Bitcoin Rebounds 12% as Coinbase Premium Narrows to -0.06% (02-09-2026)

Bitcoin recovers 12% from its Friday low of $62,822, closing at $70,998 on CoinGecko, as traders close short positions and the Coinbase Premium index narrows to -0.06% from -0.23% on Friday, per CoinGlass. The rally is technically driven, with declining open interest and positive cumulative volume delta indicating relief from bearish positions. The improving Coinbase premium reflects renewed U.S. buying, but macro risks and limited structural demand suggest sustainability is unproven. Global risk sentiment eases as Asian equities rally on Japan’s PM election win, with the Nikkei 225 up 5%. Analysts await U.S. economic data to assess whether the bounce evolves into broader trend-reversal momentum.