On 6 February, Bitcoin rebounded to about $70,300 after briefly sliding near $60,000 earlier in the week, easing selling pressure and stabilizing crypto markets. The 12% daily recovery coincided with gains in majors, including Ethereum up more than 7% and Solana over 6%, while stablecoins remained largely flat.

On-chain analytics firm Glassnode reports that Bitcoin's entity-adjusted 7-day average Realized Loss climbed to $889 million on Wednesday, the largest single-day loss realization since November 2022. The surge in realized losses accompanied a sharp BTC price decline of more than 21% over the past week, pushing the spot price down to about $66,700 and driving a wave of investor capitulation.

Bitcoin slid to $65,000 in a single trading session, erasing a chunk of recent gains and pushing many recent buyers into loss. On February 5, 2026, Glassnode said its capitulation gauge posted the second-largest spike in two years, with realized losses nearing $890 million a day on a seven-day average and liquidations clustering into a roughly 10-hour window.

On 6 February, a system glitch on Bithumb briefly sent Bitcoin’s KRW pair down over 17%, with trades near ₩81.5 million before rebounding. The error credited roughly 2,000 BTC to hundreds of accounts, prompting sales of more than 500 BTC and a localized flash crash, while exchange netflows later hovered around -3,000 BTC.

On Friday, Martin Leinweber of MarketVector Indexes said Bitcoin fell 2.88 standard deviations below its 200‑day simple moving average, an unprecedented gap in a decade of data. He argued such extremes raise the likelihood of mean reversion, while weekly losses topped 22%. On Thursday, BTC also posted a $10,000 daily decline, with sentiment sinking to 9/100 on the Fear & Greed Index.

Nobel laureate Paul Krugman says the latest crypto slump differs from past cycles, invoking a "Fimbulwinter" and arguing that politics eroded the ideological base that once supported Bitcoin. He adds that Bitcoin has trailed gold and may not be a lasting asset. Bitcoin touched $60,255, a low since October 2024, before rebounding.

According to TradingView order book data, Bitcoin plunged by about $13,000 in a single day before reversing at a perfectly precise $60,000.00 across major exchanges. The move followed roughly $2.6 billion in liquidations and has sparked speculation about algorithmic triggers, institutional floors and psychological round-number effects around this level.

On Feb. 5, a wallet labeled as World Liberty Financial on Arkham Intelligence withdrew about 73 WBTC and 100 WBTC from Aave V3 and sold them to repay $11.75 million in stablecoin liabilities. The address, whose ownership is not confirmed, now shows a health factor of 1.54, with roughly 13,298 WETH and 167 WBTC posted against $18.47 million in variable-rate USDC debt.