The price of Bitcoin experienced a significant rebound on Friday, overcoming a sharp decline from the previous 24 hours, briefly reaching above $71,000. This marked an impressive recovery of $11,000 from its earlier low of $60,000 within the same session.
This surge occurred after several tumultuous market sessions during which the leading cryptocurrency breached critical psychological support levels in a matter of hours. On Thursday, February 5, Bitcoin’s price fell dramatically as global financial markets weakened, with major stock indices experiencing steep declines that prompted investors to move away from riskier assets.
The abrupt downturn can be attributed to broader macroeconomic pressures, including disappointing earnings reports and significant losses in technology stocks, which heightened a flight to safety among investors.
Data compiled on Thursday indicated that Bitcoin’s value had declined to its lowest point since late 2024, reflecting a growing bearish sentiment within the market.
This digital asset has retreated over 40% from its all-time high of more than $126,000, achieved in October 2025, highlighting the magnitude of the downturn.
Additionally, during the price decline, forced liquidations surged, resulting in more than $1 billion in positions being wiped out in the past 24 hours, primarily affecting long positions that faced automatic closures as BTC breached significant thresholds.
Recovery in Crypto Stocks as Bitcoin Price Gains Momentum
Despite losses on Thursday, Bitcoin’s rebound on Friday allowed prices to climb from the $60,000 realm back above the $70,000 threshold, signifying a nearly 15% recovery from intraday lows.
Crypto-related equities also experienced notable gains. Shares of MicroStrategy ($MSTR) increased by 21% in a single day, while Coinbase ($COIN), Circle ($CRCL), and Robinhood ($HOOD) saw their stock prices rise by 10-15%.
Bitcoin-related stocks posted sharp gains as well, led by Marathon Digital Holdings (MARA), which surged 21.03% to $8.14, and TeraWulf (WULF), which climbed 19.55% to $14.25. Riot Platforms (RIOT) gained 16.54%, rising to $14.05, while Cipher Mining (CIFR) increased by 15.47% to $14.66.
Bitmine Immersion Technologies (BMNR) appreciated by 15.43% to $20.08, and Core Scientific (CORZ) saw a 10.43% increase, bringing its price to $16.36. Additionally, Neptune Digital Assets (NDA) advanced by 11.43%, reaching $0.78.
During the downturn, the iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF managed by BlackRock, set a record for daily trading volume, with approximately $10 billion worth of shares traded—even as its price fell 13%, marking the second-worst single-day decline since the fund’s inception.
As of the latest data, Bitcoin is trading at $70,661.
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