Bitcoin Surges Past $70,000, Recovering from Thursday's Crash
By John Nada·Feb 7, 2026·2 min read
Bitcoin's rise past $70,000 signals renewed confidence after a crash. Key crypto stocks also gain, reflecting market recovery and strategic shifts.
Bitcoin has risen above $70,000, marking a significant recovery from the crash earlier this week. According to CoinDesk, the cryptocurrency climbed from a low of $60,000, gaining nearly 17% since then. This surge comes as crypto markets witness broader gains during U.S. morning trade on Friday. In addition to Bitcoin's impressive bounce, other cryptocurrencies like Ether and Solana have also shown positive movement, with Ether up by 2.2% and Solana by 2%. Notably, XRP has outperformed, climbing to $1.50 and posting a 17% increase over the last day.
Crypto-related stocks are experiencing notable gains following a sharp decline in the previous session. Strategy has risen by 14%, even after reporting a significant loss, while Galaxy Digital and bitcoin miner MARA Holdings have recorded gains of 15% and 12%, respectively. However, IREN, which has shifted focus from bitcoin mining to AI infrastructure, has underperformed, declining by 1.8% after disappointing earnings results.
The report highlighted that some investors are cautious about the quantum threat to Bitcoin's security model. Michael Saylor's recent commitment to addressing this risk may signal a shift in the community's approach to these concerns. Quinn Thompson remarked on this development, suggesting it indicates a broader acknowledgment of the quantum risk within the Bitcoin community.
Additionally, Paul Howard from crypto trading firm Wincent pointed out that Bitcoin is back at price levels not seen for 14 months, with key momentum indicators suggesting oversold conditions. He noted a surge in trading volumes for Bitcoin and Ether, indicating that the technical setup could invite a short-term bounce. This situation presents an interesting opportunity for traders, leading to speculation about potential price reversions in the near future.
Overall, Bitcoin's rise past $70,000 is a significant marker for the market, suggesting renewed investor confidence and a potential shift in trading dynamics. As the community grapples with the implications of quantum threats, the focus may shift towards security measures and long-term strategies. The market's response to these developments will be crucial moving forward.