{"id":989,"date":"2026-02-05T20:44:24","date_gmt":"2026-02-05T20:44:24","guid":{"rendered":"https:\/\/www.sterlingcooper.info\/blog\/?p=989"},"modified":"2026-02-05T20:44:24","modified_gmt":"2026-02-05T20:44:24","slug":"crypto-currencies-have-no-value-and-finally-dummy-investors-are-finding-out-the-hard-way","status":"publish","type":"post","link":"https:\/\/www.sterlingcooper.info\/blog\/crypto-currencies-have-no-value-and-finally-dummy-investors-are-finding-out-the-hard-way\/","title":{"rendered":"CRYPTO CURRENCIES HAVE NO VALUE, AND FINALLY DUMMY INVESTORS ARE FINDING OUT THE HARD WAY"},"content":{"rendered":"<div class=\"PageBuilder-containerWidth100 PageBuilder-pageRow\">\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div id=\"RegularArticle-ArticleHeader-2\" data-test=\"articleHeader-0\" data-analytics=\"RegularArticle-articleHeader-2-0\">\n<header id=\"main-article-header\" class=\"ArticleHeader-articleHeader\">\n<div class=\"ArticleHeader-headerContentContainer\">\n<div class=\"ArticleHeader-wrapperHeroNoImage ArticleHeader-wrapperHero ArticleHeader-wrapper ArticleHeader-wrapperNoImage\">\n<div>\n<h1 class=\"ArticleHeader-headline\">Bitcoin drops below $67,000 as sell-off intensifies and pessimism grows about crypto\u2019s function<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-containerFluidWidths PageBuilder-pageRow\">\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div id=\"RegularArticle-KeyPoints-4\" class=\"RenderKeyPoints-keyPoints\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-header\">WE WERE INTRIGUED HOW MANY &#8220;INVESTORS&#8221; thought that buying and paying for AIR was a great deal!<\/div>\n<div><\/div>\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>It\u2019s the first time bitcoin has fallen below $67,000 since November 2024.<\/li>\n<li>Some analysts said $70,000 was the key level to watch and a convincing break below there could lead the token to suffer even greater losses.<\/li>\n<li>The latest downturn comes as investor confidence in bitcoin\u2019s utility as a store of value, inflation hedge and digital currency falters.<\/li>\n<li>\u201cIf we fail to hold it, a move toward\u201d the $60,000 to $65,000 range \u201cbecomes quite likely,\u201d said James Butterfill, head of research at Coinshares.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"RegularArticle-ArticleBody-5\" class=\"ArticleBody-articleBody\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div id=\"ArticleBody-InlineImage-108229962\" class=\"InlineImage-imageEmbed\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\">\n<div>\n<div class=\"InlineImage-imageContainer\" tabindex=\"-1\" data-test=\"InlineImage-pictureContainer\"><picture data-test=\"Picture\"><img decoding=\"async\" class=\"\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108229962-1763739028767-gettyimages-2247743577-img_6811.jpeg?v=1770289365&amp;w=1858&amp;h=1045&amp;vtcrop=y\" alt=\"CHONGQING, CHINA  NOVEMBER 21: In this photo illustration, two gold-colored Bitcoin tokens are placed on a screen displaying a declining cryptocurrency price chart on November 21, 2025, in Chongqing, China. Bitcoin has recently dropped below the mid-US$80,000 level, extending a multi-day sell-off driven by rising interest-rate expectations, weakening market structure, and renewed movement of long-dormant supply. (Photo illustration by Cheng Xin\/Getty Images)\" \/><\/picture><\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\"><\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Cheng Xin | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span id=\"RegularArticle-QuoteInBody-1\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CM=\/\">Bitcoin<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><\/span><\/span> sank below $67,000 on Thursday as investor confidence continued to falter in the asset once hailed as \u201cdigital gold\u201d and a unique store of value. \u2014<\/p>\n<p>Digital assets, including bitcoin, have fallen deeper into the red as investors re-assess the practical utility of a token that has been championed not only as a hedge against inflation and macroeconomic uncertainties but also as an alternative to fiat currencies and traditional safe-havens such as gold.