New York, Feb 9, 2026, 1:39 PM ET — Regular session
- Bitcoin slipped roughly 1.2%, landing near $70,366 after bouncing between $68,371 and $72,024.
- Macro traders kept one eye on risk assets, wary after the dollar softened and with a packed U.S. data calendar looming.
- Analyst calls sent crypto-related stocks swinging, fueling more cross-market chatter.
Bitcoin dropped roughly 1.2% on Monday, changing hands at $70,366. After a week of wild moves, traders were left searching for signs of a bottom.
This is notable right now—crypto’s been acting like a high-beta risk trade, snapping to changes in rates, the dollar, and how stocks are feeling. There’s a heavy slate of U.S. data this week, and traders are still guessing how much policy easing is really left for the year.
The dollar’s broad drop threw in another twist. The yen found its footing following Japan’s election. After a report surfaced that Chinese regulators told financial institutions to limit their U.S. Treasury exposure, the greenback lost more ground. Moneycorp’s Eugene Epstein pointed out that Japan’s story now “has carried more and more indirect implication on other markets or even other asset classes.” https://www.reuters.com/world/asia-pacific/yen-slide-deepens-takaichi-triumph-japan-election-paves-way-more-stimulus-2026-02-09/
Bitcoin swung sharply within its session range, underscoring how quickly liquidity dries up once stops are triggered. Ether, meanwhile, clawed back losses to trade up roughly 0.7% at $2,127.86.
Mohamed El-Erian, chief economic adviser at Allianz, told CNBC he sees bitcoin’s wild price swings sticking around unless “resident investors, not tourist investors” start making up a bigger part of the market and can handle the turbulence. Crypto commentator Anthony Pompliano, also speaking to CNBC, pointed to profit-taking, a pickup in short and hedge trades, and a dip in inflation expectations as pressure points. “When you look at who’s buying gold, it’s the central banks,” he said. https://www.businessinsider.com/bitcoin-price-today-bear-market-why-btc-is-down-crypto-2026-2
Crypto stocks didn’t escape the jitters. Morgan Stanley started coverage on MARA Holdings, slapping an underweight rating and an $8 target on the shares. The firm cited mining economics as the main factor behind the stock’s moves and pointed to ongoing worries over bitcoin mining returns.
Eyes are on U.S.-listed spot bitcoin ETFs, the funds that actually own bitcoin, as traders try to gauge whether dip buyers are coming back or if outflows are starting up again following the selloff.
The downside risk still lingers. A hotter-than-expected inflation read or jobs number might drive yields up and put pressure on risk assets. Plus, if the dollar strengthens, demand for tokens priced in dollars could take a hit.
Coming up: a string of U.S. data releases. Investors are zeroing in on inflation and retail sales figures. The postponed jobs report lands Wednesday (Feb. 11). Looking ahead, the Federal Reserve’s policy decision is set for March 18.
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