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BTC Price News: Bitcoin Spirals Toward $60,000, Headed for Worst Drawdown Since FTX Crash

Bitcoin's 10% drop marks its steepest one-day decline since the FTX collapse, with prices nearing the key $60,000 support level tied to its average holder cost.

Summary by Coin Desk
Analyst points to the 200-day moving average — currently around $58,000 to $60,000 — as a potential support level to watch.
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Bitcoin drops to $60,000 in flash crashes, losing 17% in 24 hours, in one of the worst sessions since FTX's bankruptcy in 2022. More than $2.7 billion of liquidations hit mostly long positions, while the Fear & Greed index drops to 5 its record low point, signaling extreme capitulation. The drop is spreading to altcoins, cryptic shares and global markets, confirming a general shift towards defensive logic.The capitulation accelerated abruptly Th…

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DiarioBitcoin broke the news in on Thursday, February 5, 2026.
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