$BTC the game of Jenga.
If we consider the market structure like a tower, each block represents liquidity, investor trust, or leverage.
When investors begin to pull out "liquidity blocks" (such as outflows from ETFs), the entire structure becomes unstable.
The situation with BTC on February 5, 2026, looked like this:
The foundation of the tower: This was price support at the level of $70,000.
Pulling blocks: Institutional players began to withdraw their capital (ETF outflows).
Critical point: When too many "blocks" were pulled out (positions liquidated at $332 million), the center of gravity shifted, and the entire structure collapsed to the level of $64,000.
In trading, the one who loses is the one on whose move the system loses balance.
Two pressure factors on the market:
1. Nomination of the Managing Board of the Fed to the position of chair of the U.S. Federal Reserve - strict monetary policy.
2. Exhaustion of the "Trump effect" - the market moved to the "sell on the news" stage.
