Bitcoin has rebounded from a sharp decline to around $60,000, with its price recently trading near $68,892 and intraday gains of 6.44%. On-chain data shows the Coinbase Premium, which had been negative since mid-January, has flipped positive as US investors regain confidence and Bitcoin climbs over 16% toward $70,000. Despite this shift, analysts note that broader macro conditions and the risk of a deeper correction, with Bitcoin still about 50% below its all-time high and showing double-digit weekly and monthly losses, remain key concerns.

BlackRock’s iShares Bitcoin Trust posted $231.6 million in net inflows on Friday, following a combined $548.7 million in outflows across Wednesday and Thursday. On February 5, 2026, the ETF registered about $10 billion in trading as its price fell 13%, before rebounding 9.92% to close at $39.68.

Bitcoin jumped from about $60,000 to over $70,000 within a day after a sharp selloff that had erased roughly 14% and liquidated around $1 billion in leveraged positions. The recovery followed a broad macro rebound across equities and precious metals, but derivatives and options positioning still indicate heavy demand for downside protection and sizable put interest around the $60,000–$50,000 area.

South Korea's Financial Supervisory Service opened an on-site inspection of Bithumb after a promotion glitch credited 2,000 BTC to hundreds of users, triggering a brief price dislocation and trading curbs. Regulators are reviewing potential rule breaches, user-protection lapses, and recovery of assets, while the Korea Fair Trade Commission launched a separate inquiry into Bithumb's marketing practices.

Bitcoin is trading around $65,000 while persistent selling pressure and a roughly 17% yearly decline weigh on sentiment. CryptoQuant's Market Cycle Signals indicator now places price action near an early accumulation zone around $54,600, as Bitcoin trades below key weekly moving averages and remains at risk of further downside if it fails to reclaim the $70,000–$75,000 range.

BlackRock's iShares Bitcoin Trust (IBIT) recorded $231.6 million of inflows on Friday, following two prior sessions of heavy redemptions and a sharp price decline. The move came in a week where U.S. spot Bitcoin ETFs saw three days of $1.25 billion in combined outflows before a $330.7 million inflow rebound, while Bitcoin's price fell 24.30% over 30 days.

Bitcoin's slide below $70k has coincided with growing strain on miners, including a recent $87 million (1,318 BTC) transfer by MARA to centralized exchanges. With daily miner revenue down 36% year-on-year to $28.3 million and sell-off metrics hitting yearly highs, mounting miner pressure could limit the strength of any BTC price recovery.

Jeff Park, partner and CIO at ProCap Financial, says Bitcoin's roughly 50% slide reflects a break from the old liquidity-driven playbook, and contends a prospective Kevin Warsh–led Federal Reserve could herald a new trading regime. On February 5, 2026, Park reiterated his bear‑market stance and, citing Michael Howell, pointed to global liquidity near $170 trillion through 2025.