XAU/USD – Daily Chart
btc-usd
Forex Signals Feb 6: AMZN, Silver, Bitcoin Price Crash – Will It Rebound Soon?
Extreme volatility in the price of silver, a Bitcoin meltdown, and poor Amazon earnings all contributed to a severe selloff in stocks that..
•
Last updated: Friday, February 6, 2026
Quick overview
- A significant selloff in global markets was triggered by disappointing Amazon earnings and a sharp decline in Bitcoin prices.
- All major US equity indices fell over 1%, with the Russell 2000 dropping nearly 2%, as investors faced a broad risk-off sentiment.
- Silver experienced extreme volatility, prompting the CME to raise margins on futures, while US labor data continued to show signs of weakness.
- Upcoming earnings reports from companies like Toyota and Philip Morris are expected to test market resilience amid these challenging conditions.
Live BTC/USD Chart
BTC/USD
MARKETS TREND
Extreme volatility in the price of silver, a Bitcoin meltdown, and poor Amazon earnings all contributed to a severe selloff in stocks that widened the risk-off trend.
Broad Selloff Engulfs US Equities
It was another bruising session for global markets as the rout in software and technology shares broadened into a near-universal selloff. All major US equity indices finished down more than 1%, with the Russell 2000 underperforming and sliding nearly 2%. What began as a concentrated unwind in high-multiple tech continued to spill over into cyclicals, small caps, and defensives, leaving investors with few places to hide.
Amazon Earnings Deepen Equity Unease
The pressure intensified after the close when Amazon reported quarterly results. While revenue held up, the company missed on the bottom line and, more importantly, shocked markets with a capital expenditure outlook of roughly $200 billion for the year—well above the $146 billion investors had been expecting.
The combination of a soft Q4 earnings performance and sharply higher capex weighed heavily on equity futures, which continued to slide in after-hours trading.
Bitcoin Breakdown Signals Broader Risk Stress
If equity markets looked fragile, crypto markets appeared outright distressed. Bitcoin fell to around $60,000, extending losses to roughly 20% on the week and pushing the drawdown to nearly 50% from its October 6 record high.
Such a rapid and deep decline is rarely contained within crypto alone. Bitcoin’s weakness has increasingly been interpreted as a broader warning for risk assets, particularly in an environment where liquidity conditions are tightening and speculative positioning is being unwound.
Silver Whipsaws Amid Extreme Volatility
Precious metals also experienced sharp swings, with silver seeing especially extreme volatility. Prices tumbled to around $64 before stabilising, marking another violent move in what has become a highly unstable market.
In response to the volatility, the CME raised margins on COMEX gold and silver futures once again. Higher margin requirements often exacerbate near-term pressure, as leveraged participants are forced to reduce positions, adding to price swings.
Interestingly, silver found support near the 100-day simple moving average, where price action began to stall. That technical level prompted the opening of a tactical buy trade near the lows, reflecting the view that some of the forced liquidation may have already played out—at least in the short term.
Weak US Labour Data Adds to Downside Pressure
Compounding the negative tone, US employment data throughout the week has consistently disappointed. ADP employment, ISM services, and JOLTS data all pointed to softening labour conditions. Thursday’s initial jobless claims and Challenger job cuts data added further evidence that momentum in the labour market is fading more quickly than expected.
Key Market Events to Watch: Earnings Reports Thursday
Thursday’s earnings will test market conviction across very different business models, with investors likely to reward clarity and margin resilience while punishing any signs of slowing demand or guidance uncertainty.
Toyota Motor Corporation (TM)
- Event: Q3 FY2026 Earnings
- Timing: Before Market Open (BMO)
- Consensus EPS: 3.18
- Recent Performance: Shares down ~11.8% over the past period
- What to Watch:
- Impact of yen moves on margins and overseas profitability
- Vehicle pricing trends and incentives in North America
- Hybrid and EV mix, especially demand resilience in Japan and Asia
- Guidance on production volumes amid global auto slowdown concerns
Philip Morris International (PM)
- Event: Q4 FY2025 Earnings
- Timing: Before Market Open (BMO)
- Consensus EPS: 1.70
- Recent Performance: Shares down ~2.2% recently
- Market Capitalisation: ~$283.3bn
What to Watch:
- Growth trajectory of smoke-free products, particularly IQOS
- Pricing power versus volume softness in traditional cigarettes
- FX headwinds and emerging-market demand trends
- Commentary on margins and cash flow stability in a risk-off market
Ubiquiti Inc. (UI)
- Event: Q2 FY2026 Earnings
- Timing: Before Market Open (BMO)
- Consensus EPS: 3.08
- Recent Performance: Shares up ~18.8%
- Market Capitalisation: ~$34.9bn
What to Watch:
- Sustainability of recent momentum after a strong rally
- Demand trends for networking equipment amid tighter IT spending
- Supply-chain normalization and inventory management
- Any changes to forward guidance that could challenge elevated expectations
Gold Resumes the Decline Again As Safe Havens Lose Status
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. In December, gold jumped above $4.3800 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20 daily SMA (gray) held as support last week and buyers returned and pushed XAU above the $5,000 mark for the first time during Asian hours and extended the rally in New York, printing a fresh record high near $5,111 before retreating below $5,000 late in the session. But buyers returned into Asian session and XAU climbed to $5,598 but pulled back below $5,000 again.
USD/JPY Rebounds Above 155
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Heads to $50K
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the support and resistance zone above $65K.
BTC/USD – Weekly Chart
Ethereum Slips Below $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,500.
ETH/USD – Weekly Chart
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
ABOUT THE AUTHOR
See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Save