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February 8, 2026 Afternoon Bitcoin Market Analysis Report
$BTC $ETH $BNB
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1. Core market data for the afternoon

On February 8, 2026, at 16:51 (UTC+8), the real-time trading price of Bitcoin was 489,430.24 yuan (approximately 69,314.79 USD), an increase of **+1.94% compared to the previous trading period, with a current total market value of 9.78 trillion yuan (1.38532 trillion USD), and a 24-hour global trading volume of 59.35 billion USD. As of 17:12 that day, the Bitcoin price slightly rose to 70,379.6 USD (approximately 489,208.6 yuan)**, with a 24-hour increase expanded to 2.41%, showing a slight warming oscillation trend in the afternoon.

From the perspective of short-term price fluctuations, Bitcoin stabilized above 69,000 USD on the afternoon of the 8th after hitting a 16-month low of 60,000 USD on February 6, completing a phase of oversold rebound, but still down over 44% compared to the historical high of 125,000 USD on October 12, 2025, overall in a deep correction cycle.

2. Recent core driving factors of market fluctuations

(1) Multiple negative factors from the prior sharp decline

Bitcoin has entered a continuous correction since peaking in October 2025, with a single-day drop of over 12% on February 5-6, primarily due to the combined impact of five major factors, becoming the core driver of this round of decline:
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