New York, Feb 8, 2026, 12:04 EST — Market’s done for the day
- Bitcoin climbed roughly 2.2% to trade near $70,523 on Sunday, moving between approximately $68,649 and $71,450 during the session.
- Friday saw U.S.-listed crypto proxies surge, with Coinbase climbing roughly 13% and Strategy rallying 26%.
- This week, traders brace for a loaded slate: U.S. retail sales, jobs figures, CPI data on deck, along with earnings out of Robinhood and Coinbase.
Bitcoin hovered at $70,523 late Sunday, up roughly 2.2% and still trading over the $70,000 line, as traders watched to see if last week’s bounce could weather more macro news. Ether advanced 2.1% to $2,084. U.S.-listed crypto stocks rallied Friday—Coinbase popped 13%, Strategy ran up 26%. Miners Marathon Digital and Riot Platforms closed out the week higher by 22% and 20% apiece.
Why does the bounce matter? Liquidity’s been drying up, and bitcoin’s price swings have turned choppier, making the market fast to react when risk sentiment changes. Thomas Probst, research analyst at Kaiko, flagged that bitcoin’s average 1% market depth—the volume on order books within 1% of spot—has dropped to about $5 million. That’s a slide from over $8 million in 2025, and, as he put it, “reduced liquidity” means “sharper and more erratic price movements.” Some traders think a bottom is in sight. James Butterfill at CoinShares called bitcoin “very close to a bottom.” Still, Jefferies’ Andrew Moss isn’t buying the optimism, saying there are “few bullish indicators” even after the bounce. Reuters
Catalysts are coming in rapid succession. After a short U.S. government shutdown pushed back some major data drops, traders are eyeing December retail sales landing Tuesday, the January jobs report on Wednesday, and January CPI on Friday. Earnings are stacked too, with Robinhood set for Feb. 10, followed by Coinbase on Feb. 12.
Bitcoin steadied after Friday’s whiplash, vaulting back above $70,000 from a slide that touched $60,017—marking a 16-month bottom—as U.S. tech stocks and precious metals snapped back from a wave of risk aversion. “A day of consolidation for risk assets,” was how Scotiabank’s Shaun Osborne summed it up. Still, options positioning stayed cautious: Derive.xyz flagged heavy put open interest stacked between $60,000 and $50,000 strikes for the Feb. 27 expiry, and Derive’s Sean Dawson noted “demand for downside protection is extreme.” Reuters
Bitcoin never sleeps, but sentiment in the broader markets gets its next gut check when Wall Street’s back in action on Monday. Crypto-linked stocks surged Friday—those gains could vanish quickly if bitcoin stumbles or if rates markets swing again.
Not all equity proxies trade on the same triggers. Coinbase, for example, tends to swing on changes in trading activity and volatility. Strategy’s shares—heavy on bitcoin holdings—often act like a levered bet on the token itself. Miners? Their stocks can overshoot moves as investors recalculate margins.
The flipside? Not hard to picture. Sparse order books mean even a bit of selling can quickly snowball into a drop. And if U.S. data comes in hot, pushing bond yields up, anything tied to “risk-on” trades — bitcoin, for example — can take a hit, long-term story or not.
Bitcoin’s climbed back over a threshold traders have been watching closely. Still, the $60,000 mark isn’t out of play yet.
Crypto-tied stocks will be in focus when markets open Monday. After that, Tuesday brings retail sales and earnings from Robinhood. The postponed jobs data lands Wednesday, then Coinbase reports Thursday. Friday’s CPI print closes out a packed week, with the Feb. 27 options expiry still looming as another shot of volatility.
