Bitcoin ( BTC) rebounded from an early slump on Monday, Feb. 9, buoyed by high-profile institutional acquisitions that offset significant sell-side pressure from miners. After dipping to a session low of $68,285 around 10 a.m. EST, the cryptocurrency surged back toward the $71,000 threshold.

Leading the charge, Strategy disclosed it had acquired an additional 1,142 bitcoins for about $90 million. The purchase, funded through its at-the-market equity program, brings the firm’s total holdings to 714,644 BTC. The acquisition is notable as it follows the company’s fourth-quarter 2025 financial report, which reflected a $17.4 billion operating loss—largely due to unrealized paper losses on its digital asset holdings after a price pullback.

The market also found support from Binance, which bolstered its SAFU by purchasing 4,225 BTC. The move is part of the exchange’s $1 billion buyback plan to shift emergency reserves into more transparent on-chain assets like bitcoin.

These institutional inflows served as a counterweight to selling pressure from the mining sector. Most notably, Cango offloaded 4,451 coins over the weekend, raising $305 million to reduce leverage and repay bitcoin-collateralized loans. Other mining firms, including Riot Platforms and Cleanspark, have also trimmed their holdings.

Read more: Cango Sells 4,451 BTC as Miner Selling Adds Pressure to Bitcoin in 2026

By midday, bitcoin’s recovery had pushed its market capitalization back above $1.4 trillion, with the total crypto economy stabilizing just under $2.5 trillion. Despite the “see-saw” price action, liquidations stayed relatively low, with only $400 million in positions wiped out over the last 24 hours—a sign that recent volatility has largely flushed out excessive speculation.

Ignacio Aguirre Franco, chief marketing officer at Bitget, noted that while the past few weeks have been turbulent, the recent deleveraging is a positive signal for the long term. He identified massive outflows from exchange-traded funds and broad market deleveraging as the primary drivers of last week’s crypto downturn.

“These dynamics have helped purge excessive speculation, which in turn has created a healthier foundation for sustainable future growth rather than signaling structural failure,” Franco said.

Looking ahead, Franco remains optimistic about bitcoin’s trajectory. He projects that if conditions improve, the asset could reach a new all-time high in the $150,000 to $180,000 range later this year, driven by renewed inflows and deeper liquidity from stablecoins.

• Why did Bitcoin rebound on Feb. 9? Institutional buys from Strategy and Binance offset heavy miner selling.
• How much Bitcoin did Strategy and Binance purchase? Strategy added 1,142 BTC for $90M, while Binance bought 4,225 BTC for its SAFU fund.
• What role did miners play in market pressure? Cango and other miners sold thousands of coins to reduce leverage and repay loans.
• What is the outlook for bitcoin’s price? Bitget CMO projects a potential new all‑time high of $150K–$180K later in 2026 if inflows and liquidity improve.

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