Bitcoin Holds Near $69,000 as Near‑Term Backdrop Remains Fragile
February 10, 2026 – Global crypto markets saw modest declines on Tuesday, with the total market capitalization slipping to $2.43 trillion, a 2 % drop from the previous day. The biggest story was Bitcoin’s ability to stay just above the $69 k level despite a 1 % slide over the last 24 hours and a 9 % loss for the week.
Market Overview
- Total crypto market cap: $2.43 trillion (‑2 % 24 h)
- Bitcoin (BTC): $69,300 ±, down ~1 % in 24 h, ‑9 % week‑on‑week
- Ethereum (ETH): just above $2,000, down 3.3 % on the day and roughly 10 % for the week
Most large‑cap assets were either flat or marginally lower. The most notable dip among the top‑20 tokens was Hyperliquid’s native token HYPE, which fell 7 % on the day and more than 15 % over the past week.
On‑Chain Liquidity and Market Sentiment
On‑chain analytics firm Keyrock released a brief on Monday that described the current environment as a “liquidity‑driven risk reset.” The firm noted that speculative capital continues to recede, making prices more vulnerable to macro‑economic shifts and spot‑market demand. While Bitcoin has managed to hold above recent lows, Keyrock analysts warned that the broader backdrop remains “fragile.”
James Harris, CEO of European crypto firm Tesseract Group, echoed a cautious optimism: the macro picture is mixed but leans supportive. He pointed to a weakening U.S. dollar and bond‑market expectations for rate cuts extending into 2026, while acknowledging ongoing near‑term policy uncertainty. From an on‑chain perspective, Harris observed that net outflows from exchanges coupled with accumulation by large holders suggest a transfer of inventory from weaker to stronger wallets.
Investor mood, as measured by the Crypto Fear & Greed Index, continues to sit in the “extreme fear” zone despite the market’s relative calm.
Movers in the Top‑100
| Asset | Change (24 h) |
|---|---|
| Aster (ASTER) | +8 % |
| Quant (QNT) | +5 % |
| MemeCore (M) | +3 % |
| MYX Finance (MYX) (decentralised perpetual futures) | –4.5 % |
| KuCoin (KCS) | –~4 % |
| Bitget (BGB) | –~4 % |
These movements illustrate a bifurcated market where a handful of tokens outperformed the generally subdued environment while several exchange‑related tokens lagged behind.
Liquidations
Data from CoinGlass shows that roughly $260 million of crypto positions were liquidated in the past 24 hours. Bitcoin contributed about $95.5 million and Ethereum about $82.7 million to that total, underscoring the heightened volatility in the two largest assets.
ETF Flow Highlights
- Spot Bitcoin ETFs: Net inflows of $145 million on Monday pushed cumulative inflows to $54.83 billion. Daily trading volume reached $4.48 billion, with total net assets now at $90.05 billion.
- Spot Ethereum ETFs: Recorded $57 million of net inflows, lifting cumulative inflows to $11.87 billion, despite the underlying price weakness.
These continued inflows suggest institutional and retail investors are still allocating capital to regulated exposure, even as spot prices hover near recent lows.
Macro Context
U.S. consumer data released on Tuesday added a note of caution. Retail sales for December were flat, falling short of the expected 0.4 % rise. Year‑over‑year retail growth decelerated to 2.4 %, down from 3.3 % in November, reinforcing concerns about slowing consumer momentum.
Key Takeaways
- Bitcoin remains resilient near the $69 k threshold, but weekly losses indicate the market has yet to regain bullish momentum.
- Liquidity scarcity is the primary driver of price sensitivity; reduced speculative funds make the market react more sharply to macro news.
- Sentiment stays in “extreme fear,” a condition historically linked to future upside once confidence and macro clarity return.
- ETF inflows continue, indicating sustained demand for regulated crypto exposure despite spot‑market weakness.
- Macro weakness, highlighted by stagnant retail sales, could keep the near‑term outlook cautious until clearer signals emerge from policy makers and economic data.
Analysts advise investors to monitor liquidity metrics, on‑chain holder behavior, and macro developments closely. While the immediate environment is fragile, historical patterns suggest that periods of pessimism can set the stage for stronger long‑term returns once the market stabilises.
Source: https://thedefiant.io/news/markets/bitcoin-holds-near-usd69k-market-update-feb-10-2026
