BTC

Last weekend, Bitcoin experienced a sharp rebound after significant volatility. On Thursday (February 5), market panic intensified, causing Bitcoin to plunge over 10%, briefly dropping below $60,000, marking a 15-month low, while Ethereum also fell to around $1,750. This sharp decline was mainly due to substantial withdrawals of institutional funds, over $800 million in leveraged positions being liquidated, and extreme market panic.
Then on Friday (February 6), buying pressure returned, and Bitcoin strongly rebounded by about 10%, with prices returning above $70,000. Market analysis generally believes that this rebound is a technical oversold rebound, stemming from buying on dips after the short-term plunge, but the deleveraging pressure that triggered the decline and cautious market sentiment have not completely dissipated, and the market may continue to oscillate.