Bitcoin has settled at over $70,000: should we expect further growth?
9 February 09:41
On Monday, February 9, 2026, Bitcoin traded above $70,000 after unprecedented turbulence at the end of last week.
According to "Komersant Ukrainian", this was reported in a Bloomberg publication .
In Asian markets, the value of Bitcoin fluctuated around this mark, which contrasts sharply with last week’s events, when the cryptocurrency fell sharply to its lowest level in over a year and then recovered just as quickly.
Thus, Bitcoin’s fall to $60,033 at the end of last week was its lowest point since October 2024. However, it was this collapse that became a “litmus test” for investors:
- the liquidation of speculators — the sharp fall “washed away” excessive leverage and weak players, clearing the market for further movement;
- the $60,000 level officially confirmed its status as the main psychological and technical “bastion”;
- the return to $70,000 in less than 48 hours indicates enormous pent-up demand.
Traders remain cautious
“Crypto markets have stabilized, but the market is still not sure that the worst is behind us,” notes Caroline Moron, co-founder of Orbit Markets.
According to her, despite the White House’s friendly attitude towards cryptocurrencies and their growing institutional adoption, Bitcoin remains vulnerable to high volatility and is not yet able to fully perform the role of “digital gold” in periods of geopolitical uncertainty.
Investor optimism
It should be noted that on February 6, US Bitcoin exchange-traded funds recorded an inflow of $221 million as investors sought to buy assets after a sharp sell-off. This means that big money saw the price as a convenient springboard.
According to Sean McNulty of FalconX, the current market sentiment can be described as cautiously constructive, as last week’s turbulence “blowed away the speculative froth” and allowed the market to trade on stronger fundamentals.
“We are seeing a shift from speculative play to accumulation on strong fundamentals,” says Sean McNulty of FalconX.
Will we see $81,000 in the near future?
Analysts at Orbit Markets and IG Australia point out that the “stress test” has opened the door to an optimistic scenario:
- Critical zone ($73,000–$75,000): This is the last serious barrier. If Bitcoin closes the daily candle above $75,000, a “clear sky” phase will begin.
- Target $81,000: Assuming the current momentum of capital inflows into ETFs continues, this level could be reached by the end of this week.
- Main risk: As long as the price stays above the 200-week average ($58,000), the bear market is officially over.
Thus, last week, Bitcoin not only survived, it became stronger. The next few days will be decisive: either we will see a new historical record, or the market will enter a phase of prolonged consolidation before a big jump.