<\/p>\n<div class=\"BoxInline-container  \">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">\n<div id=\"div-gpt-boxinline-2123156984\" class=\"mps-slot\" data-mps-slot=\"boxinline\" data-mps-loadset=\"0\"><\/div>\n<\/div>\n<\/div>\n<p>That hasn\u2019t panned out lately, since bitcoin peaked just north of $126,000 in early October.<\/p>\n<p>On Thursday, bitcoin was last down to $67,675, its lowest since since November 2024. The cryptocurrency broke below $70,000 earlier in the session Thursday and then the selling increased. The cryptocurrency is down 20% this week alone.<\/p>\n<\/div>\n<div class=\"group\">\n<p>This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing,\u201d Deutsche Bank analyst Marion Laboure said Wednesday in a note to clients.<\/p>\n<p>Growing investor caution comes as many of the sensationalized claims about bitcoin have failed to materialize. The token has largely traded in the same direction as other risk-on assets, such as stocks, particularly during recent geopolitical and macroeconomic flare ups in Venezuela, the Middle East and Europe, and its adoption as a form of payment for goods and services has been minimal.<\/p>\n<h3 class=\"ArticleBody-smallSubtitle\">Bitcoin underperforming gold<\/h3>\n<p>Bitcoin is down nearly 30% over the past year, while gold has surged 68% in the same period..WHY IS IT NOW DOWN TO ZERO!!!?????<\/p>\n<div class=\"MidResponsive-midResponsiveContainer\">\n<div id=\"MidResponsive-1\" class=\"\" data-module=\"mps-slot\"><\/div>\n<\/div>\n<p>Other cryptocurrencies are cratering too. Ether has pulled back 23% this week, on track for its worst week since November 2022, when it slumped 24%. Solana hit $88.42 on Thursday, about a two-year low and off 24% on the week.<\/p>\n<p>Some traders have suggested <a href=\"https:\/\/www.cnbc.com\/2026\/02\/04\/crypto-winter-how-long-it-will-last-and-the-next-downside-bitcoin-level-to-watch.html\">$70,000 is a key level<\/a> to watch and a break below that could trigger further declines for bitcoin.<\/p>\n<p>James Butterfill, head of research at Coinshares, said $70,000 is shaping up as a \u201ckey psychological level,\u201d adding that \u201cif we fail to hold it, a move toward\u201d the $60,000 to $65,000 range \u201cbecomes quite likely.\u201d<\/p>\n<\/div>\n<div>\n<div class=\"InteractiveChart-caption\">The price of bitcoin over the last year.<\/div>\n<\/div>\n<div class=\"group\">\n<p>The latest move in bitcoin comes amid a <a href=\"https:\/\/www.cnbc.com\/2026\/02\/03\/stock-market-today-live-updates.html\">worsening sell-off in U.S. tech stocks<\/a>. The <span id=\"RegularArticle-QuoteInBody-4\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/XLK\/\">State Street Technology Select Sector SPDR ETF<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><\/span><\/span> dropped 2.8% Wednesday, one day after losing 2.2%.<\/p>\n<p>Meanwhile, precious metals <a href=\"https:\/\/www.cnbc.com\/2026\/02\/05\/silver-resumes-its-slide-plunging-12percent-after-short-lived-rebound.html\">continue to be volatile too, w<\/a>ith silver plunging again on Thursday and gold under pressure.<\/p>\n<p>Forced liquidations \u2014 when traders\u2019 positions are automatically sold as bitcoin hits a set price \u2014 continue to weigh on markets. As of Thursday, more than $2 billion in long and short positions in cryptocurrencies have been liquidated this week, according to data from Coinglass.<\/p>\n<p>Bitcoin has been on a steady decline for more than three months, and is now more than 45% below its October high. Other cryptocurrencies, including <span id=\"RegularArticle-QuoteInBody-6\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ETH.CM=\/\">ether<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><\/span><\/span> and <span id=\"RegularArticle-QuoteInBody-7\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/XRP.CM=\/\">XRP<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><\/span><\/span>, have fallen even more.<\/p>\n<p>\u201d[The] straight line bull run that a lot of people expected hasn\u2019t really materialized yet. Bitcoin isn\u2019t trading on hype anymore, the story has lost a bit of that plot, it is trading on pure liquidity and capital flows,\u201d Maja Vujinovic, CEO of digital assets at FG Nexus, told CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/worldwide-exchange\/\">Worldwide Exchange<\/a>.