CoinDesk Podcast Network The Blockspace Pod: Bitcoin Craters, French Gov't Challenge MARA Acquisition, Cipher's Note Sees $13B But Interest
Feb 6, 2026
Bitcoin plummets toward $65k amid a historic selloff and a steep 13% difficulty drop. France pushes back on a foreign miner's data center takeover, raising geopolitical and energy-security concerns. Major miners announce huge power builds while Cipher’s $2B note attracts $13B in bids and Tether moves $100M into custody infrastructure.
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Historic Bitcoin Drawdown And Support Zone
- Bitcoin experienced a historic ~50% drawdown over six months, suggesting structured institutional selling rather than retail panic.
- Checkmate and others point to a demand zone between $55k–$70k as probable longer-term support.
Use DCA During Volatility
- If you hold Bitcoin long-term, maintain conviction and use dollar-cost averaging through volatility.
- Increase DCA at lower prices to improve long-term position rather than panic selling.
Gemini Cuts Staff And Retreats Markets
- Gemini plans to lay off ~200 staff and exit EU and Australia after a tough post-IPO period.
- Colin frames this as part of broader exchange contraction and bear-market hiring cycles.