Bitaigen Research 
Bitcoin (BTC) has recently experienced a historic single‑day decline, drawing widespread attention across the market.
Bitcoin’s single‑day drop breached the $10,000 mark for the first time, and models forecast that a recovery above the $93,500 high may not be realistic until the second half of 2028.
In this article we dissect the rare, sharp one‑day sell‑off that Bitcoin suffered, explore the market forces behind it, and combine several forecasting models to evaluate the long‑term recovery path and possible inflection points. Through data visualisations and expert commentary, readers can identify the key signals that may shape future price action. We recommend continuing to read for the full analysis.
Key Takeaways
- Bitcoin saw liquidations totalling $2.6 billion, and for the first time closed the day with a price below $10,000 on a bearish candle.
- Measured in percentage terms, the single‑day decline set a new record since the 2022 bear market.
- Forecasts indicate that 2028 may be the earliest year in which Bitcoin could climb back above $93,500.
Largest Single‑Day USD Decline on Record
TradingView data show that BTC/USD rebounded to $59,930 before entering a consolidation phase, and this is the first time since October 2024 that the price has slipped below the $60,000 threshold.
BTC/USD daily chart. Source: Cointelegraph/TradingView
CoinGlass reported that persistent selling during the U.S. trading session on Thursday triggered $2.6 billion worth of crypto position liquidations within a 24‑hour window.
Crypto liquidations vs. BTC/USD (screenshot). Source: CoinGlass
Industry insiders note that the scale of this liquidation event surpasses the market shocks of the March 2020 COVID‑19 crash ($1.2 billion) and the late‑2022 FTX collapse ($1.5 billion).
“COVID crash: $1.2 billion liquidated.
FTX collapse: $1.5 billion liquidated.
Random Thursday (today): $1.7 billion liquidated.”
— Alex Mason △ (@AlexMasonCrypto) 2026‑02‑05
When measured by percentage drop, Thursday’s candlestick represents the biggest single‑day decline since the FTX implosion, when Bitcoin briefly touched a low of $15,600.
BTC/USD daily percentage change. Source: Joe Consorti/X
“Horizon” Bitcoin equity firm’s growth head Joe Consorti pointed out on X that ETF holders have never witnessed a sell‑off of this magnitude.
Data from the UK investment firm Farside Investors show a net outflow of $434 million on Thursday.
U.S. spot Bitcoin ETF net capital flow (screenshot). Source: Farside Investors
At the same time, BTC/USD set a “new record” by experiencing a single‑day price drop exceeding $10,000 for the first time.
“Yesterday was the highest‑volume Bitcoin trading day since August 2024.”
— Trader Jelle
*Note for U.S. readers: when accessing crypto services, be sure to use Binance.US rather than the global Binance platform. For fiat deposits and withdrawals, USD transfers typically use SEPA (for EUR) or SWIFT corridors, depending on the bank.*
*Tax disclaimer: Cryptocurrency gains may be subject to taxation in your jurisdiction; consult a tax professional for advice.*
Related Reading
- Bitcoin 13% Pullback: Healthy Bull Market Correction
- Bitcoin Oversold vs Gold Signals New Super Bull Market
- Tariff Pause Shifts Capital, Bitcoin Falls, Crypto Outlook
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