Bitcoin price steadies but fresh fears suggest slide to $52k
Brian McGleenon
Updated Thu 12 February 2026 at 7:12 pm GMT+9 2 min read
In this article:
BTC-USD
+1.11%
BNB-USD
+4.27%
ETH-USD
+1.94%
^GSPC
-0.00%
^IXIC
-0.16%
Bitcoin edged higher in early trading on Thursday, steadying near $67,259 (£49,503) as investors weighed a stronger-than-expected US jobs report alongside lingering concerns about downside risks in the cryptocurrency market.
The world’s largest cryptocurrency (BTC-USD) is up roughly 1% over the past 24 hours, but remains down nearly 4.7% over the past week, reflecting continued caution among investors after this year’s sharp correction.
**Read more: **Crypto live prices
John Glover, chief investment officer at Ledn and former managing director at Barclays, warned that technical signals suggest further downside could be ahead.
“While I had been calling for bitcoin (BTC-USD) to trade lower, which has transpired, my target was $71,000, the 50% Fibonacci retracement level. We have now traded well through that support,” Glover told Yahoo Finance UK.
**Read more: **Stocks higher as GDP figures paint mixed picture of growth
He added that under Elliott Wave theory, a key structural rule has been challenged. “If we close below $67,000 on a weekly basis, my wave count comes into question. Should that occur, the next key support level sits around $52,000.”
Elliott Wave theory is a technical analysis framework that attempts to predict market trends by identifying recurring patterns, or “waves,” in price movements.
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This bearish scenario underscores broader questions about bitcoin’s (BTC-USD) resilience in 2026, with some analysts cautioning that structural weaknesses in the market could prevent the cryptocurrency from reaching fresh highs above $100,000 this year.
**Read more: **Bitcoin’s worst week amid ‘fear and fatigue’
Not all experts expect a sharp decline. QCP’s head of client coverage, Elbert Iswara, highlighted several near-term indicators for investors, pointing to the $60,000 to $65,000 range as a key psychological and technical zone, where thin liquidity could provide support and potentially trigger a short-term rally around $60,000. Thin liquidity means there are fewer buy and sell orders in the market, so prices can move more sharply in either direction.
Spot bitcoin (BTC-USD) ETF flows will also be crucial, as continued outflows or stabilisation could shape price action in today’s choppy conditions. There were net outflows of over $276m across all spot bitcoin exchange-traded funds on Wednesday, according to Farside Investors data.
**Read more: **Gold rally loses steam after strong US jobs data
Meanwhile, bitcoin’s (BTC-USD) performance has lagged behind equities, which are pointing to a modestly higher open on Wall Street on Thursday. Dow futures were up 116 points, S&P 500 futures added 18.75 points, and Nasdaq futures climbed 56.5 points.
Story Continues
Wednesday’s stronger-than-expected US jobs report, showing 130,000 new positions in January and an unemployment rate of 4.3%, may have helped steady broader risk sentiment but did little to ease caution in crypto markets.
The total cryptocurrency market capitalisation currently stands at roughly $2.38tn, up 0.8% in the past 24 hours. Ethereum (ETH-USD) and BNB (BNB-USD) have slightly outperformed bitcoin (BTC-USD), rising 1.4% and 2.5% respectively over the past day.
Read more:
**Stablecoins: A deep dive into what they are and the risks**
**What is a spot bitcoin ETF and why it has sparked a crypto rally?**
**Why the bitcoin trade 'is too large to ignore'**
Download the Yahoo Finance app, available for Apple and Android.
ビットコイン価格は安定していますが、新たな懸念が$52,000への下落を示唆しています
Bitcoin price steadies but fresh fears suggest slide to $52k
Brian McGleenon
Updated Thu 12 February 2026 at 7:12 pm GMT+9 2 min read
In this article:
BTC-USD
+1.11%
BNB-USD
+4.27%
ETH-USD
+1.94%
^GSPC
-0.00%
^IXIC
-0.16%
Bitcoin edged higher in early trading on Thursday, steadying near $67,259 (£49,503) as investors weighed a stronger-than-expected US jobs report alongside lingering concerns about downside risks in the cryptocurrency market.
The world’s largest cryptocurrency (BTC-USD) is up roughly 1% over the past 24 hours, but remains down nearly 4.7% over the past week, reflecting continued caution among investors after this year’s sharp correction.
**Read more: **Crypto live prices
John Glover, chief investment officer at Ledn and former managing director at Barclays, warned that technical signals suggest further downside could be ahead.
“While I had been calling for bitcoin (BTC-USD) to trade lower, which has transpired, my target was $71,000, the 50% Fibonacci retracement level. We have now traded well through that support,” Glover told Yahoo Finance UK.
**Read more: **Stocks higher as GDP figures paint mixed picture of growth
He added that under Elliott Wave theory, a key structural rule has been challenged. “If we close below $67,000 on a weekly basis, my wave count comes into question. Should that occur, the next key support level sits around $52,000.”
Elliott Wave theory is a technical analysis framework that attempts to predict market trends by identifying recurring patterns, or “waves,” in price movements.
CCC - CoinMarketCap • USD
(BTC-USD)
67,588.45 +744.36 (+1.11%)
As of 10:31:00 UTC. Market open.
Advanced chart
This bearish scenario underscores broader questions about bitcoin’s (BTC-USD) resilience in 2026, with some analysts cautioning that structural weaknesses in the market could prevent the cryptocurrency from reaching fresh highs above $100,000 this year.
**Read more: **Bitcoin’s worst week amid ‘fear and fatigue’
Not all experts expect a sharp decline. QCP’s head of client coverage, Elbert Iswara, highlighted several near-term indicators for investors, pointing to the $60,000 to $65,000 range as a key psychological and technical zone, where thin liquidity could provide support and potentially trigger a short-term rally around $60,000. Thin liquidity means there are fewer buy and sell orders in the market, so prices can move more sharply in either direction.
Spot bitcoin (BTC-USD) ETF flows will also be crucial, as continued outflows or stabilisation could shape price action in today’s choppy conditions. There were net outflows of over $276m across all spot bitcoin exchange-traded funds on Wednesday, according to Farside Investors data.
**Read more: **Gold rally loses steam after strong US jobs data
Meanwhile, bitcoin’s (BTC-USD) performance has lagged behind equities, which are pointing to a modestly higher open on Wall Street on Thursday. Dow futures were up 116 points, S&P 500 futures added 18.75 points, and Nasdaq futures climbed 56.5 points.
Wednesday’s stronger-than-expected US jobs report, showing 130,000 new positions in January and an unemployment rate of 4.3%, may have helped steady broader risk sentiment but did little to ease caution in crypto markets.
The total cryptocurrency market capitalisation currently stands at roughly $2.38tn, up 0.8% in the past 24 hours. Ethereum (ETH-USD) and BNB (BNB-USD) have slightly outperformed bitcoin (BTC-USD), rising 1.4% and 2.5% respectively over the past day.
Read more:
Download the Yahoo Finance app, available for Apple and Android.
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