Bitcoin Price Outlook: Oversold Market Sets the Stage for a Technical Bounce
Bitcoin remains under strong bearish pressure as technical indicators signal extreme oversold conditions.
Market resilience and retail interest could reshape the future of Bitcoin and crypto investments.
Bitcoin is entrenched in a bear market, according to new onchain research from Cryptoquant, which shows weakening demand, contracting liquidity, and deteriorating technical structure across the network.
February 6, 2026, 8:30 pmOn-chain data shows the Bitcoin Realized Loss has spiked to its highest level since November 2022 as investors have capitulated after the price crash. Bitcoin Realized Loss Has Hit A Value Of $889 Million In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin Realized Loss.
February 6, 2026, 8:30 pmBitcoin remains under strong bearish pressure as technical indicators signal extreme oversold conditions.
Global markets staged a broad rebound on February 6 after a sharp sell-off the previous day pushed stocks, crypto, and commodities into deeply oversold territory. Bitcoin recovered to around $70,000, while US equities, gold, and silver also advanced, driven by technical buying and easing near-term macro fears.
On Feb. 6, 2026, bitcoin rebounded 15% from the previous day of just below $60,000 to over $71,000, restoring its $1.4 trillion market cap after a sharp selloff. Liquidation Engine: The Mechanics of the Rebound On Feb.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Strategy (MSTR), BitMine (BMNR), and Coinbase (COIN) helped lead the crypto stock rebound as Bitcoin bounced back from a dip near $60K.
While Bitcoin (BTC), Ethereum (ETH), and most cryptocurrencies are struggling with overwhelmingly negative market sentiment, XRP appears to be the only coin on which investors have suddenly turned bullish.
The error was quickly corrected, but not before Bithumb users sold off billions in Bitcoin, temporarily crashing its listed price.
Bitcoin’s market shook hard on a single day of trading, sending prices tumbling to $65,000 and nerves flaring. Reports note the move wiped out a big chunk of recent gains and pushed many recent buyers into loss. Price action this sharp rarely comes without a story behind it — and this one had several threads pulling at once.
Bitcoin and ether ETFs remained under intense selling pressure, extending February’s sharp drawdown. XRP and solana ETFs, however, continued to attract fresh capital, offering rare pockets of strength.