BTC & ETH Spiral downward

By Keith Thuerk | New to Crypto's? | 5 Feb 2026

Hoping this is NOT a news flash for anyone in the crypto realm - The Crypto Markets have erased ~$1Trillion in market cap since January 14th, 2026!

While $130,000,000,000 has been wiped out in the crypto market cap in the past 24-hours!!! You scared yet? Asking as Silver performed two six-sigma events in one day last week and a ten-sigma event to follow that. What's next? You feel all that energy?

BTC is already down below a major support level of $69,000 it dropped thru it like a hot knife. It pierced thru $65K too

To put it in perspective BTC is down 24% in 2-days! 20% is a major selloff in equity terms, the last 3 Major BTC sell offs have been around 60%. We are already 1/3 of the way to that level. A rough calculation for that 60% level puts BTC at $56,000 level.

At these prices MSTR has a $6,1000,000,000 unrealized loss on its BTC investment. I don't look for Michael to stop the buy machine! Do you?

You know its impacting everyone when CZ states he is 'poor again'! Yikes

Is the sale of BTC accelerating or just shaking out all those who weren't invited to the game in the first place?

ETH is trading below a critical level of $2,100

ETH is trading just under $1,900 level at the time of this writing, can it find support at $1,800 level or break thru to the $1,400 level?

ETH's drop has been monumental as well as McDonalds market cap now exceeds ETH's.

Summary

How is BTC showing it is a store of value? How is it different this time? Is this one last major sell event before we and I do mean we are locked out as the Institutions sweep in and buy up ALL the BTC and ETH and we can get buy orders executed? Anyone have any opinions to share on what's driving this massive sell event?