Global Markets Snapshot – Feb 9, 2026: BTC Tests Lower Supports Amid Extreme Fear 📉⚠️
Crypto (BTC/USDT Focus)
Bitcoin continues its grind lower, now at ~$68,775 (-2.17% today), slipping from the $75k zone in our last update and probing the 24h low of $68,420. This extends the downtrend we flagged previously—after failing to hold $73k support, we've seen accelerated selling, with price now well below all key MAs (MA7 ~$70.1k, MA25 ~$82.8k, MA99 ~$89.7k). The 1D chart reveals a series of lower highs, confirming bearish momentum post the $126k peak.
Key signals:
- RSI(6) at 33.79 → firmly oversold, hinting at exhaustion and potential reversal if buying emerges.
- Stochastic (K:35.83, D:27.97, J:51.55) → showing early signs of a bullish shift, but needs confirmation.
- Volume at 1.71B USDT on the dip suggests capitulation, but sentiment is in "Extreme Fear" per indices, with traders eyeing a possible $60k-64k bottom based on recent patterns.
Broader crypto down 10-20% weekly; alts suffering more as liquidity dries up. As noted before, this risk-off flush mirrors equity weakness, but oversold metrics scream opportunity for HODLers.
**Stocks (US/Global)**
S&P 500 closed around 6,932-6,964 on Feb 6, with futures edging higher today amid a global rally. Asian markets led the charge: Nikkei surged 3.9% to all-time highs post-PM Takaichi's election win, boosting reflation bets. Europe's Stoxx 600 up 0.5%, CAC 40 +0.4%, DAX +0.8%. US futures (Dow +0.2%, S&P +0.1%) signal optimism, driven by strong Taiwan exports (+69.9% YoY in tech/chips) and easing volatility. However, recent panic selling in growth/tech persists—watch jobs/inflation data this week for Fed clues. Overall, broadening rotation to value/small-caps as AI hype cools.
**Gold**
Safe-haven flows intact: Spot gold at ~$4,995-5,034/oz on Feb 9, up 0.55% today and +8.65% monthly. With geopolitical tensions, Chinese banks trimming US Treasuries, and sticky inflation, gold's inverse play to risk assets shines—hitting near all-time highs around $5,608 earlier. Silver stabilizing after volatility; expect continued bids if equities/crypto wobble.
**Global Economic & Geopolitical Backdrop**
Risk sentiment improving short-term: Japanese election sparks Asia rally, China reserves at $3.4T signal stability, but US-China trade frictions and Treasury warnings add caution. Crypto-specific: White House CLARITY Act talks tomorrow could sway regs; X chatter shows "extreme fear" (index at 6/100), with some calling $50k-60k as "real bottom" amid 50% drop from highs. Broader markets eye US payrolls/CPI for rate path—cooling jobs could fuel dovish pivots.
**Best Possible Trend Outlook**
Short-term: BTC's oversold state + improving global equities = potential relief rally to $75k if $68k holds and US open brings positivity. Watch for stochastic crossover.
Medium-term: Persistent downside risks if regs tighten or data disappoints—crypto/stocks correlated in risk-off, gold as hedge.
Long-term: BTC bull thesis (halving cycles, adoption) holds, but near-term volatility likely. Scale in on fear, avoid leverage.
My take: Echoing prior reviews, this dip feels like capitulation—accumulate quality if sentiment flips post-meetings. Gold remains the steady winner. What's your view on the bottom? Share below!
