{"id":7727,"date":"2026-02-06T11:50:27","date_gmt":"2026-02-06T11:50:27","guid":{"rendered":"https:\/\/friscotimes.org\/?p=7727"},"modified":"2026-02-07T17:44:39","modified_gmt":"2026-02-07T17:44:39","slug":"down-arrow-button-icon-9","status":"publish","type":"post","link":"https:\/\/friscotimes.org\/?p=7727","title":{"rendered":"Down Arrow Button Icon"},"content":{"rendered":"


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First, the good news. Bitcoin ticked up 5% this morning to $65.9K per coin.<\/p>\n

That\u2019s it. That\u2019s all the good news about Bitcoin today. Everything else is bad news. The original cryptocurrency has lost 50% of its value, peak to trough, falling from a high of about $125K per coin in October 2025 to its low yesterday of $61.3K.<\/p>\n

Shares in Strategy, Michael Saylor\u2019s \u201cBitcoin treasury company,\u201d which offers investors exposure to Bitcoin via its stock, fell 17% yesterday and are down 75% from their peak last year. At $65.9K, the price of Bitcoin is now well below the average price Strategy has paid for acquiring its hoard, $76K. The company\u2019s market cap is now billions below the value of the Bitcoin it holds. On its Q4 earnings call<\/a> yesterday the company said it could cover all its convertible debt even if Bitcoin fell 90% in value, and that it had enough cash to honor its dividends for the next two and a half years.<\/p>\n

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The reason Bitcoin is in decline? The whales are selling up, according to Jefferies analyst Andrew Moss. \u201cLarge BTC holders are selling into weakness,\u201d he told clients in a note this morning. \u201cWhales transitioned to net sellers over the weekend after accumulating since early January.\u201d Here\u2019s his chart:<\/p>\n

\n
<\/div>\n<\/figure>\n

In addition, retail investors who had bought into Bitcoin via exchange-traded funds (ETFs) offered by traditional finance platforms are also selling. \u201cSpot BTC ETF net outflows during the weeks of Jan. 19 and Jan. 26 marked the second and third largest since inception and were followed by large net outflows on Feb. 4,\u201d he said.<\/p>\n

\n
\"\"<\/div>\n<\/figure>\n

\u201cThe all-too-familiar \u2018Crypto Winter\u2019 chatter has emerged yet again,\u201d he wrote. \u201cWe see few bullish indicators that suggest we may be approaching the bottom,\u201d particularly as there are no signs that small- and medium-size holders are trying to buy the dip, he said. <\/p>\n

His gloom was shared by many.<\/p>\n

Yesterday\u2019s performance\u00a0was Bitcoin\u2019s \u201cworst daily decline since November 2022,\u201d Deutsche Bank\u2019s Henry Allen noted this morning. That was the month Sam Bankman-Fried\u2019s FTX crypto exchange collapsed, taking with it billions in people\u2019s savings.<\/p>\n

At UBS, Paul Donovan was typically terse: \u201cCrypto is not an asset, and is held by a tiny portion of society. It is unlikely that consumer behavior will change because of recent market moves.\u201d <\/p>\n

Chevy Cassar, the author of today\u2019s Milk Road email, a respected crypto newsletter, said: \u201cI\u2019ll admit it: This sucks.\u201d And it will get worse, he said: \u201cThe market is likely set to continue down, with history telling us that these assets will hit bottom anywhere in the next one to 11 months.\u201d<\/p>\n

\u201cMarket is near exhaustion, peak fear territory,\u201d agreed Fabian Dori, chief investment officer at Sygnum Bank, which bills itself as \u201cthe world\u2019s first regulated digital asset bank,\u201d in an email sent to Fortune<\/em>.\u00a0<\/p>\n

Here\u2019s a snapshot of the markets ahead of the opening bell in New York this morning:<\/strong><\/p>\n

    \n
  • S&P 500<\/strong> futures were up 0.54% this morning. The last session closed down 1.23%.\u00a0<\/li>\n
  • The STOXX Europe 600<\/strong> was up 0.29% in early trading.\u00a0<\/li>\n
  • The U.K.\u2019s FTSE 100<\/strong> was up 0.21% in early trading.\u00a0<\/strong><\/li>\n
  • Japan\u2019s Nikkei 225<\/strong> was up 0.81%.\u00a0<\/strong><\/li>\n
  • China\u2019s CSI 300<\/strong> was down 0.57%.\u00a0<\/strong><\/li>\n
  • The South Korea KOSPI <\/strong>was down 1.44%.\u00a0<\/strong><\/li>\n
  • India\u2019s Nifty 50<\/strong> was up 0.2%.<\/li>\n
  • Bitcoin<\/strong> declined to $65.9K.<\/li>\n<\/ul>\n<\/div>\n
    \n
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    First, the good news. Bitcoin ticked up 5% this morning to $65.9K per coin. That\u2019s it. That\u2019s all the good news about Bitcoin today. Everything else is bad news. 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