Wednesday, 11 February 2026

Bitcoin: Dubious Speculation

In this video: we talk about the Bitcoin bear market and speculate on what Bitcoin price action is doing. Video by Benjamin Cowen.

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As of February 11, 2026, Bitcoin (BTC) is trading near $68,465, attempting to recover after a volatile start to the month that saw prices plummet to local lows of $60,000. The market is currently characterized by "Extreme Fear," with the Fear & Greed Index hitting a low of 11, a level not seen since late 2022. Buy Bitcoin >>



Bitcoin Insights

-Macro Outlook: Markets are awaiting the U.S. January Nonfarm Payrolls report due today, which is expected to drive further volatility across risk assets.

-Institutional Shift: Grayscale recently noted that Bitcoin is increasingly behaving like a high-risk growth asset rather than "digital gold," a sentiment echoed by market analysts following recent geopolitical and interest rate uncertainties.

-U.S. Government Stance: Despite previous hopes for a "Strategic Reserve," recent developments suggest the U.S. Treasury is holding but not actively buying more Bitcoin, cooling some retail expectations for a sovereign-led price floor.

-Mining Pivot: Major miners are aggressively pivoting infrastructure toward AI power centers to offset declining "revenue per terahash," which has fallen to $35. Buy Bitcoin >>