#我在Gate廣場過新年

Over the past 10 days (February 1 to February 10, 2026), Bitcoin (BTC) has experienced intense volatility and significant downward pressure.
According to data from Investing.com and CoinMarketCap, Bitcoin remained between $76,000 and $79,000 in early February. However, the market subsequently saw a massive sell-off, with a peak of $73,172 on February 5, but that day also saw a brutal "bull trap," with a single-day liquidation amount reaching $2.58 billion.
As of February 9, Bitcoin's price had sharply fallen back to around $70,000 (approximately NT$2,226,067). The decline during this period was mainly driven by the following factors:
Institutional capital outflows: Significant net outflows from spot ETFs like BlackRock's IBIT.
Miner selling pressure: Major mining companies (such as Cango) sold over $300 million worth of BTC due to debt and AI transformation needs.
Macroeconomic environment: The Federal Reserve maintained high interest rates at 3.50-3.75%, and geopolitical tensions caused capital to flow into gold rather than Bitcoin.
Currently, Bitcoin's short-term trend is technically bearish, with RSI indicators showing extremely pessimistic market sentiment. Although some large holders (such as MicroStrategy) continue to buy during the decline, the return rate from February to date is about -17%, far below the historical average.

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