Bitcoin Hits 15-Month Low, Wiping Out Billions in Value

Watch on YouTube ↗  |  February 04, 2026 at 20:02  |  1:17  |  Bloomberg Markets
Speakers
Norah Mulinda — Market Reporter, Bloomberg

Summary

Bloomberg's Norah Mulinda reports that Bitcoin hit its lowest level since 2024 as a broad crypto selloff wiped roughly half a trillion dollars in a week. The decline has intensified doubts about Bitcoin's safe-haven status amid geopolitical risks, while comments from Michael Barr and Treasury Secretary Scott Bessent signaled no Treasury support. Money is leaving the crypto sector more broadly.

  • Bitcoin fell to its lowest level since 2024, trading around $73,000 and down 3%.
  • The crypto market lost roughly half a trillion dollars in a week, according to Norah Mulinda.
  • The selloff is raising doubts about whether Bitcoin is a true safe haven amid geopolitical risks.
  • Michael Barr's comments added caution to the crypto market.
  • Treasury Secretary Scott Bessent said Bitcoin will not get help from Treasury.
  • Money is flowing out of the broader cryptocurrency sector.
  • The host noted an exchange with Congressman Brad Sherman.
Ideas
Norah Mulinda Market Reporter, Bloomberg 0:14
Bitcoin lacks safe-haven support now.
Norah Mulinda reports that Bitcoin hit its lowest level since 2024 and the broader crypto market lost roughly half a trillion dollars in a week. She says the plunge is underscoring doubts about whether Bitcoin is actually a safe haven, especially with geopolitical risks, while Michael Barr threw cold water on the narrative and Treasury Secretary Scott Bessent said Bitcoin will not get help from Treasury. She adds that money is leaving the sector more broadly, making Bitcoin and crypto unattractive to own near term.
BTC Cryptocurrencies MED
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This Bloomberg Markets video, published February 04, 2026, features Norah Mulinda discussing BTC, Cryptocurrencies. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Norah Mulinda  · Tickers: BTC, Cryptocurrencies