New York, Feb 10, 2026, 13:36 (EST) — Regular session
- Bitcoin dropped below the key $70,000 level again following a volatile period for risk assets.
- Spot bitcoin ETFs listed in the U.S. attracted net inflows Monday, yet the price remained unstable.
- Traders are eyeing U.S. jobs and inflation reports due later this week, searching for signals on where interest rates might head.
Bitcoin dropped roughly 2% on Tuesday, settling at $68,852 after another unsuccessful attempt to break past $70,000, while U.S. stocks remained steady. Its price fluctuated between $67,958 and $71,029 during the day. Meanwhile, Ether plunged nearly 6%, falling to $2,006.
This shift is significant since bitcoin is behaving like a high-beta risk asset once more—rising fast but dropping even faster—right as investors brace for a packed U.S. data week that could shake up rate expectations.
Weaker economic data could reignite speculation about Federal Reserve rate cuts in late 2026. On the flip side, a strong inflation report would push financial conditions tighter, squeezing those market sectors reliant on low borrowing costs.
Money is flowing back into spot bitcoin ETFs—the U.S.-listed funds that own bitcoin outright—despite the token’s flat price action. Farside Investors reported $144.9 million in net inflows on Feb. 9, driven mainly by $130.5 million pouring into Grayscale’s Bitcoin Mini Trust (BTC). At the same time, BlackRock’s iShares Bitcoin Trust (IBIT) saw $20.9 million slip out. (Farside Investors)
Matthew Sigel, who leads digital assets research at VanEck, said this week that “Bitcoin’s February selloff reflects orderly deleveraging rather than capitulation.” He highlighted that the drop came from a pullback in borrowed bets, not a chaotic rush to exit. (ETF & UCITS Fund Manager | VanEck)
Crypto-linked stocks showed a mixed performance in regular U.S. trading. Coinbase dropped roughly 1.7%, and Strategy declined close to 2%. At the same time, the biggest spot bitcoin ETFs followed suit, with IBIT falling around 2% and Fidelity’s FBTC slipping by a similar margin.
Bitcoin miners split today: TeraWulf and Cipher Mining climbed, but Marathon Digital took a hit. Morgan Stanley started coverage on several miners this week, suggesting that some could gain from reallocating power and data-center resources to AI workloads. (Investors)
Still, the downside risk is clear. Analyst Ed Engel from Compass Point flagged the possibility that bitcoin might “retest the $60,000 level.” Traders link this to thin liquidity and fresh pressure on risk assets if interest rates climb. (Barron’s)
The next key events on the U.S. calendar are the Employment Situation report for January, set for Wednesday, Feb. 11, and the January Consumer Price Index, dropping on Friday, Feb. 13. Both will be released at 8:30 a.m. ET, per the Labor Department’s schedule. (Bureau of Labor Statistics)
Traders are keeping an eye on whether bitcoin can push back above $70,000 and maintain that level, while also monitoring if ETF flows remain positive as key U.S. data drops.
