On Tuesday, Bitwise CIO Matt Hougan argued that the current crypto bear market is far less severe than the downturns of 2018 and 2022, noting stronger fundamentals such as ETFs, DeFi infrastructure and improving tokenomics. Total crypto market capitalization has fallen about 49% from an October peak near $4.4 trillion to a low of $2.23 trillion on Feb. 6, compared with drawdowns of 88% in 2018 and roughly 73% in 2022. Despite recent volatility that pushed Bitcoin down to around $60,000 on Feb. 6 before recovering to about $68,000, on-chain data suggests many long-term holders remain in profit.

Bitcoin and broader crypto markets are facing renewed selling pressure as traders await key US macroeconomic data and Federal Reserve minutes in the week of the President's Day holiday. Inflation gauges including January CPI and the upcoming December PCE report, together with GDP figures and multiple Fed speaker appearances, are expected to influence risk appetite. Meanwhile, Bitcoin has slipped back toward $68,300 and total crypto market capitalization has retreated to about $2.41 trillion as volatility returns.

Around 38,000 BTC options worth about $2.5B and 217,000 ETH contracts totaling $406M are scheduled to expire at 08:00 UTC on Feb. 13, bringing notional to roughly $2.9B. Coinglass places BTC max pain near $75,000 with a 0.76 put/call, while spot prices hover near $66,000 for BTC and under $2,000 for ETH.

On February 11, 2026, CryptoQuant's Darkfost said short‑term Bitcoin holders face roughly a 28% unrealized loss with an STH cost basis near $94,200 as BTC traded around $67,000–$68,000. By late Wednesday, price dipped just under $66,000 before rebounding to $67,200 on Thursday morning in Asia, while Bitfinex noted long‑term holder supply rose toward 14.3 million BTC.

Crypto analysts are flagging multiple bear market signals as Bitcoin struggles to sustain prices near $70,000 and trades around $69,000 in Asia. Technical metrics such as the 100-week moving average, holder profitability, and heavy selling pressure suggest more downside is possible before a durable recovery. Some commentators argue that further losses could still create long-term accumulation opportunities despite the current market pain.

From Feb. 9 to 13, U.S. data releases—including December Retail Sales on Monday, the January Jobs Report Wednesday, and January CPI Friday—may shape crypto sentiment after last week's $700 billion slide. Over the weekend, total market cap hovered near $2.45 trillion as Bitcoin rebounded to $71,000 and Ether touched $2,100.

On Friday, Feb. 6, around 34,000 Bitcoin options contracts worth roughly $2.1 billion and about 217,000 Ethereum options contracts valued at $400 million are scheduled to expire. Bitcoin options show a put/call ratio of 0.59 with max pain near $82,000, while broader crypto markets have dropped to a total capitalization of $2.27 trillion and Bitcoin has fallen below $60,000 after losing 50% from its all‑time high.

Blockchain analytics firm Santiment reported that fear, uncertainty, and doubt have surged across crypto social channels after Bitcoin fell 16% over the past week and briefly touched $74,600. Analysts highlighted that retail selling drove a market drop that erased $440 billion in value and pushed BTC toward key support near $74,000, while opinions remain split on whether a relief rally or deeper bear-phase continuation is ahead.

Crypto assets slid into bear market territory over the weekend as more than $250 billion left spot markets and total capitalization fell to $2.67 trillion. Bitcoin briefly dropped below $76,000 in Monday's Asian session, while upcoming US labor and manufacturing data and major tech earnings could add further volatility this week.