BTC Rockets Back to $70K Amid Ongoing Crypto Volatility

Bitcoin rebounded strongly Friday, February 6, 2026, closing above the $70,000 psychological level, though the broader cryptocurrency market remains volatile and a sustained bottom has not been confirmed. At press time, Bitcoin (BTC-USD) traded at $71,629, up over 11% within 24 hours. The rally followed a sharp sell-off on Thursday that dipped below $61,000 and approached the $60,000 level. Key selling pressures included现货ETF liquidations, margin liquidations from the price plunge, and selling in software-focused stocks that spilled over into the crypto market. Bitcoin is down over 40% from its October 2022 high of $126,000 and analysts suggest some positioning may have been snapped on the pullback. However, 10X Research and Bellwether Wealth caution that further corrections to as low as $50,000 or even $40,000–$50,000 are still possible despite the short-term rebound.