Bitcoin’s Week From Hell: Drops to $70,000 Mark Amid Ongoing Bloodbath

Posted on February 5, 2026 by Olumide Adesina

Bitcoin dropped to $70,000, continuing its sharp decline for the third consecutive day this week. BTC fell as low as $70K, losing over 5% of its value that day. It was down 5% on the day it last traded at $72,958.38. Currently, Bitcoin has fallen more than 43% from its October peak of around $126,000.

According to a Citi note sent to clients on Tuesday, analysts say $70,000 is a critical level to watch as the decline in the digital asset intensifies. Among other factors, the token’s value is decreasing due to several geopolitical and economic issues.

A selloff led by Bitcoin has wiped out nearly half a trillion dollars from the crypto market in less than a week. The total value of the entire cryptocurrency market has fallen by $468 billion since January 29, according to CoinGecko data. Tuesday saw Bitcoin reach its lowest point since U.S. President Donald Trump was re-elected in early November 2024 and a more pro-crypto administration took office.

Bitcoin is in decline after Trump threatens Europe with tariffs.

The cryptocurrency recovered slightly on Wednesday, trading at about $76,600 at 6:50 a.m. after hitting a 15-month low of $72,877 earlier in the day in London. Bitcoin has declined roughly 40% since reaching a record high in early October, despite a pro-crypto White House and increasing institutional adoption.

The decline follows a devastating series of liquidations on October 10 that wiped out leveraged token wagers worth $19 billion, from which the larger crypto market has not yet recovered. These drops come after a turbulent week for international markets, which also posted significant fluctuations in gold and silver.

Cryptocurrencies couldn’t find support on Wednesday. Rising tensions between the US and Iran prompted investors to seek safe investments, leading to declines in both Bitcoin and US stocks. The fall in Bitcoin raises questions about its role as a “digital gold,” as it has not served as a safe haven during times of increased geopolitical uncertainty.

This week, investor Michael Burry warned that Bitcoin has not proven to be a hedge like precious metals and instead is a purely speculative asset. Over $700 million in bullish and bearish crypto bets have been liquidated in the perpetual futures market in the past day, bringing the total loss since January to over $6.67 billion, according to CoinGlass data.

Bitcoin exchange-traded funds with US listings continue to experience volatile flows, with net inflows of roughly $562 million.

Ripple’s XRP Burn’s to $1.44 – Lowest Since Trump’s November 2024 Win

Posted on February 5, 2026 by Olumide Adesina

XRP hit its lowest point since November 2024 to $1.44, the same month that US President Donald Trump was elected.

The upward trend soon slowed above $3.50 and peaked last July at $3.65 despite the bullish initial response to Trump’s election victory. Since then, XRP has been declining, and in recent weeks, this trend has accelerated. Bulls are concerned because the price is currently trading well below $1.50, where buyers stopped the decline during the April sell-off.

The break below this so-called support level, which served as the primary demand zone, signifies that sellers are now in charge.

XRP has seen steady outflows over the last four days, according to Coinglass data. The total outflows during this time have reached $57 million, suggesting that sellers may be running out of tokens as they start to leave exchanges. As some traders profit from the recent price drop, a spike in spot outflows also indicates accumulation. At the time of writing, XRP was trading at $1.04, below $2, according to CoinMarketCap. Over the last three weeks, its price has decreased by 27%.

Additionally, traders seem to be getting ready for a more significant sell-off. Over the past 24 hours, block flows on the top cryptocurrency options platform Deribit have indicated demand for both strangles, a wager on an increase in volatility, and sell spreads, a bearish strategy.

Derivative contracts known as options grant the buyer the right, but not to purchase or sell the underlying asset at a fixed price at a later time. A call option denotes a long bet on the market, whereas a put option grants the right to sell and represents a short position.

XRP at $1.44 today presents an alluring entry point with community-discussed estimates between $10-$27 since 2024 and backed by past bull markets. A 576 percent increase would be implied by such a target, which is similar to the 580 percent increase observed following the November 2024 election.

China Trader Who Made $3 Billion on Gold Bets Big Against Silver

Posted on February 5, 2026 by Olumide Adesina

A billionaire Chinese trader who made his fortune riding the record-breaking gold rally has turned his attention to silver’s explosive rise with a wager on the metal’s collapse valued at nearly $300 million.

