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Bitcoin ends volatile week with modest gains as advocates urge calm
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Bitcoin's price rebounded modestly to around $70,000 on February 8 after a sharp drop to $60,000 earlier in the week, prompting crypto advocates to downplay the volatility as temporary. Coinbase CEO Brian Armstrong emphasized long-term bullishness, while skeptics like Peter Schiff celebrated the downturn. Institutional interest persists despite extreme fear in market sentiment.
Search interest in Bitcoin and cryptocurrency has plummeted to multi-month lows on major platforms like Google and Naver, signaling waning retail enthusiasm at the end of 2025. Investors remain gripped by fear amid sluggish prices and memecoin failures, though experts predict a long-term recovery. This drop coincides with dashed hopes for a year-end market rally.
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Social sentiment for XRP has dropped to extreme fear levels, similar to October lows, which have historically led to short-term rebounds. Despite a weekly decline of 7.4%, institutional demand through U.S. spot XRP ETFs remains robust with $906 million in net inflows since launch. Technical indicators show structural weakness but flash a potential reversal via the TD Sequential on the weekly chart.