New York, Feb 9, 2026, 10:22 EST — Regular session
Bitcoin (BTC) dropped roughly 2.8% Monday, landing at $69,317. The price slid back under the $70,000 mark after hitting a session low of $68,371 in early U.S. hours, before bouncing to $72,024 and trimming some of the decline.
Investors are scrambling to re-enter after a bruising period for risk assets, with a barrage of upcoming U.S. economic data poised to potentially sway Federal Reserve rate-cut bets. Market rebounds have been patchy—crypto has taken its share of hits, too. 1
Some analysts caution that lower liquidity leaves bitcoin more vulnerable to sudden jolts from even modest trades. “Reduced liquidity translates into sharper and more erratic price movements,” said Thomas Probst, research analyst at Kaiko, a crypto data provider. Back in October, bitcoin surged past $125,000 to an all-time high, but has since lost ground. 2
U.S.-listed spot bitcoin ETFs, which actually hold the cryptocurrency, saw a sharp reversal in flows this week. After pulling in $371.1 million in net inflows on Feb. 6, the funds had posted outflows of $544.9 million on Feb. 4 and another $434.1 million on Feb. 5, according to Farside Investors data. 3
Regulators in South Korea ramped up their warnings. Financial Supervisory Service governor Lee Chan-jin called out Bithumb’s accidental bitcoin giveaway, describing it as evidence of “the structural problems of electronic systems for virtual assets.” Officials pressed for stricter oversight, pointing to the incident as digital assets edge toward the financial mainstream. 4
Ether slid 3.4%, landing at $2,033. Crypto-related U.S. stocks dipped as well in the early session: Coinbase slipped 0.6%, bitcoin holder Strategy dropped 2.3%, and Marathon Digital, the miner, edged down 0.2%.
Macro themes shaped the session. The dollar pulled back before crucial U.S. data, while bitcoin slipped, tracking losses in other risk-on assets. 5
But it’s not all headed in a single direction. Softer U.S. data could put rate-cut wagers back on the table and give bitcoin a floor. Another round of ETF inflows? That would be a clear sign institutional demand hasn’t dried up yet.
There’s also the flip side—if inflation heats up, or wage growth refuses to slow, yields might rise and speculative bets could get hit again. And then there’s regulation. Just this week, traders slashed leverage fast after a flurry of regulatory headlines shifted the mood.
Coming up, traders are eyeing the U.S. January jobs report on Feb. 11, followed by the January CPI print on Feb. 13—both set for 8:30 a.m. ET. Monday’s ETF flow numbers are also on the radar, as investors look for evidence that the weekend’s quiet tone persists. 6