Bian Ximing, who stays out of the spotlight and spends most of his time in Gibraltar, has profited from bullish wagers on gold contracts on the Shanghai Futures Exchange to about $3 billion

Bian has been forced to liquidate some positions at a loss due to the high risk associated with his big short.

However, he currently has a short position worth roughly 450 tons of silver, or 30,000 contracts; since last week, the metal has dropped sharply, resulting in a paper gain of roughly 2 billion yuan ($288 million).

Bian, via Zhongcai Futures, his brokerage. started increasing silver shorts in the last week of January, according to data from the exchange. The majority of SHFE’s precious metals holdings, according to the people, are made up of Bian’s personal wagers and products he directly oversees for a select group of clients.

SHFE does not reveal the identities of individual investors behind brokerage accounts. Zhongcai’s silver short position increased to roughly 18,000 lots in January, according to exchange data. 28. In January, it increased even more to roughly 28,000 lots. 30 when Shanghai’s metal hit its highest point ever.

Bian’s wager coincides with weeks of sharp price fluctuations that make market observers reconsider their one-size-fits-all strategy for precious metals.

While many institutional investors still see gold as a hedge against changes in interest rates, central bank purchases, and worldwide unpredictability, silver’s recent surge is increasingly perceived as an industrial rally driven primarily by speculative positioning.

Silver’s 20% Tumble Erases Recovery Gains Amid Ongoing Metals Rout

Posted on February 5, 2026 by Olumide Adesina

Silver struggled to find a floor and fell sharply after a historic market rout, wiping out a two-day recovery.

Spot silver fell as much as 20% on Thursday, after briefly surpassing $90 per ounce in early Asian trading. The metal has dropped more than a third from an all-time high reached on January 29 following a record-breaking rally that seemed to go too far, too quickly.

According to Christopher Wong, a strategist at Oversea-Chinese Banking Corp., “sentiment seems to have turned soggy across most asset classes, including regional equities and metals.” According to him, this has produced “a feedback loop amid thin market liquidity.”

Base metals markets were also impacted by the abrupt and severe drop in precious metals, with copper falling more than 1% to fall below $13,000 per ton. In the meantime, spot gold saw a 3.5 percent decline in volatile trading.

Last month, speculative momentum, geopolitical unrest, and worries about the US central bank’s independence all contributed to the surge in precious metals. That spike ended abruptly last week, with gold falling the most since 2013 and silver experiencing its largest daily decline ever on Friday. Large positions accumulated by investors, a surge in call-option purchases, and significant inflows into leveraged exchange-traded products served as additional fuel.

markets are currently considering the policy ramifications of Warsh’s nomination as Federal Reserve chair, with President Donald Trump stating on Wednesday that he would not have nominated Kevin Warsh for the position if he had indicated a desire to raise interest rates. In an interview with NBC News, Trump stated that there was “not much” doubt that the Fed would cut rates once more.

Silver has historically been more volatile than its pricer cousin because of its smaller market size and lower liquidity. However, the magnitude and speed of recent price movements are noteworthy, and they have been made worse by significant speculative inflows and a decline in over-the-counter trading

Bitcoin-Led Crypto Rout Erases Nearly $500 Billion in Just One Week

Posted on February 4, 2026 by Olumide Adesina

A selloff led by Bitcoin has erased nearly half a trillion dollars from the crypto market in less than a week. The total value of the entire cryptocurrency market has dropped by $468 billion since January 29, according to CoinGecko data. Tuesday saw Bitcoin fall to its lowest point since US President Donald Trump was re-elected in early November 2024 and a more pro-crypto administration took office.

The decline follows a devastating series of liquidations on October 10 that wiped out leveraged token wagers worth $19 billion, from which the larger crypto market has not yet recovered. These drops come after a turbulent week for international markets, which also experienced significant fluctuations in gold and silver.

Cryptocurrencies did not find support on Tuesday, but precious metals saw buyers after recent losses. Rising tensions between the US and Iran prompted investors to seek safe investments, leading to declines in both Bitcoin and US stocks. The fall in Bitcoin raises questions about its role as a “digital gold,” as it has not served as a safe haven during times of increased geopolitical uncertainty.

