Bitcoin Recovers Above $71,000 as Tech Selloff Pauses: BTC-USD, XAG, XAU

Bitcoin rose back above $71,000 on February 5, 2026, after briefly breaching $70,000 earlier in the session, tracking broader stabilization in global markets. The rally followed a 24-hour drop of as much as 7% in the prior session as tech stocks pared gains and metals faced pressure—silver down 17% and gold also weaker. Volumes remain high, but the bounce above $71,000 is interpreted as short-covering. Spot buying has thinned, and stablecoin balances on exchanges are falling, indicating cautious capital and a potential pause in fresh inflows. Macro uncertainty, including Fed leadership and a stronger dollar, continues to weigh. Galaxy Digital cautioned a return to selling could drive bitcoin lower if conditions deteriorate, with some analysts estimating a potential floor in the low-to-mid $60,000 range.