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Crypto Daybook Americas Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Recovering bitcoin still fac Crypto Daybook Americas Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Recovering bitcoin still fac

Recovering bitcoin still faces macro risks

Author: Coindesk
Source: Coindesk
2026/02/06 20:15
7 min read
Crypto Daybook Americas
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Recovering bitcoin still faces macro risks

Your day-ahead look for Feb. 6, 2026

By Omkar Godbole|Edited by Sheldon Reback
Feb 6, 2026, 12:15 p.m.
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Bitcoin's route to recovery faces stormy waters. (Pixabay modified by CoinDesk)

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You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will kickstart your morning with comprehensive insights. If you're not already subscribed to the email, click here. You won't want to start your day without it.

By Omkar Godbole (All times ET unless indicated otherwise)

Friday's crypto markets are a sea of green, bouncing from yesterday's brutal drubbing in a classic oversold rebound. But real risks linger, threatening any lasting recovery.

STORY CONTINUES BELOW
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Bitcoin has climbed back to $65,000 after flirting with $60,000, with BlackRock ETF action hinting at capitulation, that is, long-term holders dumping at a loss, often the bear market's final gasp. The broader market has perked up, too, with XRP, SOL, ETH and other tokens regaining some poise, while the CoinDesk 20 Index added nearly 9% since midnight UTC.

Still, put options on bitcoin remain in demand, signaling persistent downside fear. It makes sense for a couple of key reasons: First, macro risks have eased, but aren't gone. President Donald Trump signed a funding bill Tuesday to end the government shutdown, but the Department of Homeland Security cash runs dry in eight days, which means there could be another circus by Feb. 14.

Meanwhile, oil prices are buoyant on both sides of the Atlantic on concerns the Iran-U.S. tensions will escalate. A spike there could add to global inflation, triggering a flight to safety and hammering risk assets like crypto.

Most critically, the recent crash has pushed many holders and digital-asset treasuries underwater. Many of those may capitulate and become marginal sellers in the market, potentially capping rallies. Plus, confidence tends to rebuild only slowly after a crash, which is why snapback recoveries always crawl.

These things taken together indicate that the market may not be out of the woods yet. Stay alert!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today

What to Watch

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

  • Crypto
    • Feb. 6, 12 pm.: Stellar to hold a 2025 Year in Review Webinar on X.
  • Macro
    • Feb. 6, 8:30 a.m.: Canada unemployment rate for January (Prev. 6.8%)
    • Feb. 6, 10 a.m.: Canada Ivey PMI index for January (Prev. 51.9)
    • Feb. 6, 10 a.m.: U.S. Michigan Consumer Sentiment preliminary for February (Prev. 56.4); Michigan inflation expectations (Prev. 4%)
  • Earnings (Estimates based on FactSet data)
    • Nothing scheduled.

Token Events

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

  • Governance votes & calls
    • Feb. 6: Chainlink to host an X Spaces session on “Building with the Chainlink Runtime Environment.”
  • Unlocks
    • Feb. 6: Hyperliquid HYPE$34.33 to unlock 2.79% of its circulating supply worth $287.68 million.
    • Feb. 6: BERA$0.3875 to unlock 41.7% of its circulating supply worth $26.87 million.
  • Token Launches
    • Feb. 6: MOVA (MOVA) to be listed on LBank, BingX, KuCoin, MEXC and others.

Conferences

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

  • Day 2 of 2: Digital Assets Forum (London)

Market Movements

  • BTC is up 4.55% from 4 p.m. ET Thursday at $66,022.00 (24hrs: -6.74%)
  • ETH is up 4.14% at $1,924.90 (24hrs: -7.3%)
  • CoinDesk 20 is up 4.75% at 1,905.03 (24hrs: -7.49%)
  • Ether CESR Composite Staking Rate is up 39 bps at 3.48%
  • BTC funding rate is at -0.0142% (-15.5862% annualized) on Binance
  • DXY is unchanged at 97.81
  • Gold futures are down 0.19% at $4,880.30
  • Silver futures are down 4.39% at $73.35
  • Nikkei 225 closed up 0.81% at 54,253.68
  • Hang Seng closed down 1.21% at 26,559.95
  • FTSE is up 0.01% at 10,309.76
  • Euro Stoxx 50 is up 0.27% at 5,941.80
  • DJIA closed on Thursday down 1.20% at 48,908.72
  • S&P 500 closed down 1.23% at 6,798.40
  • Nasdaq Composite closed down 1.59% at 22,540.59
  • S&P/TSX Composite closed down 1.77% at 31,994.60
  • S&P 40 Latin America closed down 1.01% at 3,616.07
  • U.S. 10-Year Treasury rate is down 1.8 bps at 4.192%
  • E-mini S&P 500 futures are up 0.3% at 6,841.00
  • E-mini Nasdaq-100 futures are up 0.36% at 24,740.50
  • E-mini Dow Jones Industrial Average Index futures are up 0.16% at 49,075.00

