Bitcoin experienced a remarkable recovery on Friday, rebounding sharply after a substantial sell-off that occurred over the preceding 24 hours. The cryptocurrency surged above $71,000, jumping an impressive $11,000 from its earlier low of $60,000 within the same trading period.
This sudden rebound followed a series of volatile market sessions that challenged the cryptocurrency’s stability, as Bitcoin broke through important psychological support levels in less than a day. On Thursday, February 5, Bitcoin’s price took a nosedive amidst deteriorating global financial markets, with significant losses in major stock indices prompting investors to flee from riskier assets.
The cascading prices were attributed to wider macroeconomic pressures, featuring disappointing earnings reports and sharp declines in technology stocks, which spurred a generalized flight to safer investments among traders.
Market data from Thursday revealed that Bitcoin had plummeted to its lowest valuation since late 2024, a decline that reflects the increasing bearish sentiment among investors. The digital currency has dropped over 40% from its all-time high of above $126,000, reached in October 2025, highlighting the profound gravity of the recent downturn.
Furthermore, the abrupt price collapse resulted in significant forced liquidations, with over $1 billion in trading positions being wiped out in a single day, predominantly affecting long positions that faced automatic closures after Bitcoin broke critical support levels.
Crypto Stocks Surge as Bitcoin Rebounds
In contrast to Thursday’s downturn, Bitcoin’s recovery on Friday saw a resurgence in prices from the $60,000 range to comfortably over $70,000, marking a nearly 15% recovery from the day’s intraday lows. This uplift was not confined to Bitcoin alone; many crypto-related stocks also enjoyed substantial gains. Shares of MicroStrategy ($MSTR) surged by 21% on the day, accompanied by Coinbase ($COIN), Circle ($CRCL), and Robinhood ($HOOD), which all reported increases of 10-15%.
Bitcoin-associated stocks saw significant upward trends as well, led by MARA Holdings (MARA), which surged by 21.03% to reach $8.14, followed closely by TeraWulf (WULF), which rose 19.55% to $14.25. Riot Platforms (RIOT) experienced a 16.54% increase, climbing to $14.05, while Cipher Mining (CIFR) gained 15.47% to reach $14.66. Other players like Bitmine Immersion Technologies (BMNR) and Core Scientific (CORZ) also saw notable increases, along with Neptune Digital Assets (NDA), which managed to climb 11.43% to $0.78.
During the preceding decline, the iShares Bitcoin Trust (IBIT)—a spot Bitcoin ETF managed by BlackRock—experienced a record-breaking daily volume, with approximately $10 billion worth of shares being traded, even as its price faced a 13% plunge, marking one of the most significant single-day declines since its inception.
As of now, Bitcoin is trading at approximately $70,661, exhibiting resilience amidst the recent market turbulence.
