Bitcoin’s Rollercoaster: From 60k to 71k in a Day

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What a ride it’s been in the crypto world, huh? Bitcoin shoots up to over $71,000 just a day after it plummeted to $60,000-it’s like a mood swing with a résumé. Very stable, not.

The altcoins are green, and the total crypto market cap has creeped up by roughly $200 billion since this morning’s low. The market’s got more energy than a coffee shop at 8 a.m.-and somehow less grip on reality.

That price chart from above is a masterpiece of clarity and chaos. Bitcoin slid about $30,000 in a bit over a week-from last Wednesday to Friday morning. It’s not a line; it’s a rollercoaster with a tendency to scream mid-plot twist.

As noted earlier today, analysts blamed this latest crash-down from $77,000 to $60,000 in roughly 24 hours-on emotional selling and structural change, rather than any fundamental wobble in BTC or the crypto market. Because nothing says “sound analysis” like naming emotions as the root cause, right?

Since then, BTC has been on a tear. It added over $10,000 since this morning’s multi-year low, and briefly flirted with $71,000 minutes ago before retreating slightly, trading inches below it-like it’s waiting for a better punchline.

The altcoins have produced even bigger gains, with XRP leading the charge. Ripple’s cross-border token has surged about 19% daily to over $1.50 as of press time, while ETH has reclaimed the psychological $2,000 level.

The total value of wrecked positions daily is still above $2 billion, but most of it comes from longs that were tanked earlier today. Nevertheless, over $350 million worth of shorts have been wrecked in the past 12 hours, with BTC responsible for the lion’s share ($261 million).

 

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2026-02-06 20:50