Bitcoin Reclaims Almost All of the Losses From Thursday’s Rout

2026년 2월 7일 · Unknown · financial · 출처 Yahoo Finance

Bloomberg

(Bloomberg) -- Bitcoin reclaimed almost all of the losses registered during Thursday’s crypto market meltdown, which was the largest since the collapse of Sam Bankman-Fried’s FTX exchange roiled the digital asset sector more than three years ago.

The world’s largest cryptocurrency fell more than 13% yesterday, dragging the token down more than 50% from its October peak. Bitcoin rose as much as 11.4% to $70,300 on Friday. Earlier in the session, it came close to falling below $60,000 for the first time since October 2024.

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Other, smaller, less-liquid tokens also rebounded. Ether and Solana both rose 9%, while XRP surged more than 30%. Bitcoin accounts for almost 60% of the $2.38 trillion crypto market’s value.

Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence. The selling picked up steam this week in line with the unwinding of leveraged bets and broader market turbulence.

“It feels like a relief bounce after the wave of selling got exhausted,” said Noelle Acheson, author of Crypto is Macro Now newsletter, adding that gold and silver also bottomed and recovered at the same time.

The bounce back from $60,000 suggests there’s “strong support there,” said Damien Loh, chief investment officer at Ericsenz Capital. Still, traders shouldn’t “expect a sharp rally back up” as sentiment remains cautious, he added.

Choppy trading in the past 48-hours underscores a sharp rise in volatility.

Bitcoin is experiencing its worst volatility since the collapse of crypto exchange FTX, with failed rebounds leading to new waves of forced selling. Market depth remains more than 35% below October levels, a drop last seen after FTX collapsed in late 2022, according to Kaiko. In such low liquidity, even modest flows can amplify price swings and trigger more liquidations.

The Bitcoin Volmex Implied Volatility Index — designed to reflect the market’s expected 30-day volatility of Bitcoin, and derived from real-time crypto options prices — surged to over 97% from 57% on Thursday.

“Bitcoin volatility has doubled from last week,” said Pratik Kala, head of research at Apollo Crypto, a digital-assets hedge fund. “Players like us and others have realized that this is a ‘blood on the streets’ moment and are bidding.”

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About $2.1 billion of bullish bets across all cryptocurrencies were liquidated in the past 24 hours, according to CoinGlass data.

Bitcoin hoarders are among those feeling the pinch. In an earnings announcement Thursday, Michael Saylor’s Strategy Inc. confirmed a net loss of $12.4 billion for the fourth quarter, driven by the mark-to-market decline in its vast holdings. Still, shares of Strategy jumped around 20% on Friday with Bitcoin rallying.

“It’s always difficult for Bitcoin as a store of value during such market conditions,” said Fabian Dori, chief investment officer at Sygnum Bank. “But I think what’s important to keep in mind is that Bitcoin is not a short-term store of value or a hedge against short-term market turbulence.”

Investors pulled $434 million from US exchange-traded funds for Bitcoin on Thursday.

Traders are now focused on whether Bitcoin can hold $60,000, said Rachael Lucas, an analyst at BTC Markets. A failure to do so “could see downside in the mid-$50,000” range, she added.

--With assistance from Anna Irrera.