The price of bitcoin climbed back above $70,000 on Saturday, recovering from a sharp drop earlier this month, as colder-than-expected US inflation data helped revive risk appetite across markets. The recovery comes after a brutal stretch that saw billions in realized losses and lingering signs of investor anxiety.
Bitcoin was trading around $70,215 at press time, up about 2% in the last 24 hours, with daily volume close to $43 billion. The move leaves the price of bitcoin just below its seven-day high of $70,434, according to market data, and lifts its global market capitalization back above $1.4 trillion.
The latest increase came after January’s Consumer Price Index report, which showed inflation rose 2.4% year-over-year, slightly below the 2.5% forecast. The softer print reinforced expectations that the Federal Reserve could begin cutting rates sooner than anticipated, a change that typically benefits higher beta assets like cryptocurrencies.
Prediction markets reflected the change in sentiment. Kalshi traders increased the implied odds of an April rate cut to 23%, while Polymarket prices also rose during the week.
Bitcoin Price Analysis and Related Stocks
Bitcoin’s price rally over the weekend also spread to cryptocurrency-linked stocks. On Friday, Coinbase (COIN) rose 18% and Strategy (MSTR) jumped 10% as investors returned to exposure to digital assets.
The move came even as Coinbase continues to endure a difficult earnings backdrop, including a $666.7 million loss in the fourth quarter of 2025 tied to weaker trading revenue.
Meanwhile, the strategy remained closely tied to bitcoin volatility, while reaffirming its long-term treasury focus. The company revealed another bitcoin purchase of more than 1,100 BTC this week and posted a sharp quarterly loss driven largely by declines in the market value of its holdings, underscoring the balance sheet risks of its aggressive positioning.
It’s been a rough couple of months for the bitcoin price, with Bitcoin falling sharply from its October high above $120,000 to the mid-$60,000 range after a prolonged multi-month decline.
The sell-off intensified in early February when BTC broke below the key psychological level of $70,000.
Research firm K33 suggested that the drop toward $60,000 may have marked a “local bottom,” pointing to capitulation-like conditions in volume, funding rates, options positioning and ETF flows.
Still, the rebound has not erased the deeper malaise that lingers beneath the surface. The Crypto Fear & Greed Index remains stuck in “extreme fear,” levels last associated with the 2022 bear market and the collapse of major industry players.
