Crypto Volatility
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.
Building on mid-week weakness and gold's record surge, Bitcoin's price stayed suppressed below $90,000 amid a $300 million gamma options expiry on December 26, 2025, unleashing potential for sharp moves. Over $28 billion in Bitcoin and Ethereum options expired on Deribit, amplifying crash risks, with technical patterns signaling further downside.