Bitcoin recovers ground after hitting a sixteen month low near 60000 dollars

Bitcoin tested the key $60,000 level and rebounded from a 16-month low on February 6, 2026, as the digital asset market continues to experience significant volatility. After briefly falling to $60,008.52, Bitcoin recovered to trade around $65,198. This price movement signals material market stress occurring amid a broader sell-off that has erased approximately $2 trillion from the global crypto market since early October, according to data from CoinGecko.

The downturn has been particularly sharp in recent weeks, with more than $1 trillion of the total market value lost in the past month alone. This period of instability has also seen Ether and other digital tokens face downward pressure. The sell-off has been accompanied by sustained multi-billion-dollar outflows from U.S. US spot bitcoin ETFs, which recorded more than $3 billion in outflows during January.