Bitcoin exchange-traded funds with US listings continue to experience volatile flows, with net inflows of roughly $562 million.

Gold/Silver Investors Queasy From Epic Swings: Hang On Tight

Posted on February 4, 2026 by Olumide Adesina

Investors in gold are generally hardy individuals who are accustomed to market fluctuations. However, the recent fluctuations have made even devoted gold bugs and the more recent generation of silver investors uneasy.

Gold

The record-breaking surge in precious metals came to an abrupt end on Friday, with silver experiencing its largest daily decline on record and gold plunging the most since 2013. On Monday, prices continued to decline. After that, gold increased by more than 6% to almost $4,950 per ounce on Tuesday, while silver increased by more than 10% to $87.

Investors had turned to gold amid geopolitical unrest and worries about the Federal Reserve’s independence, especially gold-backed ETFs. In addition, central banks expanded their holdings of the well-known haven asset, and in recent weeks, a surge of Chinese speculation drove prices even higher.

There were already rumors that prices were about to drop before the announcement that President Donald Trump intended to name Kevin Warsh as Fed chair. Warsh is seen as the most hawkish of the remaining contenders, which heightened the anticipation of a stricter monetary policy that would support the dollar and devalue gold.

Investors are attempting to understand the mechanics behind the historic slump by exchanging theories and advice on social media sites and Reddit forums. Skeptics cautioned that the market had become crowded and might continue to be volatile as positions are reset, in addition to posters promising to “buy the dip.”.

While some suggested “zooming out,” pointing out that prices are still higher than they were a year ago, others bemoaned adding to their holdings just before the downturn and openly questioned whether they should act quickly in response.

Nvidia Hits $180 Low as $20 Billion OpenAI Round Investment Report Sparks Volatility

Posted on February 4, 2026February 4, 2026 by Olumide Adesina

NVDA closed at $180.34, down almost 4%, it opened at $186.24 after hitting a low of $176.23 during the day. It fell even further to about $179 during after-hours trading. This decline is a result of volatility related to reports about Nvidia’s participation in OpenAI’s massive funding round.

NVIDIA is close to reaching an agreement to invest $20 billion in OpenAI as part of its most recent funding round. This would be the chipmaker’s largest investment in the ChatGPT developer.

According to the people who spoke on condition of anonymity because the information is confidential, Nvidia’s contribution is almost finished.

The terms of the agreement are subject to change and are not final. According to Bloomberg News, OpenAI is seeking to raise to $100 billion for a new round of funding, with a significant portion coming from big tech companies. Amazon. Com, Inc. has discussed investing up to $50 billion, and SoftBank. has discussed investing up to $30 billion.

NVIDIA may invest up to $20 billion, according to earlier reports from The Financial Times. Despite being key players in the AI boom, Nvidia and OpenAI’s relationship has recently come under increased scrutiny due to reports of tensions between the two companies. The Wall Street Journal published an article about it.

NVIDIA and OpenAI have been linchpins of the AI boom, but their relationship has come under new scrutiny in recent days amid reports of tensions between the two firms. The Wall Street Journal reported on Friday that a plan that Nvidia announced in September to invest as much as $100 billion in OpenAI overall had stalled after some inside the chip giant expressed doubts about the deal.

The chief executives of both companies have since publicly said they remain committed to working together. “We will definitely participate in the next round of financing because it’s such a good investment,” Nvidia CEO Jensen Huang told reporters while visiting Taipei on Saturday. He added that it would potentially be “the largest investment we’ve ever made.

PayPal Stock Craters on Earnings Miss, CEO Shake-Up

Posted on February 4, 2026 by Olumide Adesina

PayPal announced that Enrique Lores will succeed Alex Chriss as CEO. Chriss’s turnaround plan failed to meet goals and streamline the vast payments company.

The shares fell as much as 19 percent, the largest intraday decline in over four years, following the CEO’s announcement and a separate statement revealing that fourth-quarter profit and revenue missed analysts’ projections.

When Chriss was chosen to succeed longtime CEO Dan Schulman in 2023, committed to putting profit first while refocusing the company on PayPal’s branded checkout experience.

