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06.02.202610:32 Forex Analyse & Reviews: Are there upsides to Bitcoin falling to $60,000?

Relevance up to 01:00 2026-02-07 UTC--5

The current situation in the crypto market is certainly causing grave concern among many investors. However, the BTC sell-off appears to be more an issue of confidence than a reflection of fundamental problems with the technology or its long?term potential. Three key factors — ETF outflows, reduced liquidity, and a slowdown in regulatory progress — create negative dynamics, but this is not comparable to macro shocks that could undermine the very foundation of digital assets.

Exchange Rates 06.02.2026 analysis

Bitcoin's decoupling from traditional assets such as gold and stocks during the risk-off period indicates it is developing a standalone role in financial markets. Whereas BTC used to be viewed either as "digital gold" or as an asset that correlated with stocks, it is now showing unique behavior, effectively isolated amid uncertainty. This could be a temporary phenomenon or a sign that a new, independent investment niche is emerging.

Despite a significant drop from the October 2025 peak — more than 50% and the longest drawdown in recent years — it is important to keep perspective. The numbers speak for themselves: even after the correction, Bitcoin's price remains an impressive 370% above early-2023 levels. That underlines how dynamic the market is and how quickly investor sentiment can change, but it also points to the asset's long?term resilience.

Therefore, the current situation should not be called a collapse but rather a reset. This period is a kind of test of Bitcoin's maturity. Its ability to pass this test successfully will determine whether it can regain the trust of regulators and institutional investors and move beyond being purely a speculative instrument. Restoring those links will be a key factor for further growth and for BTC's deeper integration into the global financial system.

Trading recommendations

Exchange Rates 06.02.2026 analysis

Bitcoin

Buyers are currently targeting a return to $68,900, which would open a direct path to $72,100 and then to $74,600. The farther target is around $77,300; a break above that would signal attempts to restore the bull market. In case of a decline, buyers are expected at $64,300. A move back below that area could quickly push BTC toward $60,100. The far downside target is $56,100.

Exchange Rates 06.02.2026 analysis

Ethereum

A clear hold above $2,017 opens a direct path to $2,159. The farther target is around $2,316; surpassing that would indicate strengthening bullish sentiment and renewed buyer interest. In case of a decline, buyers are expected at $1,891. A move back below that area could quickly push ETH toward $1,768. The far downside target is $1,644.

What's on the chart

  • The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
  • The green line shows the 50-day moving average.
  • The blue line is the 100-day moving average.
  • The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Jakub Novak,
Analytical expert of InstaSpot
© 2007-2026
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