Bitcoin value is lifeless. Once more. A minimum of that’s what the enduring Rainbow Chart is signaling as
6.59%
drifts close to $72,000 in early February 2026, beneath its latest peak of $78,725.
Crypto Twitter sentiment now rivals the despair seen after the FTX collapse in 2022, with many arguing this halving cycle has already failed.
The rainbow chart has been getting bent increasingly more every year. If we have been nonetheless utilizing the OG chart from 2016 the value could be miles beneath the precise rainbow; it initially had BTC into the $1,000,000+ vary by now.
Thanks, rainbowman, I collected heaps above 100k as a result of this chart informed me to. Now what? They need to put up a rainbow touching the Earth.
The Rainbow Chart tracks Bitcoin in opposition to emotional bands from “Bitcoin is lifeless” to “Bubble territory.” The chart has logged 457 Bitcoin obituaries since 2010. It’s not predictive, it’s psychological. Purple and blue imply capitulation. Orange and pink imply mania.
Listed below are the 2 different components why many say this bear market is barely getting began:
DISCOVER: 20+ Subsequent Crypto to Explode in 2026
1. Readability Act Emergency Talks Collapse With Accusations In opposition to Trump and the UAE
Crypto coverage simply turned a prison investigation.
New York Senator Chris Murphy accused Trump of “doubtlessly prison conduct” with the UAE pouring cash into Trump household crypto ventures through World Liberty Monetary, then overseeing instant approval of crypto laws.
Based on reporting by The Wall Road Journal, roughly $187 Mn was directed to Trump household entities and one other $31 Mn to the household of particular envoy Steve Witkoff.
Murphy cited a $500 Mn transaction by which UAE-backed Aryam Funding acquired 49% of World Liberty Monetary 4 days earlier than Trump took workplace, framing the sequence as a textbook quid professional quo.
“That’s corruption. These are the weather of a bribe. That is doubtlessly prison conduct.” -Chris Murphy, U.S. Senator, Senate Ground Remarks
Crypto Twitter is debating if the democrats don’t hate crypto greater than Trump; he’s simply attempting to money in on it so long as he can. He was by no means actually professional crypto.
The accusations surfaced because the White Home hosted a closed-door crypto summit with Ripple, Coinbase, Kraken, Tether, and Circle, making an attempt to hammer out stablecoin yield provisions tied to the CLARITY Act.
No settlement was reached, however a February deadline now looms.
DISCOVER: High 20 Crypto to Purchase in 2026
2. Are The Bears Proper? Crypto Supercyclists Down Laborious in 2026
Some merchants see extra draw back. Crypto dealer Rektmando argues Bitcoin lacks structural help till the mid-to-low $60,000 vary, with others pointing to $67,000 as a doable cycle flooring.
Strain shouldn’t be remoted to Bitcoin. Ethereum has fallen sharply from above $3,000, with a big leveraged place reportedly dealing with liquidation close to $1,800.
Veteran investor Michael Burry added gasoline by sharing a logarithmic Bitcoin chart suggesting a topping sample much like prior cycle peaks.
$BTC Patterns pic.twitter.com/Ax595mNXrD
— Cassandra Unchained (@michaeljburry) February 4, 2026
DISCOVER: Subsequent 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2026
Noah’s Ark-Kind Washout Coming? What the Knowledge Really Says
Bitcoin dropped 17.5% to twenty% year-to-date by early February 2026—from $87,500 to the low $70,000s. Rising Treasury yields crushed danger belongings throughout the board.
In the meantime, supercyclists like Raoul Pal, Arthur Hayes, and Tom Lee hold calling for brand spanking new all-time highs even after they’ve been lifeless fallacious. The $67,000-$70,000 zone is crucial. Break beneath that and $60,000 comes quick.
Till the hopium dies, the autumn continues. Simply keep in mind, after the flood is the rainbow.
EXPLORE: Ethereum Is Dying, Or Is This the Largest Purchase Sign of the Decade?
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Key Takeaways
Bitcoin value is lifeless. Once more. A minimum of that’s what the enduring Rainbow Chart is signaling as the value spirals round $72K
In the meantime, supercyclists like Raoul Pal, Arthur Hayes, and Tom Lee hold calling for brand spanking new all-time highs even after they’ve been lifeless fallacious.
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