Bitcoin traded in a tight range around $70,000 and then slid toward $68,500 as over $250 million in crypto positions were liquidated within 24 hours. Analysts highlighted bears' attempts to regain control, pointing to clustered leveraged liquidity between $66,000 and $74,000 and warning of a likely retest of local support amid weakening demand. The market showed signs of reduced fresh capital inflows, raising concerns about the durability of recent bullish momentum.

Bitcoin traded steadily around $70,000 after the Monday U.S. market open as traders watched a narrowing range and shifting order flow. On-chain data showed the Coinbase Premium Index briefly turning positive for the first time since mid-January and whale accumulation picking up on Binance. Analysts described broader crypto conditions as defensive, with compressed profitability and cautious risk positioning.

Bitcoin began the second week of February trading above $70,000, while multiple analysts warned that a convincing macro bottom may still lie closer to $60,000 or even $50,000. Upcoming U.S. CPI data, shifting expectations for Federal Reserve rate cuts, movements in the U.S. dollar index and Japan's post-election policy stance are all seen as key factors for BTC price volatility, alongside elevated miner BTC transfers to exchanges.

On Sunday, BTC/USD climbed to $71,000 and was up 20% versus Friday's 15‑month lows, according to TradingView, though intraday gains peaked near 3%. Analysts Filbfilb, Tony Severino and BitBull cautioned that final capitulation may still lie ahead, with one calling for a "real bottom" below $50,000 and Checkonchain citing a U.S. spot ETF cost basis around $82,000.

Bitcoin fell back below $69,000 at the start of the weekend after testing levels above its 2021 peak, with some analysts arguing that a macro bottom has not yet formed. Others are focusing on CME Bitcoin futures gaps, including one around $84,000, as potential upside targets in a broader relief move.

On Friday, Martin Leinweber of MarketVector Indexes said Bitcoin fell 2.88 standard deviations below its 200‑day simple moving average, an unprecedented gap in a decade of data. He argued such extremes raise the likelihood of mean reversion, while weekly losses topped 22%. On Thursday, BTC also posted a $10,000 daily decline, with sentiment sinking to 9/100 on the Fear & Greed Index.

Bitcoin fell below $70,000 on Thursday, touching $69,100 on Bitstamp during the Asia session, according to TradingView. CoinGlass showed about $130 million in long liquidations over four hours as traders watched the 200‑week EMA near $69,000 and discussed potential downside toward $50,000, while the Coinbase Premium hit its lowest in more than a year.

After the U.S. trading session on Feb. 4, 2026, Bitcoin briefly dropped below $72,500 on Bitstamp, setting a fresh 15‑month low under $73,000. The move came as macro markets, including gold and silver, reversed recent gains and more than $800 million in crypto positions were liquidated, with traders eyeing downside targets around $50,000 and $59,000–$65,000.

On Tuesday, Bitcoin traded sideways below the $80,000 resistance level while gold rebounded toward the $5,000 area and silver posted a double‑digit daily gain. Market observers debated Bitcoin's long‑term performance versus gold, and Bitwise CIO Matt Hougan argued that the current "crypto winter", which he dates from January 2025, may be nearing its end.