Bitcoin Crashed JPMorgan Sees Long-Term Upside vs Gold | US Crypto News

Welcome to the US Crypto News Morning Briefingyour essential rundown of the most important developments in crypto for the day ahead. Grab a coffee and settle in the markets been on a rollercoaster lately. Bitcoin is moving, stocks are shifting, and headlines are coming fast. While some investors are hitting pause, others are watching closely, trying to read the signals beneath the noise. Crypto News of the Day: Bitcoin Slides Below $68,000 Amid Forced Deleveraging Bitcoin fell below $70,000 on Thursday, before extending a leg down to levels below $68,000, an area last tested on October 28, 2024. The move came as intensified selling swept across crypto markets. Crypto Market Sell-Off. Source: CoinGecko The decline marks roughly a 45% drop from October highs, fueled by ETF outflows, fading demand, and a forced deleveraging phase in futures markets. with demand fading, ETF inflows drying up, and futures markets entering a forced deleveraging phase. Analysts say weak volumes and sustained selling are prompting investors to exit at a loss, despite technical indicators signaling oversold conditions, wrote Walter Deaton. Weak volumes and sustained selling pressure have prompted many investors to exit positions at a loss, even as technical indicators signal oversold conditions. Despite the short-term turbulence, JPMorgan is increasingly bullish on Bitcoins long-term potential relative to gold. The bank highlighted that BTC is now trading well below its estimated production cost of $87,000, a level historically considered a soft floor, and that its volatility relative to gold has dropped to record lows. large outperformance of gold vs. Bitcoin since last October, coupled with the sharp rise in gold volatility, has left Bitcoin looking even more attractive compared to gold over the long term, MarketWatch reported, citing JPMorgans quantitative strategist Nikolaos Panigirtzoglou. According to the bank, this improved risk-adjusted profile suggests significant upside for investors willing to hold over a multi-year horizon. JPMORGAN: BITCOIN NOW MORE ATTRACTIVE THAN GOLD LONG TERMJPMorgan says Bitcoins long-term appeal versus gold has improved after golds strong outperformance and rising volatility.Despite recent crypto weakness, liquidations have been modest, though spot Bitcoin ETFs continue *Walter Bloomberg (@DeItaone) February 5, 2026 Market stress metrics highlight the fragility of the current environment. Glassnode data shows that Bitcoins capitulation metric has recorded its second-largest spike in two years. This reflects sharp forced selling and accelerated de-risking by market participants. Bitcoin Capitulation Metric and Price. Source: Glassnode Meanwhile, it is worth noting that Bitcoin has erased all gains since Donald Trump won the election, wiping out a 78% post-election rally and highlighting ongoing volatility. BREAKING: Bitcoin has erased the entire gain it made since Trump won the election.BTC pumped 78% after Trump became president and is now back at the same level as November 2024. pic.twitter.com/frImUtXiZ8 Bull Theory (@BullTheoryio) February 5, 2026 Crypto Stocks Tumble Amid Bitcoin Sell-Off and Rising Economic Uncertainty Crypto equities mirror the broader weakness in Bitcoin. Shares of Coinbase, Riot, Marathon, and Strategy fell between 5% and 7% premarket after the drop below $70,000, with ETF holdings also down more than 5%. CRYPTO STOCKS SLIDE AS BITCOIN BREAKS $70,000Crypto-related stocks fell sharply premarket after Bitcoin dropped 4.3% to about $69,456, its lowest level since November 2024. Bitcoin is now down nearly 8% this week and about 20% year-to-date.The selloff intensified after Donald *Walter Bloomberg (@DeItaone) February 5, 2026 The crypto downturn comes amid broader macroeconomic headwinds. US January layoffs surged 205% year-over-year to 108,435, the highest January total since 2009, according to Challenger, Gray Christmas. Job cuts were concentrated in transportation led by UPS and tech, with Amazon announcing 16,000 layoffs. Healthcare also saw notable reductions. Meanwhile, federal job protections were overhauled, with the Trump administration finalizing reforms affecting 50,000 civil service workers. Continuing claims remain elevated at 1.84 million, highlighting ongoing economic uncertainty. JUST IN: US initial jobless claims for the week ending Jan. 31 came in at 231K (est. 212K, prev. 209K). pic.twitter.com/TnZbIadey8 BeInCrypto (@beincrypto) February 5, 2026 Equity markets are also witnessing a similarly complex backdrop, with the BMO Capital Markets projecting the SP 500 could reach 7,380 by the end of 2026, implying an 8% expected return. The firm favors cyclical sectors such as industrials, materials, energy, and financials, while underweighting defensive sectors. Inflation remains a principal risk, though global monetary and fiscal stimulus provide support. With all these in mind, Bitcoin and broader financial market investors face a delicate balancing act: Technical oversold conditions and low relative volatility suggest a long-term opportunity Yet, immediate pressures from leveraged positions, ETF outflows, and macro uncertainty continue to weigh on sentiment. JPMorgans analysis points to potential gains for patient holders, but the short-term outlook remains volatile, reflecting a market in the midst of recalibration. Chart of the Day Bitcoin Price Performance. Source: TradingView Byte-Sized Alpha Heres a summary of more US crypto news to follow today: Ethereum lending hits $28 billion after Aave proves DeFis crisis shield in weekend crash. Solana price nears $90, but long-term buyers are still accumulating. Congress asks if the Treasury will bail out BitcoinBizarre exchange highlights cryptos federal immunity. XRP treasury firm Evernorth sits on $380 million loss as price struggles. Bitcoin slips below $70,000 support, risk of 37% drop emerges. Ethereum network activity has peaked, but that doesnt necessarily signal a bullish trend. Tether surpasses 500 million users as growth acceleratesbut risks and peg concerns persist. Crypto Equities Pre-Market Overview CompanyClose As of February 4Pre-Market OverviewStrategy (MSTR)$129.09$120.78 (-6.58%)Coinbase (COIN)$168.62$159.42 (-5.46%)Galaxy Digital Holdings (GLXY)$20.16$19.10 (-5.26%)MARA Holdings (MARA)$8.28$7.81 (-5.68%)Riot Platforms (RIOT)$14.14$13.36 (-5.51%)Core Scientific (CORZ)$16.15$15.50 (-4.02%)Crypto equities market open race:GoogleFinance Read the article at BeInCrypto