Bitcoin's price fell to approximately $60,000 in early February 2026, coinciding with a broader cross-asset deleveraging in financial markets. This decline has sparked speculation about a potential large fund liquidation, with some attributing the selloff to losses from ETF-based volatility strategies or a traditional finance player unwinding cross-asset positions. Despite these theories, industry insiders have found no evidence of a major crypto fund collapse. Current data suggests that macroeconomic pressures and ETF flows, combined with low liquidity, have amplified the market downturn.