Global markets rebounded on February 6 after a brutal sell-off pushed stocks, crypto, and commodities into deeply oversold territory. Bitcoin climbed back toward $70,000, while US equities, gold, and silver all posted gains.

The move was driven less by optimism and more by mechanics. Forced selling and deleveraging had run their course, allowing prices to stabilize once key support levels held. This was a relief rally sparked by exhaustion—not a sudden shift in fundamentals.

Oversold conditions can trigger sharp rebounds, but they don’t erase the underlying uncertainty markets are still facing.