The price of bitcoin saw a notable recovery yesterday after a sharp decline in the previous 24 hours, momentarily climbing above $71,000, which represents a remarkable increase of $11,000 from its earlier low of $60,000 during the session. The decision came after a period of turbulent market activity, where the top digital asset broke through important psychological support levels in a matter of hours. On Thursday, February 5, Bitcoin experienced a significant drop as global financial markets faced turmoil, with major indices falling sharply and prompting investors to retreat from riskier assets. The sudden downturn was linked to broader economic challenges, underscored by underwhelming earnings announcements and notable declines in tech shares, leading investors to pursue more secure options.
Data revealed that the value of a certain cryptocurrency has fallen to its lowest point since late 2024, indicating an increasing bearish sentiment among market participants. The digital asset has seen a drop of over 40% from its high of more than $126,000, reached in October 2025, underscoring the severity of the market correction. In a dramatic turn of events, the price of bitcoin plummeted yesterday, triggering a surge in forced liquidations that resulted in over $1 billion in positions being eradicated within the last 24 hours. The majority of these were long positions, which faced automatic close-outs as the cryptocurrency breached critical levels.
After Thursday’s decline, Bitcoin saw a rebound on Friday, with prices climbing from the $60,000 range back above $70,000, reflecting a significant recovery of nearly 15% from the day’s lowest levels. Significant increases were noted in cryptocurrency-related equities as well. Strategy shares surged 21% today, while Coinbase, Circle, and Robinhood saw their shares rise between 10-15%. Bitcoin-linked equities experienced significant increases, with MARA Holdings surging 21.03% to reach $8.14, while TeraWulf rose 19.55% to $14.25. Riot Platforms surged 16.54% to reach $14.05, while Cipher Mining climbed 15.47% to hit $14.66. Bitmine Immersion Technologies surged by 15.43% to reach $20.08, while Core Scientific experienced a rise of 10.43%, climbing to $16.36.
Neptune Digital Assets experienced a notable increase, climbing 11.43% to reach $0.78 In a dramatic turn of events, the iShares Bitcoin Trust, a spot Bitcoin ETF managed by BlackRock, shattered its daily trading volume record, with approximately $10 billion worth of shares exchanged. This increase in activity happened even with a notable price decrease of 13%, marking it as the second-largest one-day drop since the fund began.