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Bitcoin experienced a major market correction in early 2026, falling 46% from its $126,000 level. always high and in short drown below $61,000 on February 6.
The decline wiped $1 trillion off the market cap and made headlines warning of a defining moment for crypto. Social media was abuzz with what he did, but many stayed behind.
Oobit’s survey of 1,006 Bitcoin holders in America and the analysis of the opinions of 117,630 posts across the 10 major crypto subreddits show that fear has not translated into large sales.
Anxiety and hope dominate the emotional responses, with 39% of those feeling anxious and 38% optimistic.
Despite the turmoil, 69% of respondents did not sell their assets or plan to, showing what the community likes to call “diamond hands.” Only 8% were classified as true fear mongers.
Among those with anxiety, 72% still want it, and 64% of those with fear said the same.
Overall, 75% would keep their property even if prices continue to fall. The survey shows that fear and hope often co-exist: 86% of respondents say they are experiencing both feelings of holding Bitcoin, according to research.
Bitcoin recovery is coming
Investors are also hoping for a recovery. Two-thirds of owners (66%) expect Bitcoin to reach an all-time high, with the median forecast for 12 months at $75,000.
Expectations vary by demographic: Gen Z participants were the highest at 70%, compared to 60% of baby boomers. High earners ($100,000+) predicted a median price of $80,000, while those earning less than $100,000 predicted $72,000.
Market behavior during the downturn also included opportunistic buying. About 25% of owners bought Bitcoin during the dip, when young and high-income traders were most active in buying.
Reddit’s opinion echoed the survey’s findings. Out of 117,630 posts, the positive comments outnumbered the negative by almost 2 to 1.
Bitcoin prices recovered faster than expected. By February 12, the market had rebounded to $66,221, although online sentiment was followed, reflecting the volatility of sentiment among stakeholders.
The data shows that investors are sensitive to price volatility, with volatility accounting for nearly one-third of price volatility during downturns.
At the time of writing, Bitcoin is at a cost of $70,400 after briefly trading above $75,000 this week.
Yesterday, Bitcoin fell below $ 70,000, trading close to $ 69,500, as the rise in energy prices and the strong stance of the Federal Reserve strengthened the dollar and weighed on risky assets.
The decline coincided with Brent crude surging past $114 a barrel amid tensions in the Middle East, which led to market weakness and a nearly 4% drop in Bitcoin over 24 hours.
