The economist stated that the decline in the crypto market is related to stock sales in the United States

On Tuesday, February 3, the cryptocurrency market continued to decline amid general instability. Bitcoin ended the day at around $75,770, losing almost 4%, while ethereum dropped to around $2,233. This drop was part of a longer decline: since mid-January, bitcoin has fallen in price by more than 20%. Alexander Schneiderman, Head of Alfa-Forex's Customer Support and Sales department, told Izvestia on February 4.

"Now its price is balancing above an important support zone in the region of $ 73-74 thousand, where it fell a day earlier. Market sentiment has worsened due to problems on traditional US stock markets. Investors are massively selling shares of technology companies, fearing that the development of artificial intelligence could harm their business," he said.

A prime example, according to Schneiderman, was PayPal, whose shares collapsed by almost 19% after weak financial results and a change in management. Due to such events, many people prefer to transfer money to more reliable assets. Thus, the price of gold has increased significantly, approaching the mark of 5 thousand dollars per ounce. Plus, the aggravation of the situation between the United States and Iran.

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However, not all the news was negative. On the same day, it became known that the manufacturing sector of the US economy unexpectedly showed growth, which is usually a good sign for the economy. However, these data were ignored due to more pressing issues: growing geopolitical tensions and concerns that the US central bank would not cut interest rates quickly. Now is a crucial moment for bitcoin: in order to change the situation for the better, it needs to rise confidently above $79.4 thousand, otherwise a further decline is possible.

"In the coming days, it is logical to expect the price of bitcoin to stabilize in the range of $73,000 – $80,000, where large holders can buy off positions. At the same time, on the horizon of this week, the potential growth target while maintaining technical support is $84 thousand," the expert concluded.

According to Binance data from January 31, the cost of bitcoin dropped below the $80 thousand mark. This became a level that the exchange rate of the first cryptocurrency has not touched since the second half of April 2025, according to trading data. This dynamic reflects the continued pressure on the crypto market amid general market uncertainty and a decrease in investor appetite for risky assets.

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