📉 Bitcoin (BTC) — Market Update (Feb 6, 2026)
🔹 Price Movement:
• Bitcoin experienced a sharp correction and volatile price swings today. �
• BTC slipped below key levels and traded around ~$64,000 – $65,000 after testing lows near $60,000. �
• This level is its lowest since late 2024, signalling strong bearish pressure. �
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📊 Market Context:
• The crypto market overall is in a downtrend, with Bitcoin among the top assets losing value as risk sentiment drops. �
• Heavy selling, leveraged liquidations and macro uncertainty contributed to this decline, marking a weak day not seen since previous major drops like the FTX crash. �
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🚨 Market Impact:
• Difficult market conditions have also hit industry players — e.g., Gemini exchange announced staff cuts due to ongoing market slump. �
📈 Short-Term Insight:
• Despite the downturn, BTC showed some rebound from daily lows, indicating that short-term volatility remains high
⚠️ Trader Sentiment:
• Current sentiment in crypto markets is tilted toward “fear”, with many traders cautious due to steep drawdowns and volatility
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📌 Bitcoin Update – 6 Feb 2026
🔹 Current BTC Price: Around $64,000 – $65,000 after a volatile session.
🔹 Trend: Bitcoin dipped near $60,000, its lowest in over a year, before bouncing.
🔹 Market Mood: Strong selling pressure, heavy liquidations & risk-off sentiment.
🔹 Industry Impact: Crypto firms feel pressure — e.g., workforce cuts at Gemini.
🔹 Outlook: Market extremely volatile — caution advised.
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