Bitcoin’s Price Tested as Major Industry Events Commence

Bitcoin CRYPTO000BTC

Bitcoin began the trading week by slipping below the psychologically significant $69,000 threshold. This decline coincides with the launch of several pivotal industry conferences in New York and the Middle East, creating a backdrop of institutional interest juxtaposed with near-term trader caution.

The current price volatility unfolds alongside a busy schedule of international gatherings. Today marks the start of Bitcoin Investor Week 2026 in New York, a forum for asset managers and infrastructure providers. Simultaneously, the Global Blockchain Show is underway in Riyadh, highlighting the expanding role of the Middle East in the digital asset ecosystem.

Further activity is scheduled for tomorrow, February 10, with the opening of Consensus Hong Kong. Market observers anticipate these three events will yield significant insights on regulatory developments and cross-border payment innovations.

ETF Inflows Contrast with Market Weakness

As of Monday morning, Bitcoin was trading near $68,992, representing a 24-hour loss of approximately 1.5%. The cryptocurrency failed to maintain its footing above the $70,000 level, which it had briefly reclaimed over the weekend.

This recent softness presents a notable contrast to fund flow data. Net inflows into U.S. spot Bitcoin ETFs totaled over $331 million at the end of last week. These figures suggest institutional investors are maintaining their long-term strategies despite short-term price fluctuations.

Key Levels and Market Drivers to Watch

The immediate focus for analysts is whether the support zone around $68,000 will hold. A sustained break below this level could signal the beginning of a deeper correction.

On the upside, potential announcements from the ongoing conferences—particularly regarding asset tokenization and stablecoin regulation—could provide fresh momentum for the market. From a network perspective, the United States continues to lead in Bitcoin mining, accounting for nearly 38% of the global hashrate. The majority of these North American operations are now powered by renewable energy sources.