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.

On February 9, analyst Ali Martinez highlighted that the Bitcoin price is approaching the −1.0 MVRV Pricing Band, a zone that has aligned with cycle lows in past downturns. The −1.0 line is around $52,040, while Bitcoin traded near $69,279 after a 2.6% daily drop and a 12% weekly decline. Previous cycles in 2015, 2018, and 2022 reached similar areas before multi‑month rebounds.

On February 9, 2026, Bitcoin came under renewed derivatives pressure as monthly Net Taker Volume turned negative. According to the report, taker flows were around -$272 million and Binance buy-sell ratio fell to 0.97, while price hovered near $68,945. Futures activity continued to outpace spot demand, leaving the rebound vulnerable ahead of key macro releases.

During the latest crypto market crash, MicroStrategy expanded its Bitcoin treasury with an additional $90M purchase, highlighting ongoing institutional demand even as retail sentiment weakens. At the same time, Bitcoin Hyper, a Layer 2 project integrating the Solana Virtual Machine, has secured over $31.3M in its presale with whale wallets accumulating $1M. One whale transaction of $500K was recorded on Jan 15, 2026, as investors position for potential Bitcoin-based DeFi growth.

Michael Saylor disclosed on February 9, 2026 that Strategy spent about $90 million to buy 1,142 BTC at roughly $78,815 per coin. The firm now holds 714,644 BTC acquired for around $54.35 billion at an average of $76,056, while the asset trades below $70,000 and its stock has recently shown sharp volatility.

On February 9, brokerage Bernstein told clients it expects Bitcoin to set a new all‑time high of $150,000 in 2026, describing the setup as the 'weakest bear case.' The firm pointed to expanding institutional adoption, a more favorable U.S. policy climate, and the absence of major scandals; BTC was about $69,084 after a 22% year‑to‑date slide, implying a 117% climb to the target.

Binance added 4,225 BTC worth $300 million to its SAFU wallet on Monday, pushing the reserve's value above $720 million. The move is part of a plan announced on Jan. 30 to convert the $1 billion user protection fund to Bitcoin, with completion targeted within 30 days. The shift increases exposure to BTC price volatility.

Bitcoin has slid into the historically significant $60K–$62K demand zone after breaking below a prior major daily low near $75K and remains capped under the $75K–$77K supply area. Price has rebounded toward the $69K–$70K region on both daily and 4-hour charts but now trades in a compressed range between this resistance band and the key support around $60K. On-chain data shows the $60K area aligns with the realized price of 18-month to 2-year holders acting as support, while the realized price of 12- to 18-month holders near $85K–$90K could form resistance on any recovery.