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

Global markets experienced a broad rebound on February 6 following a severe sell-off that left assets like stocks, Bitcoin, and commodities deeply oversold. The initial bounce was triggered by technical factors, as the S&P 500 hit its 100-day moving average and Bitcoin recovered after briefly touching $60,000, leading to mechanical buying as forced liquidations slowed. Furthermore, the previous market decline had effectively flushed excess leverage, resetting derivatives positioning and reducing subsequent selling pressure. Sentiment was also aided by US consumer data showing a six-month high, which eased immediate fears of economic deterioration and prompted bond markets to price in a slightly higher probability of a near-term Federal Reserve rate cut. While gold and silver also recovered, the article concludes that this was a technical relief rally driven by oversold conditions and positioning resets, rather than a durable trend reversal, with volatility expected to persist.

(Source：BeInCrypto)