On February 5, 2026, BlackRock’s iShares Bitcoin Trust (IBIT) recorded an unprecedented $10 billion in daily trading volume, smashing its previous record of $8 billion set on November 21, 2025. Bloomberg analyst Eric Balchunas on X. This surge occurred as Bitcoin (BTC) suffered one of its worst intraday drops, plunging nearly 15% from $73,100 to $62,400, marking the first time below $70,000 in 15 months. The Block. Balchunas described it as “brutal,” with IBIT’s price falling 13%, its second-worst daily drop since launch. SoSoValue data.
High volume during a steep decline signals intense selling pressure, likely from profit-taking, leveraged liquidations, and institutional rebalancing. IBIT typically sees $2–3 billion on busy days, making $10 billion exceptional amid BTC’s retreat below Strategy’s $76,000 average cost, flipping $31 billion pa. gains to $9.2 billion, unrealized losses. SaylorTracker. The total crypto market cap dropped from $3 trillion to $2.16 trillion, with XRP down 25% and TRON faring best at -4% among the top 50 coins. This reflects broader panic, amplified by Strategy’s $12.6 billion Q4 loss.
Spot Bitcoin ETFs faced outflows after July’s record inflows, with IBIT’s volume spike indicating forced selling rather than new buying. Ethereum ETFs mirrored the trend. BlackRock’s dominance ($89.11B AUM) underscores IBIT’s role as a liquidity proxy. Still, the 13% price drop highlights risks in leveraged treasury strategies. X posts from @EricBalchunas note IBIT’s resilience in volume despite the crash. Regulatory clarity from Paul Atkins’ SEC may stabilize sentiment, but rate cut delays loom.
BTC’s break below $70,000 risks testing $60,000 support if selling persists. Techopedia, but $10B IBIT volume suggests capitulation nearing an end. Investors should watch ETF flows on SoSoValue and BTC recovery above $70,000. Dollar-cost average with stop-losses below $62,000, or rotate to stablecoins like USDC. TradingView. Follow @TheBlock__ on X for updates. IBIT’s record volume amid turmoil highlights Bitcoin’s maturing liquidity, but volatility demands caution in early 2026.
