2d16-56ca-7882-a3d1-94954bbc648b.png\"\/><figcaption style=\"text-align: center;\"><em>BTC\/USD daily chart. Source: Peter Brandt<\/em><\/figcaption><\/figure>\n<h2>Bitcoin may bottom below $55,000<\/h2>\n<p>Bitcoin risks a deeper drop toward $54,600 amid continued institutional selling, according to onchain analyst <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/698429989a2bb639680e116e-BTC-at-70K-Signal-DCA-The-Indicator-That-Mapped-the-Bottom-of-the-Last-Bear-Mark\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/cryptoquant.com\/insights\/quicktake\/698429989a2bb639680e116e-BTC-at-70K-Signal-DCA-The-Indicator-That-Mapped-the-Bottom-of-the-Last-Bear-Mark\">GugaOnChain<\/a>.<\/p>\n<p>The downside target is aligned with the lower zone (red) highlighted in the BTC DCA Signal Cycle metric below. This zone reflects Bitcoin\u2019s one-week to one-month realized price and helps identify periods when BTC is structurally undervalued.<\/p>\n<figure>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c2d98-d32a-7f35-8f4a-8d95e45d154a.png\" title=\"\"\/><\/figure>\n<p>In 2022, the signal turned bullish as BTC fell below the same red zone near $20,000, forming a bottom around the level, before rallying to over $30,000 a year later.<\/p>\n<p>GugaOnChain said:<\/p>\n<blockquote><p>\u201cThe current price convergence toward the band signaling the start of the accumulation phase, situated around $54.6K, suggests we are in the critical transition between Capitulation and Accumulation.\u201d<\/p><\/blockquote>\n<p>Meanwhile, another analysis highlights a potential accumulation window emerging after July 2026, based on historical lag effects between <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/next-bitcoin-accumulation-phase-may-hinge-on-credit-stress-timing-data\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/next-bitcoin-accumulation-phase-may-hinge-on-credit-stress-timing-data\">widening credit spreads and Bitcoin market bottoms<\/a>.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"\/><\/div>\n<p><!--[--><!--]--><!--[--><!----><!--]--><!--]--><!----><\/p>\n<p class=\"mb-6 border-b border-t border-ct-ds-border-stronger pb-6 text-base font-medium text-black\" data-testid=\"post-category-disclaimer\"><!----><span class=\"[&#038;_a:hover]:no-underline [&#038;_a]:underline\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.<\/span><\/p>\n<p><!----><!----><!--[--><span class=\"ct-divider-horizontal my-3\"\/><!--]--><!----><!----><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin risks a deeper slide as miners and US spot ETFs cut BTC exposure, adding supply pressure during a fragile downtrend. Bitcoin (BTC) price dropped by more than 22.5% in the past week to $69,000 on Thursday, wiping out 15 months of gains entirely. However, the downtrend may not be over, according to veteran trader [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":418819,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-418815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/418815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=418815"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/418815\/revisions"}],"predecessor-version":[{"id":418823,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/418815\/revisions\/418823"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/418819"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=418815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=418815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=418815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}