Bitcoin climbed back toward the $69,000 mark after an earlier selloff on Monday, recovering from fresh losses that had extended a four-week stretch of steep declines. The rebound came despite a period of heightened volatility, as persistent uncertainty over interest rates continued to weigh on investor appetite for speculative assets.
As of 12:14 GMT, Bitcoin was trading 0.11 percent higher at $68,870 after falling to $68,200 earlier in the session. Ether also gained 0.48 percent to $1,975.37 after registering steep losses.
Bitcoin struggles to sustain momentum
The softness in crypto markets comes after last week’s weaker-than-expected U.S. inflation data, which had revived hopes that the Federal Reserve could begin easing policy later this year.
Official figures showed consumer price index (CPI) growth slowed to 2.4 percent year-on-year in January, down from 2.7 percent in December, strengthening expectations for at least two 25-basis-point rate cuts in 2026. In response, the benchmark 10-year U.S. Treasury yield slid to 4.05 percent, its lowest level since early December.
Bitcoin initially reacted positively, climbing from around $66,800 on Friday to above $70,000 over the weekend. However, the rally was short-lived, with the cryptocurrency struggling to sustain momentum at those higher levels and subsequently pulling back, even as it later steadied just below the $69,000 mark.
Traders are now awaiting the release of key macroeconomic data, including the minutes from the Federal Reserve’s January meeting, along with the central bank’s preferred inflation measure, the core personal consumption expenditures (PCE) price index, for clearer signals on rate expectations and near-term market positioning.
Read: Bitcoin rebounds after trading near $66,000 ahead of key U.S. inflation data
Bitcoin loses 50 percent since October record high
On Sunday, Strategy said it could meet all of its debt obligations even if Bitcoin’s price were to plunge to $8,000. Strategy currently holds 714,644 Bitcoin, accumulated through a combination of equity issuances and long-term debt financing. The firm, led by outspoken Bitcoin advocate Michael Saylor, has continued to add to its holdings in recent weeks, even as the cryptocurrency faced sustained selling pressure.
Bitcoin has shed roughly 50 percent of its value since reaching a record high of about $126,000 in October, leading declines across speculative assets as uncertainty surrounding U.S. interest rates dampened risk appetite. The extended downturn had fueled concerns that Strategy might be forced to liquidate part of its Bitcoin reserves to service its debt, worries Saylor has repeatedly downplayed.
Earlier in February, Strategy reported a $12.4 billion loss for the December quarter, widening sharply from a $670.8 million loss in the same period a year earlier. Aside from its sizable Bitcoin treasury strategy, the company generates relatively limited operating revenue.
Broader cryptocurrency markets moved higher on Monday, mirroring Bitcoin’s latest recovery. XRP gained 0.7 percent to $1.49 after losing 4.3 percent in the past 24 hours.
BNB gained 1.1 percent to $623.19, with Solana and Cardano gaining 0.8 percent and 1.3 percet, respectively.
Among meme tokens, Dogecoin and $TRUMP rose 0.6 percent each.
