The analyst pointed to the continued weakness of capital inflows into bitcoin

Bitcoin continues to trade in a narrow range, without showing a clear direction. As long as the price remains in a wide range and does not break through the $72,000 level, sellers will seek to return the exchange rate first to $66,000, and then to $60,000. This was announced to Izvestia on February 11 by Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company.

On Tuesday, February 10, the asset ended trading at around $68,841, down 1.85%. This is the fourth day in a row when bitcoin is moving in a sideways trend within the range of $67.3–$72 thousand. According to Baryshnikov, the weakening of consumer interest below the psychologically important level of $70,000 is becoming more noticeable. This, in turn, indicates a lack of sustained demand.

"Today, the market is in a waiting state: investors are refraining from making large bets until there is clarity on macroeconomic data. Weak retail sales figures in the United States (zero growth instead of the projected 0.4%) have increased concerns about the state of the American economy and the possible effective impact of artificial intelligence on the financial system. At the same time, expectations of easing the monetary policy of the US Federal Reserve are growing — the probability of a rate cut in June has reached 75%, and market participants have already set 58 basis points of easing for 2026. Additional pressure on the dollar is exerted by the actions of Chinese regulators, who recommended that banks limit the purchase of US Treasury bonds," Baryshnikov said.

According to the expert, despite the recent rebound from the low of $60,000, capital inflows into bitcoin remain weak so far: on February 10, an influx of $140 million was recorded (a preliminary value). Baryshnikov stressed that this is not enough for a steady increase in the rate of the first cryptocurrency. Over the past 30 days, the total outflow has exceeded $2.6 billion. The expert clarified that in such conditions, the market is prone to further consolidation or even decline.

Bitcoin's capitalization is falling. What does this mean?

Baryshnikov noted that the current trading range for bitcoin has been expanded to $66–$72 thousand, but stressed that with a prolonged sideways trend, the probability of movement to the level of $60 thousand increases. Without significant inflows of new capital and new buyers, the prospects for a fall look more likely than continued growth. The expert called the position of Michael Saylor the only positive signal, who confirmed MicroStrategy's intention to regularly purchase bitcoin.

"Against the background of the declining capitalization of the digital currency market in the global industrial mining industry, including its Russian segment, new attractive investment opportunities have emerged. During the year, the cost of advanced computing equipment models has almost halved, and mining data centers with advanced technological infrastructure currently offer the most favorable conditions for new institutional customers over the past five years," the expert added.

According to him, at the moment, industrial mining relies not only on the growth of the bitcoin exchange rate, but also on interpenetration with financial markets, providing liquidity for foreign economic activity and innovative investment products.

The theses contained in the text are not an investment recommendation, but the opinion of the editors.

Earlier, on February 2, the cost of bitcoin fell below $75 thousand. The figure of $ 74.5 thousand was recorded at 06:40 Moscow time, but 10 minutes later bitcoin rose to $ 75.8 thousand. Such a decrease occurred for the first time since April 7, 2025.

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