Bitcoin Price Surges as Whales Step In During Market Dip

• BTC Price Drop: Bitcoin fell to $60,000, down 24% in the past 30 days.

• Whale Accumulation: Wallets holding 10–100 BTC actively bought during the market dip.

• Market Outlook: ETF outflows continue, but historical trends suggest potential recovery ahead.

Bitcoin — BTC, dropped to $60,000 on February 5, marking the lowest level since October 2024. Investors panicked as the cryptocurrency slid nearly 25% over the past month. The dip has since sparked a buying wave, with prices climbing to around $68,970 by February 8. On-chain data shows whales and mid-sized holders are stepping in to accumulate, signaling potential support at current levels.

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗙𝗹𝗼𝘄 (𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – Weekly Summary

TOTAL NET FLOW: -358.5

IBIT: -115.1
FBTC: -191.3
BITB: 86.2
ARKB: -8.9
BTCO: 17.1
EZBC: -8.6
BRRR: 0
HODL: 14.3
BTCW: 3.3
GBTC: -173.8
BTC: 18.3

For all the data & disclaimers visit:…

— Farside Investors (@FarsideUK) February 7, 2026

Institutional Outflows and Market Pressure

US Bitcoin ETFs faced heavy outflows last week, totaling $358.5 million. This marked the third consecutive week of withdrawals from institutional investors. The iShares Bitcoin Trust lost $115.1 million, while Fidelity Wise Origin Bitcoin Fund recorded $191.3 million in outflows. Grayscale Bitcoin Trust reported $173.8 million leaving the fund. Year-to-date, Bitcoin ETFs have seen nearly $2 billion exit, with more issuers reporting outflows than inflows.

Weaker US labor data contributed to the pressure. Jobless claims jumped from 209,000 to 231,000 in the week ending January 31. Job openings also fell from 6.928 million in November to 6.542 million in December. Amazon’s announcement of $200 billion in AI spending for 2026 added to investor uncertainty. The Crypto Fear & Greed Index plunged from 20 to 6 before rising slightly to 7, keeping sentiment in extreme fear territory.

Despite these headwinds, analysts note that most Bitcoin ETF assets remain invested. Bloomberg Intelligence’s Eric Balchunas pointed out that both Bitcoin and stocks historically recover from downturns and reach new highs. Lower interest rates, signaled by a rising chance of a June rate cut, could also boost risk-asset demand.

Whale Accumulation Signals Potential Bottom

On-chain data shows strong accumulation among Bitcoin holders. Glassnode’s Accumulation Trend Score climbed to 0.68, indicating broad buying across wallet sizes. This represents the first broad accumulation since late November, when Bitcoin formed a local bottom near $80,000. Wallets holding between 10 and 100 BTC have been the most aggressive buyers during the recent dip.

Retail investors are also looking for signs of capitulation. Santiment reports that searches for “crypto capitulation” jumped from 11 to 58 on Google Trends between February 1 and February 8. Analysts warn bear markets can have multiple capitulation events, so the bottom may not be fully confirmed. Still, some suggest that waiting for a dramatic capitulation might mean missing out, as whales have already started buying.

The upcoming US retail sales report and jobs data scheduled for February 11 could influence Bitcoin’s recovery. Economists forecast the unemployment rate to remain at 4.4%, while average hourly earnings are expected to rise 3.6% year-on-year. If data meets expectations, demand for Bitcoin could strengthen, supporting further upward momentum.