Bitcoin hovers around $60,000, with increasing miner costs intensifying market pessimism

As of February 10, 2026, Bitcoin is fluctuating around $70,100, down 0.84% in the past 24 hours, while Ethereum is also under pressure at $2,110. This is not an isolated technical correction but a stress test caused by the combined pressures of miner costs, capital outflows, and market sentiment. From last year’s peak of $100,000 falling below $90,000 and $80,000, to now approaching the $60,000 mark, the entire market is undergoing an unprecedented test.

Gold and Silver Rise Together, What Signal Does This Send?

Markets often give signals before turning points. As early as the second half of 2024, gold showed signs of an upward trend, but at that time, the crypto ecosystem was booming, and this signal was ignored by the market. By 2025, gold’s annual increase surpassed 100%, and silver’s performance was even more astonishing. The simultaneous rise of these two traditional safe-haven assets usually indicates a shift in market attitude toward risk assets.

From a certain perspective, silver’s surge is the “last straw that breaks the camel’s back”—it plainly tells the market: risk aversion has become mainstream, and investors are retreating from risk assets. The synchronized decline of Bitcoin and Ethereum is a direct response to this signal.

Profit-taking Exit and Liquidity Crisis Form a Vicious Cycle

A deeper analysis of Bitcoin’s decline mechanism shows that it is not merely a technical sell-off but a structural reallocation of funds. Profit-taking at previous high levels is gradually leaving the market, seeking better entry points. Meanwhile, market demand for buying has significantly decreased—the phenomenon of funds flowing into altcoins, small tokens, and high-yield assets has changed.

In early 2025, new projects and tokens emerged rapidly, creating temporary hype but also dispersing overall market liquidity. After multiple FOMO episodes, players have become more rational, adopting a wait-and-see attitude. When not participating, there are no gains, but risks are also avoided—this mindset has led to the current liquidity crunch.

Chain Reaction Under Miner Cost Pressure

The decline in Bitcoin price directly increases miners’ operating costs. Miners are one of the main sellers exerting downward pressure—they need to regularly sell mined rewards to cover electricity, hardware maintenance, and other expenses. When prices approach $70,000, some high-cost miners’ profit margins are severely squeezed, forcing them to accelerate sales. This further intensifies downward market pressure, creating a vicious cycle.

Market observations show that whether it’s gold, Bitcoin, or Ethereum, the current declines lack solid support, and the entire market appears to be in a “carefree decline.” Besides big short-sellers taking profits, only trapped retail investors and cautious institutions remain. There are no defenses or psychological support in this trend.

Asset Liquidity Crisis, a Chain Reaction

The most concerning issue now is the freezing of asset liquidity. Not only is the crypto market in a wait-and-see mode, but traditional capital markets are also facing liquidity risks. When all participants hold their assets and remain cautious, any negative news can be amplified infinitely—like a chain reaction, a small stone can trigger an avalanche.

This correction reflects more than just individual markets; it signifies a restructuring of the global liquidity landscape. Inflation is merely a surface phenomenon; the real core risk lies in the uncertainty of capital flows.

Reversal Opportunities in Technical Corrections

However, crises often breed opportunities. This forced technical correction could actually be an opportunity to optimize the altcoin ecosystem. In a true market reshuffle, inferior projects will be ruthlessly eliminated, while those with genuine application value will attract more attention.

In the short term, Bitcoin’s oscillation between $60,000 and $70,000 remains the main theme. But for long-term investors, the key questions are: which projects will survive this round of correction, which are truly useful, and which are bubbles—these are the critical factors that will determine the next rally. Every market dip is an opportunity to reassess asset value.