Bitcoin’s value took a steep dive below the $67,000 mark today, sparking a lighthearted reaction from Changpeng Zhao (CZ), the founder of Binance.
In a playful tone, CZ remarked that he was “poor again,” recalling his last similar comment when Bitcoin fell from $67,000 down to around $30,000. He reassured followers by noting that things eventually turned out well for Bitcoin, hinting at the significant bull run that followed.
Poor again. 😂
(last time I posted this was when bitcoin dropped from $67k to $30k ish. Did alright in the end.) https://t.co/8NIzNllVS2
— CZ 🔶 BNB (@cz_binance) February 5, 2026
The cryptocurrency market experienced intensified selling pressure as weekly losses accelerated sharply. Bitcoin slipped below $67,000 with a daily drop exceeding 9%, impacting many investors who had purchased during the recent upswing. This downturn is now challenging both Wall Street’s renewed optimism about crypto and testing the resolve of new retail investors who entered near peak prices.
A major factor behind these drastic price swings is forced liquidation of leveraged positions. Data from Coinglass reveals that over three billion dollars worth of liquidations have taken place in Bitcoin trading over the past eight days alone. As of this morning, more than 59,000 traders worldwide faced liquidations totaling an additional $730 million in forced sales. Analysts at Glassnode describe this phase as one of “forced delegitimization” within futures markets where large-scale long position liquidations are amplifying volatility and driving prices downward.
Despite persistent selling activity, there has yet to be a strong influx of buyers supporting price stability. Many prominent buyers who fueled last year’s rally have stepped back while inflows from ETFs and corporate earnings reports have slowed considerably. According to Glassnode insights, this lack of consistent buying power removes what was previously considered stable support during upward trends.
This content does not constitute financial advice.