By Francisco Rodrigues (All times Eastern unless otherwise noted)
Bitcoin It is down nearly 2.5% in the past 24 hours after failing to hold on to gains to $71,000 during the weekend rally.
The pullback comes after a tumultuous few days in which the cryptocurrency fell to lows of $60,000 before rebounding. BTC is still down more than 11% in the past seven days.
Even so, it has outperformed the broader market, with the CoinDesk 20 (CD20) index down 13.5% in 24 hours and 13.7% over the week.
The decline prompted institutions to take action. Bitwise CEO Hunter Horsley told CNBC late last week that the company has seen significant inflows as prices fell.
“I think long-term holders are feeling uncertain, and I think a new group of investors – institutions – feel like they’re taking a new stab at Apple and seeing prices that they thought they’d never miss out on,” Horsley said.
SoSoValue data showed that the spot Bitcoin ETF reversed three consecutive days of capital outflows on Friday, with a net inflow of $371 million. Still, retail sentiment remains fragile. Julio Moreno, head of research at CryptoQuant, noted on social media that U.S. investors are buying back shares as the Coinbase Premium Index turns positive for the first time since mid-January.
Cryptocurrency analytics firm Santiment said online search interest in terms like “crypto capitulation” surged and remained high during the sell-off, providing an opportunity for value investors to step in.
At the same time, capital is flowing into traditional safe havens. Gold and silver continued their recovery after a sell-off late last month, with prices above $5,000 again as investors factored in a weaker U.S. dollar and major buyers continued to accumulate holdings. These include Tether, which has gold reserves exceeding $23 billion, and China’s central bank.
Stock futures fell ahead of the opening bell as Japanese shares rose as the ruling party secured a landslide victory in snap elections. Japanese Prime Minister Sanae Takaichi campaigned on low interest rates and massive fiscal spending.
Japanese government bond yields continue to rise, with further unwinding of yen carry trades, affecting risk assets including cryptocurrencies. The relaxation may bring nearly $5 trillion in overseas investment back home. Stay alert!
Read more: For analysis of today’s altcoin and derivatives activity, see Today’s Cryptocurrency Market
What to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptocurrency
- Macro
- February 9, 11 a.m.: U.S. consumer inflation expectations in January (previous value 3.4%)
- income (Estimate based on FactSet data)
Token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- There are no major governance votes.
- Unlock
- Token issuance
- February 9: Pendle will launch the spENDLE repurchase on February 13, with the first revenue distribution, and time-weighted rewards starting from January 29.
- February 9: ZKsync will launch the first quarter of the ZKnomics staking pilot program via Tally
Meeting
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
market trend
- BTC is down 2.90% since 4pm ET on Sunday to $69,045.23 (24 hours: -2.44%)
- ETH fell 4.07% to $2,034.28 (24 hours: -4.40%)
- CoinDesk 20 down 3.09% to 1,973.38 (24 hours: -3.46%)
- Ethereum CESR comprehensive pledge rate fell 25 basis points to 2.74%
- The BTC financing interest rate on Binance is -0.037% (annualized -4.0362%)
- DXY fell 0.33% to 97.31
- Gold futures rose 1.67% to $5,033.80
- Silver futures rose 5.62% to $81.05
- The Nikkei 225 Index closed up 3.89% at 56,363.94 points
- The Hang Seng Index closed up 1.76% to 27,027.16 points
- The FTSE 100 rose 0.31% to 10,402.44
- The Euro Stoxx 50 index rose 0.39% to 6,021.78
- The Dow closed 2.47% higher on Friday at 50,115.67
- The S&P 500 closed up 1.97% at 6,932.30
- The Nasdaq Composite Index closed up 2.18% at 23,031.21 points
- The S&P/TSX Composite Index closed up 1.49% at 32,471.00
- The S&P 40 Latin America Index closed down 2.89% at 3,653.05 points
- The U.S. 10-year Treasury bond rate rose 2 basis points to 4.23%
- E-mini S&P 500 futures were unchanged at 6,949.25
- E-mini Nasdaq 100 futures fell 0.20% to 25,113.25
- E-mini Dow Jones Industrial Average futures unchanged at 50,246.00
Bitcoin Statistics
- Bitcoin dominance: 59.33% (-0.05%)
- Ethereum-Bitcoin ratio: 0.02944 (-0.92%)
- Computing power (seven-day moving average): 977 EH/s
- Hash price (spot): $34.55
- Total fee: 2.23 BTC / $157,182
- CME Futures Open Interest: 116,125 BTC
- BTC in gold: 13.8 ounces.
