Bitcoin nears $60,000 as tech selloff drives flight to safety; ETH up 2.4% amid $2T+ crypto drop

Bitcoin tested and briefly touched $60,000 support on February 6, 2026, as a selloff in tech stocks deepened, driving investors to seek safety in Treasuries and cryptocurrencies. The digital currency traded as high as $64,153.24, reaching its weakest level since October 2024. Since October 2024, the global crypto market has lost about $2 trillion, with over $1 trillion erased in the past month. Bitcoin was on track for a 16% weekly decline and a 27% annual loss, while ether gained 2.4% to $1,891.27 after hitting a 10-month low of $1,751.94, heading for a 17% weekly drop and 36% annual loss. Outflows from U.S. spot bitcoin ETFs exceeded $3 billion in January, continuing a trend of drying investor enthusiasm.