Bitcoin price today nosedives to below $75,000, lowest since April 2025 — Why is it falling?

Bitcoin price today: Bitcoin price on Monday, 2 February fell below $75,000 as selloff in the cryptocurrency market accelerated amid an absence of momentum.

As per data from CoinMarketCap, Bitcoin price today was standing at $74,683.63 at around 9:15 am IST. This was the lowest level since April 2025, when trade tensions triggered by the United States sent the cryptocurrency market in a bearish zone.

Since its 2025 peak, Bitcoin prices have fallen about 40%. In January alone, Bitcoin fell around 11%, marking its fourth straight month of losses after an initial nosedive in October 2025. This also marks Bitcoin's longest losing streak since 2018, during the crash that followed the 2017 boom in initial coin offerings.

Along with Bitcin, world's second-largest cryptocurrency Ethereum also faced sharp losses, falling below the key $2,200 levels.

Why is Bitcoin falling today?

The sharp loss in Bitcoin price today comes amid an acceleration in liquidation of crypto assets as an absence of buyers, momentum and belief persisted, according to Bloomberg.

According to Riya Sehgal, research analyst at Delta Exchange, Bitcoin prices extended the sharp correction this week “as over $2 billion in positions were liquidated amid low-liquidity weekend trading.”

Unlike the October drawdown of Bitcoin, this time there’s been no obvious spark, cascading liquidations or systemic shock — just fading demand, thinning liquidity, and a token that’s untethered to broader markets.

The sell-off was amplified by $1.6 billion in net outflows from US spot Bitcoin ETFs in January, “reflecting institutional risk reduction,” Sehgal said.

“Macroeconomic and geopolitical factors deepened the decline. Markets reacted negatively to US President Trump’s nomination of Kevin Warsh as the next Federal Reserve chair, a perceived hawk expected to favor tighter monetary policy,” she noted.

Trump's move fuelled a rally in the US dollar and sell-offs in risk assets, including crypto.

“Simultaneously, geopolitical tensions, reports of an explosion at Iran’s Bandar Abbas port and concerns over possible US–Iran escalation, triggered a broader flight to safety, further weighing on digital assets,” Sehgal said.

Technically, BTC remains below its key resistance at $80K–$82K, with downside targets near $72K–$70K. ETH faces selling pressure below $2,500, risking a retest of $2,000.

“Until macro stability returns and ETF inflows resume, crypto markets are likely to remain defensive. Traders expect choppy consolidation or further downside before a sustainable recovery can begin,” she added.

Bitcoin’s market depth, a measure of capital available to absorb large trades, remains more than 30% below its October peak, according to Kaiko data.