Bitcoin regained footing above the $70,000 threshold over the weekend, trading near $70,523 after a session that saw it swing between approximately $68,649 and $71,450. The leading cryptocurrency's 2.2% advance followed a volatile period where it briefly touched a 16-month low near $60,000.
Crypto Equities Rally
U.S.-listed digital asset companies posted significant gains on Friday. Coinbase shares jumped 13%, while Strategy surged 26%. Mining operators also participated in the rebound, with Marathon Digital climbing 22% and Riot Platforms gaining 20%.
Liquidity Concerns and Market Depth
Analysts note that thinning liquidity is contributing to sharper price movements. Research from Kaiko indicates bitcoin's average 1% market depth—measuring order book volume within 1% of the spot price—has declined to around $5 million from over $8 million in 2025. "Reduced liquidity means sharper and more erratic price movements," explained Thomas Probst, a research analyst at the firm.
Diverging Analyst Views
Market observers offer contrasting perspectives on the recent recovery. James Butterfill of CoinShares suggested bitcoin is "very close to a bottom," while Jefferies analyst Andrew Moss countered that there remain "few bullish indicators" despite the bounce.
Critical Week Ahead
Traders face a packed economic calendar with December retail sales due Tuesday, January employment figures Wednesday, and January Consumer Price Index data Friday. The earnings schedule includes Robinhood reporting February 10 and Coinbase following on February 12.
Options Market Caution
Despite the price stabilization, derivatives markets show continued concern. Analysts at Derive.xyz noted substantial put open interest concentrated between $60,000 and $50,000 strikes for the February 27 expiry, indicating significant demand for downside protection.
The convergence of macroeconomic data and corporate results this week is expected to test bitcoin's recent resilience, with sparse order books potentially amplifying market reactions to any surprises.
