MW Bitcoin rises after brutal week of selling
By Barbara Kollmeyer
Bitcoin has suffered a brutal selloff this week.
The price of bitcoin pushed higher on Friday, after a dramatic week of trading that dragged it to a level not seen in more than a year.
Bitcoin (BTCUSD) was up nearly 3% at $65,441, after tumbling on Thursday to as low as $60,057 at one point.
The 13% decline on Thursday through 4 p.m., was the cryptocurrency's worst since June 13, 2022, according to Dow Jones Market Data.
The No. 1 cryptocurrency has dropped around 22% this week and is down roughly 48% from a record intraday high of $126,272.76 reached Oct. 6.
"Beleaguered investors will be asking if that was it, after a plunge that has seen the price of bitcoin halve since the October highs," said Chris Beauchamp, chief market analyst at IG, in a note to clients.
"Despite all the commentary around bitcoin's apparent demise, this selloff still pales in comparison with previous crypto winters. While the arguments for why it is past its peak are strong, history suggests it has plentiful powers of recuperation," he said.
Read: Bitcoin's latest selloff is shattering many of its most enduring myths
Bitcoin's struggles come as equity markets have been roiled by AI worries hitting software stocks and metals markets have also been on a roller coaster. Some investor have pointed to President Donald Trump's decision to nominate Kevin Warsh as the next chair of the Federal Reserve for intensifying bitcoin's decline.
-Barbara Kollmeyer
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(END) Dow Jones Newswires
February 06, 2026 05:05 ET (10:05 GMT)
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