Published: Thursday, February 12, 2026 · 10:12 AM | Updated: Thursday, February 12, 2026 · 10:12 AM
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🗝️ Key Points
- 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.
- 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.
- 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.
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.
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.
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