Bitcoin recovers toward $68,000

The world’s largest cryptocurrency last traded 1.9% higher at $67,940, remaining capped below the key $70,000 level, with market activity subdued amid thinning liquidity

Bitcoin slightly recovered on Thursday toward $68,000, but gains remained limited as investors assessed stronger-than-expected U.S. employment data that dampened expectations for near-term central bank interest rate cuts.

The world’s largest cryptocurrency last traded 1.9% higher at $67,940, remaining capped below the key $70,000 level, with market activity subdued amid thinning liquidity.

Bitcoin had recently rebounded from a sharp decline toward $60,000 earlier this month but has since struggled to regain upward momentum.

Data released on Wednesday showed U.S. nonfarm payrolls increased more than forecast in January, pointing to continued resilience in the labour market.

Bitcoin’s inability to break above $70,000 reflects cautious risk appetite and lingering volatility after its recent slump, leaving prices range-bound.

Standard Chartered has lowered its near-term forecasts for digital assets, warning that recent price action has been challenging, to say the least, and that further weakness may lie ahead.

We expect further price capitulation in the next few months, StanChart analyst Geoff Kendrick said, projecting Bitcoin could fall to or just below $50,000 and Ethereum to around $1,400.

He noted that digital asset ETF holdings have declined in an “orderly manner,” with average Bitcoin ETF positions down about 25% and total holdings falling by nearly 100,000 coins from their October 2025 high.

With the average purchase price near $90,000, many investors are in “sharp unrealised loss territory,” making them more likely to sell, rather than buy the dip, for now, Kendrick said.

Still, he kept its longer-term outlook intact. Once the lows have been reached, we expect the asset class to recover for the rest of 2026, Kendrick said in the note.