\u201d<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108261506\">\n<div id=\"Placeholder-ArticleBody-Video-108261506\" class=\"PlaceHolder-wrapper\" tabindex=\"0\" role=\"button\" data-vilynx-id=\"7000402884\" data-test=\"VideoPlaceHolder\">\n<div id=\"InlineVideo-0\" class=\"InlineVideo-videoEmbed\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108261507-17702319001770231898-43849904436-1080pnbcnews.jpg?v=1770231900&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Downside crypto volatility will persist as liquidations, falling equities hit sector: Citi's Saunders\" \/><\/p>\n<div class=\"undefined PlayButton-container\" data-test=\"PlayButton\">\n<div class=\"PlayButton-featured PlayButton-base\" data-type=\"play\"><span class=\"PlayButton-suppressFlyout PlayButton-flyout\">watch now<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"InlineVideo-videoFooter\">\n<div class=\"InlineVideo-videoDurationContainer\"><span class=\"InlineVideo-videoLabel\">VIDEO<\/span><span class=\"InlineVideo-videoDuration InlineVideo-videoLabel\">03:22<\/span><\/div>\n<div class=\"InlineVideo-title\">Downside crypto volatility will persist as liquidations, falling equities hit sector: Citi\u2019s Saunders<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"PlaceHolder-endCard PlaceHolder-inactive \"><\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<h3 class=\"ArticleBody-smallSubtitle\">Institutional demand reverses<\/h3>\n<p>While many in the crypto market have previously credited large institutional investors with supporting the price of bitcoin, now it is those same participants who appear to be selling.<\/p>\n<p>\u201cInstitutional demand has reversed materially,\u201d CryptoQuant said in a report on Wednesday.<\/p>\n<p>U.S. exchange-traded funds, which purchased 46,000 bitcoin this time last year, are net sellers in 2026, CryptoQuant said.<\/p>\n<p>The report notes other worrying signs. \u201cBitcoin has broken below its 365-day moving average for the first time since March 2022 and has declined 23% in the 83 days since the breakdown \u2014 worse than the early 2022 bear phase,\u201d CryptoQuant analysts said.<\/p>\n<p>A moving average tracks the price of an asset over a set number of periods, smoothing out short-term price fluctuations to identify trends.<\/p>\n<p>The latest leg lower in bitcoin suggests \u201cpotential downside toward the $70K\u2013$60K range,\u201d CryptoQuant said.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"SidebarArticle-sidebar PageBuilder-sidebar\" data-test=\"SidebarArticle\">\n<div class=\"SidebarArticle-noSticky\">\n<div><\/div>\n<div><\/div>\n<div>\n<div class=\"BoxRail-container-right BoxRail-ad\" data-test=\"adFlexBox-2\" data-analytics=\"RegularArticle-adFlexBox-9-2\">\n<div id=\"dart_wrapper_boxrail_9\" class=\"BoxRail-container\" data-module=\"mps-slot\">\n<div id=\"div-gpt-boxrail-2123156984\" class=\"mps-slot\" data-mps-slot=\"boxrail\" data-mps-loadset=\"0\"><iframe id=\"google_ads_iframe_\/2620,5727661\/nbcu.cnbc\/markets_2\" width=\"0\" height=\"0\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin drops below $67,000 as sell-off intensifies and pessimism grows about crypto\u2019s function WE WERE INTRIGUED HOW MANY &#8220;INVESTORS&#8221; thought that buying and paying for AIR was a great deal! It\u2019s the first time bitcoin has fallen below $67,000 since November 2024. Some analysts said $70,000 was the key level to watch and a convincing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"class_list":["post-989","post","type-post","status-publish","format-standard","hentry","category-crypo-scemes"],"_links":{"self":[{"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/posts\/989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/comments?post=989"}],"version-history":[{"count":1,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/posts\/989\/revisions"}],"predecessor-version":[{"id":990,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/posts\/989\/revisions\/990"}],"wp:attachment":[{"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/media?parent=989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/categories?post=989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sterlingcooper.info\/blog\/wp-json\/wp\/v2\/tags?post=989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}