Volatility once again dominated the cryptocurrency market, with bitcoin recording its lowest price since the election of Donald Trump in the Estados Unidos. The sharp pullback reignites concerns among global investors and puts pressure on digital assets in an environment of growing macroeconomic uncertainty.
On the afternoon of February 5, 2026, the world’s main cryptocurrency was experiencing a significant drop, reflecting turbulence that extends across several sectors of the digital economy. The devaluation directly affects companies that adopted bitcoin as part of their treasury strategies, impacting their balance sheets and market confidence.
Esse scenario of uncertainty is exacerbated by multiple factors, including the reassessment of the high valuations of artificial intelligence companies and the persistent doubts about the schedule of cuts in US interest rates, which together, reduce the appetite for higher risk investments.
Devaluation and pressure on crypto companies
Bitcoin suffered a 10.5% drop in value, reaching US$64,917 at 5:14 pm, a level not seen since the period immediately following the presidential election of Donald Trump. Essa devaluation is particularly notable because it wipes out all gains accumulated since that date, a period in which Trump had signaled a more favorable stance towards digital assets, driving initial optimism. The turbulence is not just restricted to the price of digital currency, but radiates to the global stock market, putting strong pressure on companies that base their business models on the possession and potential appreciation of cryptocurrencies. Nos recent years, there has been a considerable increase in the number of publicly traded companies that have incorporated cryptoassets into their reserves, driven by the expectation of continued growth and the perception of greater institutional acceptance of these financial assets.
Factors Drive Market Volatility
The euphoria surrounding the cryptoasset sector, fueled by prospects of high valuation and by political figures such as Donald Trump, who demonstrated support for these assets during his campaign, is beginning to be replaced by widespread caution. The successful trajectory of companies like Strategy, which stood out by accumulating bitcoins in its treasury since 2020, has inspired many to follow a similar path, betting on the longevity and growth of the ecosystem.
However, this optimism has been drastically shaken. Preocupações Increasing high valuations of companies in the artificial intelligence sector, which have dominated investor attention and directed large volumes of capital, contribute to the diversion of resources from other segments considered to be at greater risk, such as cryptocurrencies.
Uncertainty also prevails in relation to the monetary policy of the Estados Unidos. The path of interest rate cuts through the Federal Reserve remains cloudy, with mixed signs from the economy. Essa uncertainty generates an environment of risk aversion, which directly impacts more volatile and speculative assets, such as bitcoin, making them less attractive to investors in search of security.
Esse complex set of factors pushed bitcoin to its lowest level since November 2024, triggering a series of negative swings and considerable instability for many digital asset treasury companies, known by the English acronym “DATs”, which now face operational and valuation challenges.
Company performance in the current scenario
Strategy, one of the most iconic names among bitcoin buyers, saw its shares plummet from US$457 in July to US$111.27 on the day of the news, reaching its lowest value since August 2024. Essa significant drop demonstrates the strong and intrinsic correlation between the performance of bitcoin and the market valuation of these companies. The volatility of digital asset prices directly translates into the company’s perception of value and the mood of shareholders, who react quickly to any change in the cryptocurrency landscape.
The previous December, Strategy had already drastically revised its profit projections for 2025, citing the weak performance of bitcoin as the main driver. The company had projected a net profit of between US$6.3 billion and a loss of US$5.5 billion, a significant change from the initial profit forecast of US$24 billion. Além In addition, the company announced plans to create a specific reserve aimed at ensuring the payment of dividends, signaling a strategic attempt to stabilize investor confidence and mitigate the perception of risk amid the adverse market scenario.
Other companies feel the global pressure
The wave of devaluation in the cryptocurrency market did not spare other companies that have significant exposure to bitcoin and other digital assets. Britain’s Smarter Web Company, another notorious bitcoin investor, saw its shares drop nearly 18% on the same day, reflecting the broad extent of the impact on the European technology and finance market.
Compradoras bitcoin rivals, such as Nakamoto and Japan’s Metaplanet, also suffered considerable losses, falling almost 9% and 7%, respectively, highlighting a global downward trend. In the Brazilian market, Méliuz registered a decline of 4.5%, being traded at R$3.41, while OrangeBTC had a devaluation of 5%, closing at R$6.47, showing that the seizure spread across different geographies.
Capitulation scenario and market cycles
The continuous fall of bitcoin, which has accumulated almost 20% devaluation since the beginning of the year, has intensified selling pressure, fueling a cycle of distrust. Esse movement was aggravated following the appointment of Kevin Warsh as the next president of
Nic Puckrin, renowned investment analyst and co-founder of the Coin Bureau platform, assesses that the cryptocurrency market has reached a “total capitulation mode”, as bitcoin breaks the psychological barrier of US$70,000. Segundo Puckrin, the current situation goes far beyond a simple short-term correction, indicating a deeper change in market dynamics.
Ele compares the current momentum to previous bear cycles, suggesting the market is in a transition phase that “generally takes months, not weeks.” Essa outlook indicates a prolonged period of instability and adjustment for digital assets, requiring patience and reevaluation of strategies on the part of investors.
Strategies and challenges for raising capital
Enquanto more robust institutional investors with large volumes of capital have the ability to acquire tokens directly in the market, digital asset treasury companies (DATs) offer an important alternative. Elas allow more cautious investors with less expertise in the crypto universe to gain exposure to cryptocurrencies through public and regulated vehicles, taking advantage of the opportunity to leverage returns without the need for direct and complex management of tokens. Contudo, this structure is intrinsically sensitive to market fluctuations, which proves challenging in downturns.
Sustained pressure on DAT shares, evidenced by recent declines, poses a serious challenge to their ability to raise additional capital in the market. Obtaining new resources is crucial for these companies, as it allows them to purchase more tokens and thus sustain the core of their business model, which depends on the appreciation of these assets. Muitos executives from these companies emphasize that future success will be intrinsically linked to their ability to make astute investment decisions and innovate in the search for value for shareholders, adopting diversified strategies to face volatility.
Expansion of impact to other tokens
The turbulence observed in the cryptocurrency market was not limited to bitcoin, extending across the entire digital asset ecosystem. Empresas who hold other digital tokens in their wallets also recorded significant losses, highlighting a widespread aversion to risk. Alt5 Sigma, for example, which the previous year had announced the accumulation of the WLFI token, associated with the Trump family, fell by 8.4%. Similarmente, SharpLink Gaming, with exposure to ether, fell 8%, while Forward Industries, holder of solana, lost almost 6%, demonstrating the extent of risk aversion in the sector and the interconnection between different digital assets.
