LONDON, Feb 6, 2026, 13:16 GMT — Regular session.
- Bitcoin bounced back past $65,000 following a drop close to $60,000, yet it’s on track for its sharpest weekly loss since late 2022.
- The CME December 2026 bitcoin futures contract hovered near $67,285 on Thursday, signaling limited upside potential after the recent selloff.
- Traders are tracking if ETF outflows and a tech-driven risk-off mood will sustain pressure on crypto ahead of crucial U.S. inflation figures next week.
Bitcoin bounced back above $65,000 on Friday following a dip near $60,000, a threshold many traders see as crucial support amid the ongoing selloff. The cryptocurrency last traded up 4.4%, hitting $65,894.20.
Some desks eyeing 2026 are leaning on the futures curve rather than headline price predictions. The CME December 2026 bitcoin futures contract (BTZ26) hovered around $67,285 on Thursday, according to Barchart data—just a slight premium over the spot price.
The significance lies in the fact that the downturn no longer reads as a neat crypto tale but has aligned with the broader category investors call “risk.” Tech stocks have taken sharp hits, dragging cryptocurrencies and even precious metals down with them. Reuters
Bitcoin has tumbled nearly 14% this week, marking its worst weekly plunge since November 2022, dragged down after sustained pressure since last October’s highs. Ether edged up 4% to $1,921 but faces a sharp weekly decline nonetheless.
Markets have been volatile on the AI trade, as investors debate just how big and profitable the expected spending boom will be. “It’s almost been a week of two halves,” noted Fiona Cincotta, senior market analyst at City Index, highlighting the changing concerns over AI software and investment in AI. Reuters
The crypto market surged as investors hunted for growth and liquidity, a connection that remains intact. “A lot of these big crowded positions are being unwound very, very quickly,” said Chris Weston, head of research at Pepperstone in Melbourne. Reuters
Flows have become a daily scoreboard. Deutsche Bank analysts reported that U.S. spot bitcoin ETFs—those holding bitcoin and trading on stock exchanges—experienced over $3 billion in outflows in January, following roughly $2 billion in December and $7 billion in November.
Bitcoin-linked ETFs took a hit Thursday, with BlackRock’s iShares Bitcoin Trust (IBIT) dropping over 13%, according to MarketWatch.
Corporate bitcoin holders have come under renewed scrutiny. Strategy posted a larger fourth-quarter loss after slashing the value of its digital assets and revealed it held 713,502 bitcoins as of Feb. 1.
Michael Saylor, Strategy’s executive chairman, told investors after the results that “The actions by big finance, the actions by the big banks and the actions by the financial regulators are the fundamentals.” When asked about potential policy impacts from Washington during the call, he dismissed the concerns, saying, “It’s above our pay grade to set financial policy.” Reuters
That said, the risk to the downside remains. A sharper drop in tech stocks, ongoing ETF outflows, or tighter credit conditions could drag Bitcoin back toward $60,000. Traders focused on the “2026” curve warn it can shift fast once volatility kicks in. Reuters
Traders are now turning their attention to the U.S. inflation report for January, set for release on Feb. 13. The data could offer fresh signals on interest rate moves and whether Bitcoin’s recent surge above $65,000 can stick as the week progresses.
Related articles: NASDAQ:CME
