Bitcoin (BTC) was trading around $69,000 on Tuesday, February 10, 2026, as market observers point to potential early signs of stabilization following a sharp recent pullback.
Analyst Ed Engel from Compass Point highlighted in a Monday note that the crypto sector appears to be in the “early phases of bottoming out” after last week’s significant capitulation event. He noted that investors realized roughly $10 billion in losses—the second-largest weekly total since June 2022. According to Engel, such large-scale capitulation often marks the closing stages of a major sell-off.
That said, Engel isn’t calling for a quick rebound. He warned that crypto corrections seldom follow a V-shaped recovery pattern and suggested Bitcoin could revisit the $60,000 zone, or even test as low as $55,000 in the coming period.
The broader context shows Bitcoin down about 45% from its October all-time high above $126,000. That peak gave way to what’s been dubbed a “crypto winter,” fueled by forced liquidations and selling pressure from major holders. The downturn accelerated last week, with BTC dropping below $61,000—its steepest single-day decline since November 2022. Prices bounced back somewhat on Friday and have since fluctuated around the $70,000 mark.
Ethereum (ETH) has also faced headwinds, sliding near $2,000 on Tuesday and posting year-to-date losses of around 30%.
On a more optimistic note, analysts at Bernstein described the current bearish scenario for Bitcoin as “the weakest in its history.” In their view, the price action reflects “a mere crisis of confidence,” with no fundamental breakdowns. Gautam Chhugani and his team at Bernstein maintain a bullish longer-term outlook, targeting $150,000 for BTC by the end of 2026.
Overall, while capitulation signals suggest the worst of the selling may be easing, downside risks remain in play. The market continues to watch key support levels closely as volatility persists.
(Original source inspiration: Yahoo Finance article by Ines Ferré, published February 10, 2026. Always do your own research—crypto markets are highly volatile.)