Bitcoin Stats

  • BTC Dominance: 58.77% (+0.47%)
  • Ether-bitcoin ratio: 0.02917 (0.43%)
  • Hashrate (seven-day moving average): 913 EH/s
  • Hashprice (spot): $29.76
  • Total fees: 5.59 BTC / $377,330
  • CME Futures Open Interest: 115,230 BTC
  • BTC priced in gold: 13.5 oz.
  • BTC vs gold market cap: 4.4%

Technical Analysis

BTC is closing on the pivotal 200-week SMA support. (TradingView)
  • The chart shows bitcoin's weekly price swings in candlestick format since 2019.
  • Prices are rapidly approaching their average over 200 weeks, represented by the red line.
  • BTC has consistently put in bear-market bottoms around this average, suggesting the current pullback could be in its final stages.

Crypto Equities

  • Coinbase Global (COIN): closed on Thursday at $146.12 (-13.34%), +5.97% at $154.84 in pre-market
  • Circle Internet (CRCL): closed at $50.23 (-8.76%), +5.40% at $52.94
  • Galaxy Digital (GLXY): closed at $16.84 (-16.47%), +6.35% at $17.91
  • Bullish (BLSH): closed at $24.90 (-8.46%), +3.98% at $25.89
  • MARA Holdings (MARA): closed at $6.73 (-18.72%), +6.39% at $7.16
  • Riot Platforms (RIOT): closed at $12.06 (-14.71%), +5.14% at $12.68
  • Core Scientific (CORZ): closed at $14.81 (-8.27%), +1.99% at $15.11
  • CleanSpark (CLSK): closed at $8.27 (-19.13%), -3.33% at $7.99
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $35.23 (-12.56%), +2.24% at $36.02
  • Exodus Movement (EXOD): closed at $9.42 (-11.96%), -1.27% at $9.30

Crypto Treasury Companies

  • Strategy (MSTR): closed at $106.99 (-17.12%), +6.71% at $114.17
  • Strive (ASST): closed at $9.86 (-16.75%)
  • SharpLink Gaming (SBET): closed at $6.07 (-14.27%), +4.12% at $6.32
  • Upexi (UPXI): closed at $1.09 (-19.85%), +7.34% at $1.17
  • Lite Strategy (LITS): closed at $0.95 (-10.27%)

ETF Flows

Spot BTC ETFs

  • Daily net flows: -$434.1 million
  • Cumulative net flows: $54.3 billion
  • Total BTC holdings ~1.27 million

Spot ETH ETFs

  • Daily net flows: -$80.8 million
  • Cumulative net flows: $11.86 billion
  • Total ETH holdings ~5.87 million

Source: Farside Investors

While You Were Sleeping

Bitcoin surges back above $65,000 after $700 million wipeout in Asia whipsaw (Coindesk): Bitcoin rebounded above $65,000 after its worst one-day drop since November 2022. About $700 million in leveraged crypto positions were liquidated in a few hours,

Stocks reel as AI fears dominate market action (Reuters): Global markets retreated as a stock rout on Wall Street spread worldwide, with volatility gripping precious metals and cryptocurrencies while AI fears weighed on equities.

Weak earnings drag IREN, Amazon; bitcoin stocks rebound in pre-market (CoinDesk): IREN earnings were weaker than expected, while Amazon missed EPS estimates and beat on revenue.

Big tech to spend $650 billion this year as AI race intensifies (Bloomberg): The high spending projections raise concerns about energy supplies, prices, and the potential distortion of economic data, raising questions about whether the companies can afford the costs.

Crypto Daybook Americas
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

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