Bitcoin jumped back above the $70,000 mark on Friday as investors piled back into the asset class following a volatile week for the cryptocurrency market at largeBitcoin jumped back above the $70,000 mark on Friday as investors piled back into the asset class following a volatile week for the cryptocurrency market at large

Bitcoin’s price roars back over $70,000 following brutal selloff — experts say bottom is in

2026/02/07 04:04
3 min read
For feedback or concerns regarding this content, please contact us at [email protected]

Bitcoin jumped back above the $70,000 mark on Friday as investors piled back into the asset class following a volatile week for the cryptocurrency market at large.

The $1.3 trillion digital asset is up over 6% today after plunging to nearly $60,000 earlier on Thursday. Ether has jumped more than 7% to above $2,000 while XRP trades at $1.46, up nearly 20%.

Bitcoin’s price roars back over $70,000 following brutal selloff — experts say bottom is in

Market watchers say the worst is over.

“While it is difficult to say, conditions appear to be aligning for crypto to bottom,” David Duong, global head of investment research at Coinbase, told DL News.

Bitcoin’s crash was brought on by a combination of factors: collapsing leverage, miners forced to sell, AI hype unravelling, quantum computing risks, and the typical four-year boom-bust cycle patterns that Bitcoin investors expect and sell into.

Investors grappling with Bitcoin’s volatility quickly began to bemoan a bear market, with some experts saying crypto markets could get thrashed even more.

Selloff across the board

The downturn wasn’t exclusive to Bitcoin, however.

Duong added that gold and silver also got battered in trading this week, as did tech equities across the board.

After a tremendous run that took silver to $118 from $74 in January, the precious metal dropped nearly 40% in the past week. Gold, which towered to a fresh price record of $5,500, also pulled back this week, dropping about 13%.

Both have since bounced back.

Tech equities, which typically move in tandem with Bitcoin as “risk on” assets, also jumped. The Nasdaq was up 2% on Friday.

Amid Bitcoin’s decline came President Trump’s announcement for the new Federal Reserve chair: Kevin Warsh.

Warsh, who served as a member of the Federal Reserve Board of Governors from 2006 to 2011, has made pro-crypto statements in the past. And despite Warsh previously claiming that interest rates need to be lower, his history as an inflation hawk has spooked investors.

“A combination of factors has weighed on sentiment — from Warsh’s appointment as Fed chair to mixed results from tech earnings,” Duong told DL News.

Bitcoin making history

Experts reckon this week’s Bitcoin crash was an outlier.

“The current price action is not just painful; it is unprecedented,” crypto options exchange Deribit’s chief commercial officer Jean-David Peiquignot told DL News.

“For the first time in Bitcoin’s history, the market is on track for a third consecutive monthly decline.”

Bitcoin’s swift drop — last week it was trading at nearly $83,000 — came as highly leveraged traders got liquidated. In fact, over $2.65 billion in futures positions were closed yesterday, according to CoinGlass data.

Peiquignot continued that the number of liquidations this week means that the bottom should be in, although left the door open for more unexpected “macro catalysts” that could lead to more pain.

Bitcoin has been grappling with increased volatility since October 10 — the biggest liquidation event in the history of crypto — when over $19 billion in digital asset bets were liquidated.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at [email protected].

Market Opportunity
Notcoin Logo
Notcoin Price(NOT)
$0.0003512
$0.0003512$0.0003512
-4.25%
USD
Notcoin (NOT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

BoC cuts 25bps, signals room for more easing – BBH

BoC cuts 25bps, signals room for more easing – BBH

The post BoC cuts 25bps, signals room for more easing – BBH appeared on BitcoinEthereumNews.com. The Bank of Canada’s more dovish policy stance relative to the Norges Bank supports the downtrend in CAD/NOK, BBH FX analysts report. Labor weakness, softer inflation opяen door to further cuts “Yesterday, the Bank of Canada (BOC) cut the policy rate 25bps to 2.50% (widely expected) after being on hold since April. The BOC noted “there was clear consensus to lower our policy rate” because Canada’s labor market has softened further, upward pressures on underlying inflation have diminished, and there is less upside risk to future inflation.” “That suggests more easing is in the pipeline if Canada’s labor market shows ongoing weakness. The swaps market is pricing 80% odds of an additional 25bps cut by year-end to 2.25% and some odds of another 25bps reduction to a low of 2.00% over the next 12 months.” Source: https://www.fxstreet.com/news/boc-cuts-25bps-signals-room-for-more-easing-bbh-202509181128
Share
BitcoinEthereumNews2025/09/18 23:35
Navigating The Crucial Neutral Stance

Navigating The Crucial Neutral Stance

The post Navigating The Crucial Neutral Stance appeared on BitcoinEthereumNews.com. Crypto Fear & Greed Index: Navigating The Crucial Neutral Stance Skip to content Home Crypto News Crypto Fear & Greed Index: Navigating the Crucial Neutral Stance Source: https://bitcoinworld.co.in/crypto-fear-greed-index-neutral-29/
Share
BitcoinEthereumNews2025/09/18 20:34
Wormhole unveils strategic reserve to accumulate W token

Wormhole unveils strategic reserve to accumulate W token

The post Wormhole unveils strategic reserve to accumulate W token appeared on BitcoinEthereumNews.com. Key Takeaways Wormhole announced the creation of a strategic reserve aimed at supporting the value of its native W token. The reserve is part of a broader tokenomics initiative by Wormhole to enhance utility and value within its cross-chain protocol ecosystem. Wormhole introduced a strategic reserve designed to accumulate value into its W token, according to a blog post published today. The cross-chain protocol announced the initiative as part of its tokenomics strategy. The W token serves as Wormhole’s native digital asset within its interoperability ecosystem that connects multiple blockchain networks. Source: https://cryptobriefing.com/wormhole-strategic-reserve-w-token-value/
Share
BitcoinEthereumNews2025/09/17 23:49

Trade GOLD, Share 1,000,000 USDT

Trade GOLD, Share 1,000,000 USDTTrade GOLD, Share 1,000,000 USDT

0 fees, up to 1,000x leverage, deep liquidity