Bitcoin price falls as crypto firms cut jobs and on‑chain data shows no capitulation

On‑chain analysis from CryptoQuant indicates Bitcoin has not entered a capitulation phase. Research head Julio Moreno notes that realized losses total about 136,000 BTC, far below the 1.3‑3.7 million BTC losses seen in previous bottoming cycles, suggesting only a mild correction so far.

Bitcoin traded around $62,950 on 2 August 2026, down 0.09% in 24 hours and 2.3% over the past week. The price decline coincides with a wave of layoffs across the crypto industry: exchange Luno announced a 20% global staff cut, BitMart declared closure after nine years, and BitMEX halted operations. CryptoJobsList reports more than 7,200 jobs eliminated since the start of 2026. Market sentiment has been further pressured by U.S. Federal Reserve rate news and statements from President Donald Trump regarding potential actions against Iran.