- Bitcoin and gold market capitalization: 4.62%
technical analysis
- Bitcoin is testing the 200-week exponential moving average (around $68,339), a key support level that prevents a long-term structural decline.
- The weekly RSI is firmly oversold at 28.18, a level that historically precedes short-term rallies.
- While this positioning suggests a high likelihood of a rebound, a clear reversal of the downtrend would require a sustained break above $74,000.
crypto stocks
- Coinbase Global (COIN): Closed Friday at $165.12 (+13.00%), down 1.24% to $163.07 pre-market
- Galaxy Digital (GLXY): Closed at $19.76 (+17.34%), –0.30% at $19.70
- MARA Holdings, Inc. (MARA): Closed at $8.24 (+22.44%), –2.67% to close at $8.02
- Riot Platforms, Inc. (RIOT): Closed at $14.45 (+19.82%), –1.18% to close at $14.28
- Core Scientific, Inc. (CORZ): Closed at $16.81 (+13.47%), -0.30% to close at $16.76
- CleanSpark (CLSK): Closed at $10.08 (+21.96%), –0.89% at $9.99
- Exodus Movement (EXOD): Closed at $10.56 (+12.10%)
- CoinShares Bitcoin Mining ETF (WGMI): Closed at $40.43 (+14.76%)
- Circle Internet Group (CRCL): Closed at $57.04 (+13.56%), -1.05% at $56.44
- Bullish (BLSH): Closed at $27.45 (+10.24%), unchanged from $27.45
Cryptocurrency Treasury Corporation
- Strategy (MSTR): Closed at $134.93 (+26.11%), –3.47% at $130.25
- Strive Asset Management (ASST): Closed at $11.91 (+20.84%), –3.40% to close at $11.51
- Sharplink Gaming (SBET): Closed at $7.03 (+15.82%), -0.71% to close at $6.98
- Upexi, Inc. (UPXI): Closed at $1.14 (+4.59%), +0.88% at $1.15
- Lite Strategy, Inc. (LITS): Closed at $1.06 (+11.58%)
ETF flows
Spot BTC ETF
- Net daily traffic: $330.7 million
- Cumulative net flow: $54.63 billion
- Total BTC holdings are approximately 1.27 million
Spot ETH ETF
- Daily Net Traffic: -$21.3M
- Cumulative net flow: $11.83 billion
- The total holdings of ETH are approximately 5.83 million
Source: Farside Investors
when you are asleep
- Takaichi’s win sends Nikkei to record high, Bitcoin hits $72,000, gold tops $5,000 (CoinDesk): Japan’s Nikkei 225 surged to a record high on Monday, topping 57,000 points, after Prime Minister Sanae Takaichi secured a decisive “supermajority” victory in the election.
- China urges banks to limit U.S. Treasury exposure (Bloomberg): Chinese regulators are recommending financial institutions rein in U.S. Treasury holdings, citing concerns about concentration risks and market volatility.
- Jefferies says Tether’s gold reserves have surpassed $23 billion as purchases outpace countries: Wall Street investment banks estimate the cryptocurrency company holds at least 148 tons of physical gold, ranking it among the top 30 gold holders in the world.
- Goldman Sachs said U.S. IPOs will quadruple in 2026 to a record $160 billion as trading rebounds. Goldman Sachs analysts said that the U.S. stock market will rebound sharply in 2026 from IPOs, with well-known companies such as SpaceX, OpenAI and Anthropic approaching public listings, with funds raised expected to quadruple to a record $160 billion.