US Consumer Data Sparks Relief Rally in Bitcoin, Gold, and Stocks

Global markets staged a broad rebound on February 6 after a sharp sell-off pushed stocks, crypto, and commodities into deeply oversold territory. Bitcoin recovered to around $70,000, while US equities, gold, and silver advanced as technical buying and easing near-term macro fears helped stabilize prices.

The bounce began when key technical levels held. The S&P 500 touched its 100-day moving average, prompting mechanical buying from funds rebalancing risk, and Bitcoin mirrored the move after briefly falling to $60,000 as forced liquidations slowed and funding rates stabilized.

A prior deleveraging had already cleared much of the excess leverage that amplified the decline, reducing margin calls and forced selling. That positioning reset allowed prices to rebound despite the absence of fresh bullish catalysts. Consumer sentiment data on February 6 came in stronger than expected, reaching a six-month high and easing immediate fears of sudden economic deterioration.

United States