Bitcoin price climbed back above $70,000 on Saturday, rebounding from a sharp drawdown earlier this month as cooler-than-expected U.S. inflation data helped revive risk appetite across markets. Bitcoin was trading around $70,215 at press time, up roughly 2% on the day with daily volume near $43 billion. The move leaves the bitcoin price sitting just below its seven-day high of $70,434 and pushes its global market capitalization back above $1.4 trillion. The latest CPI report showed inflation at 2.4% year over year, slightly under the 2.5% forecast.
The rebound also fed through to crypto-linked equities. Coinbase surged 18% and MicroStrategy rose about 10% as investors rotated back into digital-asset exposure. Coinbase, however, faces a difficult earnings backdrop, including a $666.7 million Q4 2025 loss tied to weaker trading revenue. MicroStrategy remained closely tethered to bitcoin’s volatility, and disclosed another purchase of more than 1,100 BTC while posting a steep quarterly loss driven largely by mark-to-market declines on its holdings.
Analysts have noted that bitcoin still faces headwinds after a rally that followed an October peak above $120,000, with the price sliding into the mid-$60,000s during the downturn. The February sell-off intensified after BTC breached the $70,000 psychological level, though some observers saw a potential local bottom. Research firm K33 suggested the move toward $60,000 could mark a local bottom, pointing to capitulation signals in volume, funding rates, options positioning, and ETF flows. Despite the rebound, the Crypto Fear & Greed Index remains in extreme fear, underscoring ongoing market nerves tied to the sector’s volatility.
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