In this video: Sometimes it really does feel like we live in a simulation when it comes to the #Bitcoin chart. Video by Benjamin Cowen.
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Bitcoin is currently trading at approximately $70,797 (€58,314) as of February 7, 2026. After reaching a fresh 2026 low of nearly $60,000 earlier this week, the price staged a violent 15% recovery to reclaim the $70,000 level. Despite this bounce, market sentiment remains cautious as Bitcoin has erased nearly all gains made since the 2024 U.S. election, leading some analysts to warn of a potential "death spiral" or a broader cyclical reset.
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Bitcoin Insights Today
-Volatility Shock: Bitcoin suffered one of its most dramatic daily plunges since 2022 this week, falling 13% in a single day and losing roughly $10,000 in under 24 hours.
-Institutional Shift: Institutional demand has reportedly reversed, with U.S. ETFs becoming net sellers in 2026 after massive inflows in 2025. Bitcoin has also fallen below the $76,037 average holding cost for MicroStrategy, raising fears of further institutional selling pressure.
-Political Uncertainty: The "Trump rally" has largely evaporated as the market grapples with the actual implementation of crypto-friendly policies, such as the national bitcoin stockpile, which has not yet resulted in the aggressive government buying some investors expected.
-Operational Error: A South Korean crypto firm reportedly sent out $44 billion in Bitcoin accidentally today, adding to the day's market jitters.
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