However, because Chriss failed to meet the new targets after raising earnings guidance twice, the stock has lagged behind competitors. On Tuesday, executives stated that they were unable to stick to their earlier projections for the upcoming year.

Evercore ISI analyst Adam Frisch stated that the timing of PayPal’s management changes “was probably a bit sooner than most were expecting.”

The key question is whether he will start looking at options for strategic assets or assemble a strong payments team to try yet another multiyear turnaround. Loro spent decades at HP, rising from an engineering internship to positions such as managing HP’s printing division and the office that oversaw the company’s 2015 split from Hewlett Packard Enterprise.

Most recently, Lores has been leading HP through more general industry challenges, such as the unpredictability of US tariffs and the decline in consumer and corporate computer demand. Under Lores, HP had been moving its global supply chain away from China and toward Vietnam, Thailand, India, Mexico, and the United States.

Tariffs threatened to derail the long-struggling personal computer market, which had started to recover last year.

Anthropic AI Tool Sparks Selloff From Software to Broader Market

Posted on February 4, 2026 by Olumide Adesina

Anthropic PBC’s new AI automation tool caused stocks in the software, financial services, and asset management industries to plummet by $285 billion on Tuesday as investors rushed to sell shares with even the smallest exposure.

An index of financial services companies fell nearly 7%, while a Goldman Sachs basket of US software stocks fell 6%, its largest one-day drop since the tariff-fueled selloff in April. Before reducing losses to 1.6 percent, the Nasdaq 100 Index dropped as much as 2.4 percent.

The selloff began before the opening of the US market, with traders citing a statement on the Anthropic website as the cause of sharp drops in the shares of the London Stock Exchange Group Plc, the business and legal software manufacturer RELX PLC, and the credit and marketing services company Experian Plc.

Shares of Indian IT firms were the most recent to plummet, along with other Asian software stocks. Tata Consultancy Services Bellwether Ltd. declined by up to 6%, while Infosys Ltd. decreased by 7.1%. Xero Ltd. is a cloud-based accounting software provider. dropped as much as 16% during Sydney trading, the highest since 2013.

Asia’s larger tech sector has shown some resilience as hardware manufacturers, especially chipmakers, continue to dominate the market and have benefited greatly from the surge in AI investment.

Anthropic is one of many AI startups creating tools for the legal sector. Startups like Legora and Harvey AI were flooding the legal sector with tools they claimed would spare attorneys from tedious work long before Anthropic’s plugin. For over two years, investors have been pouring money into AI products for the legal sector.

Legora raised money at a $1.8 billion valuation in October, while Harvey AI was valued at $5 billion in June. In contrast, Anthropic creates its own models that can be tailored to the particular requirements of an industry. It has the distinct advantage of upending both established legal news and data services and legal AI startups, given its position as a major model developer in the AI ecosystem.

Oracle Raises $25B in Bonds, Calms Fears of AI Debt Wave

Posted on February 3, 2026 by Olumide Adesina

Oracle’s debt has been trading like junk for weeks amid worries that its investments in artificial intelligence won’t pay off for years, if at all.

Those concerns seemed to subside following the software giant’s record-breaking demand for a $25 billion bond sale on Monday.

Oracle’s announcement on Sunday that it would raise roughly $25 billion in equity in addition to debt this year, assuring investors that it wouldn’t put undue strain on its balance sheet as it finances significant investments in data centers, was the catalyst for the change.

Both the tech company’s stock and bonds saw gains for most of the session. Some investors expressed optimism that could extend to the larger credit market following the company’s fundraising.

US high-grade corporate bond sales could reach record levels this year, with Morgan Stanley strategists last year forecasting about $2.25 trillion of issuance. However, investor demand for securities is still high, partly due to the continued strength of corporate profits.

The bonds’ risk premiums are nearing multi-decade lows. More than $129 billion worth of Oracle bonds were ordered by investors, surpassing the previous record of $125 billion when Meta Platforms sold $30 billion in bonds in October. According to a statement released on Sunday, the company does not anticipate selling more debt in 2026. Oracle was predicted by some bond investors to sell between $40 billion and $60 billion worth of debt this year.