Bitcoin saw sharp swings on Saturday, February 7, 2026, as the world’s biggest cryptocurrency crashed below the $69,000 mark before turning positive later in the day.
By 12:17 PM Pakistan time, Bitcoin was up more than 4.4 percent despite the earlier drop. Earlier in the morning at around 4:05 AM, it was trading near $71,605 with trading volume of about $115.38 billion. The price eased to around $71,063 by 10:25 AM, showing continued volatility through the day.
The latest crash comes after a weak session on Friday, February 6, when Bitcoin dropped to as low as $60,268.86 around 5:15 AM, with 24 hour trading volume reaching $127.27 billion.
Long slide from earlier highs
The current level shows a sharp fall from recent months. On January 15, Bitcoin stood at $97,585.1, while in October 2025 it was hovering near $124,752.13. Since January 20, the cryptocurrency has largely followed a downward path.
Bitcoin reached a record high above $127,000 in October last year before falling back to around $90,000 in December. Since the start of this year, it is down by about 30 percent.
The latest fall began in the last weekend of January when Bitcoin slipped below $80,000. This week, the price dropped under $66,000 on Thursday and was trading near $62,900 on Friday morning, marking its lowest level in more than a year.
Why Bitcoin is crashing
Analysts link the decline to wider uncertainty in global markets. Recent volatility in stocks and sharp moves in gold and silver have pushed investors to pull back from riskier assets such as cryptocurrencies.
Market data also suggests a change in big investor behaviour. CryptoQuant said institutional demand has weakened, while US based exchange traded funds that were buying Bitcoin last year are now selling. Analysts at Deutsche Bank noted that these funds have seen billions of dollars leave each month since the downturn in October 2025.
Search interest rises as prices fall
Despite the drop, public interest in Bitcoin has increased. Google Trends data shows global searches for the term “Bitcoin” reached a score of 100 for the week starting February 1, the highest level in the past year.
The surge came after Bitcoin briefly fell to the $60,000 range for the first time since October 2024. The previous peak in search interest was recorded in November when Bitcoin slipped below the $100,000 mark.
The coming days are expected to remain volatile as investors watch global markets and institutional flows for further signals.
