On February 9, Bitcoin recorded a significant rebound from last week's lows at $60,000, climbing above $71,000 earlier.
Despite the recent pause in institutional interest for BTC and crypto liquidations, predictions for 2026 continue to remain optimistic amidst ongoing regulatory developments and crypto adoption.
Bitcoin price action
At the moment of writing this article, BTC is trading above $69,000, after reaching prices of over $71,000 earlier.
The general crypto market is still volatile, down by over 3% in the past 24 hours, but the current CMC Fear and Greed Index points at 9, still in the Extreme Fear zone, but climbing from last week's minimum at 5.
On February 6, the Fear and Greed Index dropped to its lowest value in history, and BTC dropped to $60,000 levels.
Key reasons for BTC's price drop last week
The most important reasons why Bitcoin recorded a sharp price drop last week include:
- Outflows from BTC ETFs, which reduced key sources of institutional liquidity
- Ongoing crypto liquidations that led to selloffs and broader deleveraging across markets
ETF outflows
During the past week, from February 2 to 6, the US-based BTC ETFs recorded outflows of over $318 million, with the biggest outflow day being on February 4 at almost $545 million, according to data from SoSoValue.
However, the crypto products saw a day of inflows on February 6, above $371 million, following three consecutive outflow days, signaling a potential rebound in institutional interest in BTC.
Meanwhile, ETH ETFs saw three consecutive outflow days last week, starting on February 4, with the biggest outflow day on February 5, above $80 million.
Crypto liquidations
Crypto liquidations continued last week as well, and major whale liquidations have triggered cascading selloffs and broader deleveraging.
However, in the past 24 hours, crypto liquidations have slowed down, with CoinGlass showing over $371 million in liquidations, mostly long positions.
Bitcoin saw over $199 million in liquidations, but mostly shorts (above $117 million) in the past 24 hours.
The CMO at Bitget, Ignacio Aguirre, believes that these market dynamics don't signal a structural failure, but have had some key benefits:
- Purging excessive speculation
- Creating a healthier foundation for sustainable future growth
Market triggers in 2026
Despite the recent market volatilty, Bitget's CMO points out various reasons why the industry should maintain optimism this year.
Rising global adoption
Crypto market's performance will be supported by growing global adoption and continuous technological innovation that boosts:
- Utility
- Scalability
- Institutional integration
In 2025, Bitcoin and crypto saw rising global adoption in the US, Europe, and other regions, with a positive outlook for the future.
It's also worth noting that, despite the recent FUD, BTC-centric company Strategy continues accumulating BTC, and Binance, the biggest crypto exchange, continues adding BTC to its SAFU fund, showing support for the core asset of the crypto ecosystem.
Ongoing regulatory developments
The recent Clarity Act in the US and advancing market structure legislation will also drive the markets by:
- Offering clear compliance frameworks
- Reducing uncertainty
- Making crypto more appealing to institutions and traditional funds
According to the latest reports, the White House will hold a meeting on February 10 that could unlock the entire crypto market structure bill.
BTC and ETH bullish targets
Bitget's CMO also delivered bullish predictions for Bitcoin's price in 2026, seeing the digital asset on the path to $150,000 - $180,000 if key conditions are met:
- ETF flows stabilize
- Macro conditions improve
- Liquidity driven by stablecoins grows
Aguirre sees ETH reaching levels between $5,000 and $6,000 this year due to:
- Ethereum's technological leadership
- Continued progress in L2 scaling and expanding DeFi activity
- Renewed institutional capital
Overall, Bitget has reiterated the conclusion that the latest sharp market volatilty was a natural correction and a stress test, while highlighting the resilience and maturation of the crypto ecosystem.
Digital assets are on the right path for a meaningful rebound in 2026, amidst a convergence between liquidity, utility, and regulatory clarity.
