Why Is the Crypto Market Rising Today (Feb 7)?

The cryptocurrency market has posted a strong recovery over the past 24 hours, climbing about 7.5% and pushing the total market capitalization to approximately $2.41 trillion. This upward movement was largely driven by Bitcoin’s sharp rebound after a recent decline.

Bitcoin, which had dropped to a low near $60,000, quickly recovered and moved back above the $70,000 mark. Because Bitcoin holds a dominant share of the overall crypto market—close to 59%—its price movement played a key role in lifting the entire market.

Factors Behind the Market Recovery

The latest surge in crypto prices appears to mirror a broader rebound in traditional financial markets. Major assets like the S&P 500 and gold have also seen gains, signaling improved investor sentiment across multiple sectors.

Bitcoin’s quick bounce from oversold levels has restored confidence among traders, especially after the market entered extreme fear territory. The Fear and Greed Index had fallen to very low levels, which often signals the possibility of a short-term reversal.

In addition, reports of increased accumulation by large investors and exchanges have helped support the upward momentum.

Although the market has shown resilience after recent sell-offs, analysts believe that Bitcoin must maintain levels above $70,000 for the recovery to continue. The next major influence on the market could come from the U.S. CPI data release on February 12, which may affect investor sentiment.

Bitcoin’s Next Price Targets

Bitcoin has gained around 9% in the last 24 hours, trading near $70,700 at the time of writing. Market participants are watching this price level closely, as holding above $70,000 could signal stronger bullish momentum.

Recent data also shows that spot Bitcoin ETFs recorded net inflows of about $330 million on February 6, adding to the positive outlook.

If Bitcoin can sustain support above $70,000, the next potential target may be around $75,000. However, if the price fails to hold this level, it could face renewed selling pressure and move back toward the $65,000 range.

Altcoins Also Rebound

The broader crypto market has followed Bitcoin’s recovery.

• Ethereum climbed about 8%, staying above the $2,000 level.
• XRP rose roughly 15%, making it one of the top performers.
• Solana gained about 10%, trading near $88.

Other major cryptocurrencies, including ADA, DOGE, and BCH, have also posted noticeable gains. If the positive momentum continues, the overall market could see further upward movement in the coming days.

Source: Coingape

Voice Of Osiz

The recent rebound in the crypto market highlights the growing maturity and resilience of digital assets, with Bitcoin leading the recovery above the $70,000 mark. This positive momentum across major cryptocurrencies signals renewed investor confidence and stronger market sentiment. At Osiz, we see such shifts as indicators of the expanding role of blockchain technology in global finance. As a leading Blockchain Development Company, Osiz empowers businesses to leverage secure, scalable, and future-ready crypto solutions. From exchange platforms to tokenization and DeFi ecosystems, we help clients stay ahead in rapidly evolving markets. This market recovery reinforces the long-term potential of blockchain-driven financial innovation.