Bitcoin Slips Below $70,000 as U.S. Data Looms

Key Moments

Bitcoin Holds in Tight Range Ahead of U.S. Data

Bitcoin traded below $70,000 during Asian hours on Tuesday, giving back part of its recent rebound from levels near $60,000 as market participants adopted a cautious stance ahead of major U.S. economic releases.

The world’s largest cryptocurrency was last quoted 2.2% lower at $69,392.7 by 05:58 GMT.

Recent sessions have seen Bitcoin largely confined to a band between $68,000 and $72,000. This comes after a volatile prior week in which the token dropped to roughly $60,000 – levels last seen since October 2024 – before staging a relief rally that carried prices back above $70,000.

The earlier slide was driven by liquidation-related selling, as leveraged positions were forced to unwind during the sharp decline.

Macro Focus: Jobs, Inflation, and Fed Leadership

Investor attention is now trained on upcoming U.S. macroeconomic indicators that could recalibrate expectations for Federal Reserve policy.

The monthly U.S. jobs report, which was delayed by a brief government shutdown, is scheduled for release on Wednesday.

Later in the week, markets will receive U.S. Consumer Price Index (CPI) data on Friday. This inflation gauge is seen as pivotal for shaping rate-cut expectations.

Uncertainty around Federal Reserve leadership is adding another layer of caution. Markets remain focused on the impending shift in Fed leadership following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair.

Traders are assessing how a potentially more hawkish approach under Warsh could impact liquidity conditions and demand for speculative assets such as Bitcoin.

⚠️ Bitcoin is entering a consolidation phase, with price action moving sideways.
The approaching moving average could act as dynamic resistance, potentially pushing price back toward the $60K area in a search for liquidity.

The structure suggests a pause in momentum rather than… pic.twitter.com/2gbrXrlZ1W

— Ben (@cryptotradindev) February 10, 2026

Regulatory Spotlight After Bithumb’s $44 Billion Error

Regulatory concerns intensified after a significant operational error at South Korean cryptocurrency exchange Bithumb during a promotional campaign.

The exchange mistakenly distributed about $44 billion worth of bitcoin to users on Friday, instead of the intended small cash prizes. The error involved an incorrect crediting of 620,000 bitcoins to user accounts, which triggered a sharp bout of selling before the mistake was identified.

Bithumb subsequently recovered 99.7% of the coins involved in the incident.

Lee Chan-jin, governor of the Financial Supervisory Service, said the episode exposed structural weaknesses in electronic systems supporting virtual assets and highlighted the urgency of improving oversight frameworks and legislation to bring digital assets under tighter regulatory control.

Altcoins Trade Softer Alongside Bitcoin

Broader cryptocurrency markets also came under pressure on Tuesday, with most major altcoins trading lower.