Bitcoin Slides Below $73K as Mining Stocks Sink in Double-Digit Selloff

Market Overview - Bitcoin fell below $73,000 on February 4, 2026, marking a significant decline from its all-time high of over $125,500 in October 2025, representing a roughly 40% drop in four months [2][7] - Large holders sold more than 50,000 BTC in the past two weeks, contributing to persistent selling pressure despite retail investors attempting to buy the dip [2] Mining Sector Impact - Bitcoin mining companies experienced severe losses, with stocks like Marathon Digital Holdings trading around $8.09 and Riot Platforms at approximately $13.52, both reflecting drops of over 10% in a single session [3] - Mining profitability has reached a 14-month low due to declining Bitcoin prices and increased network difficulty, leading to a decrease in the hashrate on the Bitcoin network [4][7] Broader Crypto Market Effects - Other companies exposed to cryptocurrency, such as Strategy (formerly MicroStrategy), also faced challenges, with MSTR stock hitting a 52-week low and unrealized gains on its Bitcoin treasury falling below 10% [5] - The decline in Bitcoin prices coincided with a broader selloff in tech stocks, particularly affecting software companies, which has historically correlated with Bitcoin's performance [6] Future Outlook - The ongoing pressure on Bitcoin prices and mining profits suggests that the mining sector will continue to face challenges until there is an adjustment in network difficulty or stabilization of prices above profitable levels for operators [7]