Bitcoin, the largest cryptocurrency by market cap and often referred to as ‘Digital Gold,’ has reclaimed the $70K support level and is now stabilizing above it. As of February 09, 2026, BTC is trading at $70,450.27, indicating a 1.73% price surge over the past 24 hours and 17.4% over the past two days, when it was trading at $60,000. On Friday, the broader cryptocurrency market experienced an unprecedented sell-off, triggering sharp declines in leading assets such as BTC, ETH, SOL, and XRP. Following the price drop, these traditional big players posted notable gains, including BTC reclaiming the $70K price point and triggering short-term bullish momentum in the market.
BTC’s short-term bullish run, supported by a market capitalization of $1.39 trillion and daily trading volume of $42.09 billion, underscores the digital asset’s resilience amid market turbulence and heightened volatility. Industry experts believe that BTC eyes a $72K-$76K consolidation if the $70K support level holds. Bitcoin’s dominance currently stands at 59.19%, reflecting persistent long-term bearish sentiment and extreme fear as indicated by the Fear and Greed Index. Analysts and crypto experts are closely monitoring the scenario and watching BTC’s technical levels. According to them, the $60,000 area acted as a key support, whereas the resistance is around $73,000–$75,000. A steady price movement above these resistance levels could trigger further upside.
The past week was a roller-coaster one for the crypto market. BTC, the most precious digital asset in the world, plunged toward the $60,000 price point for the first time in months after a brutal sell-off. Bitcoin’s sharp price drop was driven by multiple factors, including institutional outflows, macroeconomic headwinds, and heavy liquidations. Last week, Spot Bitcoin ETFs recorded massive net outflows exceeding $1 billion, while macroeconomic concerns, such as the nomination of Kevin Warsh as the next Fed Chair and fears of higher interest rates, further intensified the market downturn.
Bitcoin Rebounds Above $70K as Institutions and Major Players Step In
Bitcoin is up today and showing a significant bullish outlook in the cryptocurrency market. Dip buying and corporate inflows provided strong support for BTC. According to the latest market data, large-scale buyers stepped in during the price drop, helping to stabilize the digital asset and avert a deeper market crash. Institutional players capitalized on the opportunity and triggered specific moves; they bought enough BTC to absorb the selling pressure and keep the price stable. During the market crash, Strive, co-founded by Vivek Ramaswamy, initiated an aggressive BTC acquisition, buying 334 BTC, expanding its Bitcoin treasury to 13,132 BTC, currently valued at over $1.1 billion. On February 6, Binance’s Secure Asset Fund for Users (SAFU) was upgraded with approximately $233 million, or 3,600 BTC.
The CryptoBasic reported today that Jim Cramer had suggested the U.S. government may have bought Bitcoin near the $60,000 level.
It said the claim emerged during a live CNBC broadcast, where the long-time host raised the idea on the Squawk on the Street program. During the segment, Cramer reportedly stated that he had heard U.S. President Donald Trump planned to add Bitcoin to a national reserve at around $60,000.
The report noted that Cramer’s comments came amid heightened volatility in Bitcoin markets, after the asset briefly fell to just above $60,000 following a rapid sell-off that erased roughly $10,000 in value within hours. It added that Bitcoin later rebounded and moved back above $70,000, trading at $70,829 at the time of publication, though it was still more than 40% below its October 2025 peak of $126,080.
