Bitcoin Faces $60K Retest as CPI, DXY, and Miner Exodus Converge

VADODARA, February 9, 2026 — Bitcoin confronts a critical inflection point this week. Market structure suggests a potential retest of the $60,000 level. This daily crypto analysis dissects five converging factors driving volatility. According to Cointelegraph, traders predict this move could liquidate short positions. The U.S. Consumer Price Index (CPI) release, Dollar Index (DXY) weakness, Japanese election fallout, and miner outflows amplify pressure.

Investigation: The Five-Factor Convergence

Cointelegraph outlines five key market drivers. First, many traders anticipate a $60,000 retest. They suggest the current rally aims to liquidate short positions. Second, the U.S. releases January CPI data this week. This inflation metric directly impacts Federal Reserve policy expectations. Third, the DXY failed to reclaim the 98 level. Historically, DXY weakness correlates with Bitcoin strength. Fourth, Japan's general election results may weaken the yen. Consequently, selling pressure could spill into crypto markets. Fifth, large-scale BTC transfers from miners to exchanges followed recent price drops. On-chain data indicates these movements often precede volatility.

Market Context & Historical Precedent

Historically, Bitcoin faces heightened volatility during CPI releases. The Federal Reserve uses this data to guide interest rate decisions. In contrast, DXY levels below 98 have previously triggered bull runs. For instance, the 2021 cycle saw DXY dips precede major rallies. Underlying this trend, miner outflows signal distribution phases. Similar patterns emerged before the 2022 bear market. , global events like Japan's election impact currency flows. A weaker yen may force institutional rebalancing. Related developments include exchange delistings amid extreme fear and regulatory scrutiny in South Korea. These factors compound market uncertainty.

Technical Architecture & Price Action

Market structure shows Bitcoin trading at $70,157. The 24-hour trend is a marginal 0.27%. Key support resides at the $60,000 psychological level. Resistance forms near the $75,000 Fibonacci 0.618 retracement from all-time highs. The Relative Strength Index (RSI) likely hovers in neutral territory. A break below $60,000 would invalidate the current consolidation. Conversely, reclaiming $75,000 could signal renewed bullish momentum. Volume profile analysis reveals thinning liquidity around current levels. This creates a Fair Value Gap (FVG) between $65,000 and $70,000. Order blocks from previous rallies now act as dynamic support.

By The Numbers

Why It Matters

This convergence matters for institutional and retail portfolios. CPI data influences global liquidity cycles. A hot print could strengthen the dollar, pressuring risk assets. DXY failure at 98 suggests underlying dollar weakness. This may funnel capital into alternative stores of value. Miner outflows indicate potential selling pressure. Large transfers to exchanges increase available supply. According to Ethereum.org's documentation on network security, miner behavior often mirrors broader market sentiment. Japan's election adds geopolitical risk. A weaker yen might trigger cross-asset rebalancing. Retail market structure remains fragile amid Extreme Fear.

Expert Commentary

Market structure suggests the $60,000 level is a liquidity grab. Short-term volatility will hinge on CPI and miner holdings. Historical cycles show such convergences often resolve with sharp moves. The 12-month outlook remains data-dependent.

— CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Two data-backed scenarios emerge. First, bullish momentum requires holding key supports. Second, bearish pressure may intensify if macro data disappoints.

• Bullish Invalidation Level: $60,000. A break below this support confirms distribution and targets lower liquidity pools.
• Bearish Invalidation Level: $75,000. Reclaiming this Fibonacci resistance invalidates the downtrend and opens path to $80,000.

The 12-month institutional outlook hinges on macro clarity. Federal Reserve policy, detailed on FederalReserve.gov, will dictate liquidity flows. Miner capitulation could signal a cycle bottom. Conversely, sustained outflows may prolong consolidation. The 5-year horizon favors structural adoption, but short-term pain remains likely.