Bitcoin rebounds after dropping to $60,000

Bitcoin, the world’s largest cryptocurrency, bounced from a 16-month low on Friday, February 6, 2026, after testing the key $60,000 level.

Bitcoin was last up 3.3% to $65,198.20, clawing back its losses after having slid 5% to hit a low of $60,008.52 earlier in the session.

Still, bitcoin remains pinned near its weakest level since October 2024, a month before Donald Trump won the United States presidential election, having signalled his intention to support crypto on the campaign trail.

The head of research at brokerage Pepperstone in Melbourne, Chris Weston, told Reuters: “Bitcoin’s been going down since October (2025), maybe you could ask if it was the canary in the coalmine, or a coincidence.

“A lot of these big crowded positions are being unwound very, very quickly.”

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Ether was last up nearly 4% at $1,919.37, having similarly slid close to a 10-month low of $1,751.94 earlier in the session.

The global crypto market has lost some $2 trillion in value since hitting a peak of $4.379 trillion in early October, CoinGecko data showed, with more than $1 trillion wiped out over the past month alone.

Bitcoin was on track to shed 15% for the week, taking its losses for the year so far to 26%. Meanwhile, ether was headed for a weekly decline of 16%, with losses of nearly 36% so far this year.

The Star