Wall Street Breakfast Crypto crash continues
12 snips
Feb 5, 2026 Coverage of a steep Bitcoin sell-off and the crypto market losing over $1 trillion. Debate over whether Bitcoin could collapse to zero. News of Hims & Hers offering cheaper compounded Wegovy. Rising jobless claims and a sharp drop in job openings paint a softer labor picture. Spotify begins selling physical books through a new partnership.
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Crypto Market Faces Rapid Deleveraging
- Bitcoin has fallen below $70,000 and is approaching $65,000 amid a broad risk-off move.
- The crypto market lost over $1 trillion since Jan 14, signaling deep, rapid de-risking.
Bitcoin Behaves Like Speculative Tech Asset
- Some strategists argue Bitcoin trades like a speculative Nasdaq-correlated asset rather than a dollar hedge.
- Richard Farr and others suggest structural issues, including concentrated float control, weaken its reserve-asset case.
Telehealth Plans Cheaper Compounded Wegovy
- HIMSS & HERS Health is surging on a report it will offer a compounded Wegovy alternative at a $49 introductory price.
- The price point is about $100 less than the brand-name drug, driving investor interest.