Stock Market Live February 5, 2026: S&P (SPY) Swimming in Red
Live Updates
Bitcoin Now Below $67,200 – and Plummeting
Bitcoin now trades at less than $67,200 and is getting destroyed.
In fact, it last traded at $67,129 – which is great news for traders that are short related stocks, such as Robinhood (HOOD) and Strategy (MSTR), which just saw its price target by analysts at Canaccord. Both have become falling knives and could drop even more.
Until Bitcoin shows some signs of bottoming out – which may not happen any time soon – both of those stocks are solid short opportunities. More bearish forecasts see Bitcoin falling below $60,000, with extreme downside scenarios pointing to levels near $30,000.
Goldman Sachs Reiterates Buy on Nvidia
Analysts at Goldman Sachs just reiterated a buy rating on Nvidia ahead of earnings this month. According to the firm, “We expect investors to focus on (1) directional commentary on visibility into 2027; (2) non-traditional customer demand trends; (3) competitive dynamics; (3) China business trends,” as quoted by CNBC.
Analysts at Bank of America just reiterated a buy rating on Alphabet following earnings.
According to the firm, “We see Alphabet as well-positioned long term with leading AI technology to apply to search, YouTube, and Cloud businesses. Alphabet should also benefit from increasing mobile usage, video usage, Google Play activity, and connected device activity.”
And, analysts at Jefferies just reiterated that Broadcom is a top pick that should be bought on any weakness.
As quoted by CNBC, analysts noted a “Strong history of M&A, which we believe should see strong synergies and provide an even larger value proposition to customers. Expect a continued M&A path of software deals every few years.”
The major indices are swimming in red.
The S&P 500 is down 0.52%, or by 36 points. The SPDR S&P 500 ETF (SPY | SPY Price Prediction) is down 0.52%, or by $3.56. The Dow is down 0.3%, or by 135 points, as the Nasdaq sinks 0.83%, or by 208 points.
Sending markets lower, Alphabet (NASDAQ: GOOG) projected a significant increase in AI spending, calling for capex of $185 billion.
That was enough to spook investors because it raises free cash flow concerns. Also, according to Deutsche Bank, Alphabet “stunned the world” with its capex spending plan. “With tech in a current state of flux, it’s not clear whether that’s a good thing or a bad thing,” added the firm, as quoted by CNBC.
Bitcoin Now Below $70,000 – and Plummeting
Not helping, Bitcoin now trades at less than $70,000 and could test $60,000 at this pace.
In fact, it last traded at $69,261.42 – which is great news for traders that are short related stocks, such as Robinhood (NASDAQ: HOOD) and Strategy (NASDAQ: MSTR), which just saw its price target by analysts at Canaccord.
More bearish forecasts see Bitcoin falling below $60,000, with extreme downside scenarios pointing to levels near $30,000.
Several analysts cite weakening technicals and a fragile market. Crypto commentator Crypto Bitlord recently flagged $30,000 as a key long-term support level. He argues that the latest decline—triggered by a broader global market selloff—has further to run.
Plus, profit-taking has coincided with thinning liquidity and a lack of incremental buyers, according to CoinDesk. CoinDesk added that demand has faded, leaving prices more vulnerable to forced selling and derivatives-driven liquidations.
Super Bowl Sunday Opportunities
Pay close attention to oversold gambling stocks, like DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT), ahead of Super Bowl Sunday.
According to the American Gaming Association, $7.61 billion was bet on the Super Bowl in 2021. In 2022, the AGA estimated that more than $8 billion would be wagered. By 2023, $16 billion was wagered. In 2024, about $23.1 billion. In 2025, nearly $30 billion. With the 2026 Super Bowl set for early February, we expect to see another round of big numbers.
To trade the 2026 Super Bowl, investors may want to start jumping into related stocks now.
DraftKings stock saw a bump ahead of the Super Bowl over the last few years. In 2024, DKNG ran from a January low of about $32 to a high of $45.62 after the game. In early January 2025, DKNG ran from about $17.60 to $20.88. Today, DKNG trades at $27.24, where it appears to have just caught double bottom support dating back to November.
Even Flutter Entertainment has been a solid Super Bowl bet. In 2024, FLUT ran from a January low of about $160 to a high of just $220.78. In January 2025, it ran from a low of about $260 to $300. At the moment, it’s also oversold, just starting to pivot from $153.90 a share.
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
© 24/7 Wall St.
Top Gaining Stocks
Top Losing Stocks