Bitcoin continues its corrective phase today, with bears firmly in control amid fading bounces and broader risk-off sentiment in crypto markets.
Current Price: Hovering around $66,000–$67,000 USD (live ranges from sources: ~$66,225 on CoinGecko, ~$66,761 on Coinbase, ~$66,944–$67,016 on CoinDesk/Bloomberg, with intraday lows dipping to ~$66,354 and highs near $69,000–$69,900 earlier).
24-Hour Performance: Down -3% to -4.2% (e.g., -3.85% on CoinGecko, -4.16% on Yahoo Finance trackers), extending losses for the third straight session.
Market Cap: Approximately $1.32T–$1.34T, solidly #1 ranked (circulating supply ~19.99M–20M BTC).
24-Hour Trading Volume: Elevated at $40B–$50B+, driven by liquidations and selling pressure.
Key Developments & Drivers Today:
U.S. Jobs Data Impact: Stronger-than-expected January jobs report (130,000+ added, unemployment down to 4.3% vs. 4.4% expected) initially trimmed losses but reinforced "higher for longer" rate expectations, pressuring risk assets like BTC (which diverged negatively from rallying Asian equities).
Price Action: BTC tested lows near $66,000–$66,400, briefly slipping below the critical 200-week EMA (~$68,000) for the first time in the recent rally cycle. Bounce attempts from ~$67,500 faded quickly, with no strong buyer momentum to reclaim $69,000+.
Technical Outlook: Bears dominant on daily charts (downtrend intact), with analysts noting weak futures open interest and extreme fear. Key supports at $66,000 (holding for now) and lower at $60,000–$62,000; resistance at $68,000–$70,000. Some warn of further downside in a potential "bear leg" for 2026 post-2025 ATH (~$126,000+).
Other Notes: No major positive catalysts; sentiment fragile after recent volatility (recovery from early-Feb $60k lows to $70k, now reversing). Broader crypto (e.g., ETH down ~3–4%) follows suit.
Overall Trend: Bearish short-term with consolidation in the $66k–$69k range. BTC remains volatile—watch for macro shifts (e.g., Fed cues) or renewed institutional buying for any reversal. Long-term holders eye fundamentals like scarcity and adoption, but near-term caution prevails.This is not financial advice—markets move fast and are highly volatile. Always DYOR, Shahid! If you want a BTC chart image, live chat vibe, or update on another coin, just say.