Bitcoin price is dead. Also. At least that’s what the iconic rainbow chart tells us as .cwp-coin-chart svg path { strokewidth: 0.65 !important; .cwp-coin-widget-container .cwp-graph-container.positive svg path:nth-of-type(2) { stroke: #008868 !important; } .cwp-coin-widget-container .cwp-coin-trend.positive { color: #008868 !important;background color: transparent !important; .cwp-coin-widget-container .cwp-coin-popup-holder .cwp-coin-trend.positive { border: 1px Solid #008868; }Border radius: 3px; } .cwp-coin-widget-container .cwp-coin-trend.positive::before { border-bottom: 4px Solid #008868 !Important; } .cwp-coin-widget-container .cwp-coin-price-holder .cwp-coin-trend-holder .cwp-trend { Background color: transparent !Important; } .cwp-coin-widget-container .cwp-graph-container.negative svg path:nth-of-type(2) { stroke: #A90C0C !important; .cwp-coin-widget-container .cwp-coin-popup-holder .cwp-coin-trend.negative { border: 1px solid #A90C0C;border radius: 3px; } .cwp-coin-widget-container .cwp-coin-trend.negative { color: #A90C0C !important;background color: transparent !important; } .cwp-coin-widget-container .cwp-coin-trend.negative::before { border-top: 4px solid #A90C0C !important; }
7.30%
Bitcoin
BTC
price
$69,480.49
7.30% /24 hours
24 hour volume
$71.29 billion
price 7 days
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In early February 2026, it will hover around $72,000, below its recent peak of $78,725.
Crypto Twitter sentiment is currently rivaling the desperation seen after the FTX collapse in 2022, with many claiming that this halving cycle is already doomed.
The rainbow chart is becoming crooked year by year. If you were still using the 2016 OG chart, the price would be miles below the actual rainbow. Originally BTC was now in the range of over $1 million.
Thanks Rainbowman, I saved a lot over 100,000 because this chart taught me. Well, what is it? You should post a rainbow over the earth.
Rainbow charts track Bitcoin against emotional bands, from “Bitcoin is dead” to “bubble territory.” This chart records 457 Bitcoin obituaries since 2010. This is not a prediction, but a psychological one. Purple and blue mean surrender. Orange and red mean mania.
There are two other reasons why many say this bear market is just beginning.
Discover: The next 20+ cryptocurrencies to explode in 2026
1. Clarity Act emergency talks break down due to accusations against President Trump and the UAE
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Crypto policy has just become a criminal investigation.
New York Sen. Chris Murphy accused President Trump of “potentially criminal conduct” after the UAE funneled money into the Trump family’s crypto venture through World Liberty Financial and then oversaw the swift approval of a crypto bill.
Approximately $187 million went to Trump family entities, and another $31 million went to the family of special envoy Steve Witkoff, the Wall Street Journal reported.
Murphy framed the process as a textbook quid pro quo, citing the $500 million deal in which UAE-backed Ayam Investments acquired 49% of World Liberty Financial four days before Trump took office.
“That’s corruption. These are elements of bribery. This is potentially a criminal act.” – U.S. Sen. Chris Murphy, speaking on the Senate floor
Cryptocurrency Twitter is debating whether Democrats hate cryptocurrencies even more than Trump. He’s just trying to cash in on it as much as he can. He was by no means a cryptocurrency professional.
The accusations surfaced as the White House hosted a private crypto summit with Ripple, Coinbase, Kraken, Tether, and Circle to hammer out stablecoin yield provisions related to the CLARITY Act.
Although no agreement was reached, the February deadline is fast approaching.
Discover: Top 20 Cryptocurrencies to Buy in 2026
2. Is the bear right? Cryptocurrency supercyclists will be hit hard in 2026
Some traders are predicting further declines. Cryptocurrency trader Rechtmand argues that Bitcoin lacks structural support in the mid-to-low $60,000 range, with some pointing to $67,000 as the lower end of the cycle.
The pressure is not limited to Bitcoin. Ethereum has plummeted since peaking above $3,000, with large leveraged positions reportedly facing liquidation near $1,800.
Veteran investor Michael Varley added fuel by sharing a logarithmic chart of Bitcoin that suggests an upward pattern similar to previous cycle peaks.
$BTC pattern pic.twitter.com/Ax595mNXrD
— Cassandra Unchained (@michaeljburry) February 4, 2026
Discover: Next 1000x Crypto: 10+ Crypto Tokens That Could Reach 1000x in 2026
Will there be a Noah’s Ark washout? What the data really says
By early February 2026, Bitcoin had fallen 17.5% to 20% year-to-date, falling from $87,500 to low $70,000. Rising Treasury yields will crush risk assets across the board.
Meanwhile, supercyclists like Raoul Pal, Arthur Hayes and Tom Lee continue to aim for new all-time records, even though they were completely wrong. The $67,000 to $70,000 zone is important. Anything below that and you’ll quickly reach $60,000.
Autumn continues until the hopium dies. Remember, after a flood comes a rainbow.
Read more: Is Ethereum dying or is this the biggest buy signal in a decade?
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Important points
Bitcoin price is dead. Also. At least that’s what the iconic rainbow chart shows as the price climbs around $72,000, while supercyclists like Raul Pal, Arthur Hayes and Tom Lee continue to push for new all-time highs, even though they were completely wrong.
This post will explain in rainbows why the Bitcoin price is at risk. Originally posted on 99Bitcoins.
