Bitcoin nears 60000 dollar support level amid global tech stock rout
Bitcoin hit a 16-month low today as a global selloff in technology stocks triggered a massive retreat from risky assets. The market has lost 2 trillion dollars.
Insights:
Bitcoin fell to a 16-month low and tested the $60,000 support level on Feb. 6, 2026, amid a global selloff in technology stocks that triggered an unwind of risky positions across multiple asset classes. This decline reflects a broad market risk-off sentiment and has resulted in a rapid contraction of the global crypto market capitalization. According to data from CoinGecko, the global crypto market has lost approximately $2 trillion since early October, with more than $1 trillion of that value wiped out over the past month alone.
