Bitcoin Price Stalls at $68K as Fed Shift Nears — Breakout or Breakdown Next?
On Tuesday, February 10, 2026, Bitcoin (BTC) started the day lower, falling below the key $70,000 mark. Now trading around $68,600...
Quick overview
- Bitcoin (BTC) has fallen below $70,000, currently trading around $68,600 after a volatile week.
- The market is experiencing sideways movement between $68,000 and $72,000 as investors await clearer economic signals.
- Technical analysis indicates that Bitcoin is facing resistance at $71,700 and support at $67,200, with key levels to watch for potential trading strategies.
- Recent events, including the nomination of Kevin Warsh as Federal Reserve Chair and a glitch at Bithumb, have added uncertainty to the market.
On Tuesday, February 10, 2026, Bitcoin (BTC) started the day lower, falling below the key $70,000 mark. Now trading around $68,600, Bitcoin has had trouble regaining strength after a volatile week, with prices dropping to $60,000 before bouncing back.
Right now, the market is stuck in a range between $68,000 and $72,000. This sideways movement comes after forced liquidations made last week’s drop worse, so investors are waiting for clearer economic signals before making moves.
Bitcoin Technical Analysis: 4H Chart Signals Compression
Recent 4-hour chart data shows that the sharp selloff from the $78,900 high has slowed down, but buyers still haven’t taken charge.
- Descending Channel: Bitcoin’s price has followed a downward channel, bouncing off the falling trendline several times.
- Fibonacci Levels: BTC found support at the 0.236 Fib level ($64,400) and is now trading between the 0.382 ($67,200) and 0.5 ($69,450) retracement levels.
- Momentum Indicators: The RSI is between 40 and 45, which shows that selling pressure is easing, but there’s no clear sign of a bullish trend yet.
Trade Idea: Some analysts recommend buying on dips near $67,200, setting a stop-loss below $64,400, and aiming for a target of $71,700, which is the 0.618 Fibonacci resistance.
U.S. Economic Data and the “Warsh Effect”
The crypto market is now watching events in Washington, as investors prepare for two big events this week:
- S. Jobs Report (Wednesday): Delayed by a short government shutdown, this report will influence how much risk investors are willing to take right now.
- CPI Inflation Data (Friday): This is still the key report for guessing what the Federal Reserve will do next.
What’s next for $BTC?
Bitcoin is holding near $70K after bouncing from a 15-month low around $60K, with traders growing cautious ahead of this week’s U.S. NFP and CPI releases.
The Fear & Greed Index remains deep in Extreme Fear at 9, a level that has historically coincided… pic.twitter.com/nk9HFydHcs
— Adex_crypt (@Orlandopirate01) February 10, 2026
The nomination of Kevin Warsh as the next Federal Reserve Chair is also adding uncertainty. Traders are discussing if Warsh will take a strict approach and tighten liquidity. He has called Bitcoin a “store of value” like gold, but his focus on monetary discipline and a possible U.S. CBDC could put pressure on speculative assets for now.
The Bithumb “Glitch” and Altcoin Softness
Market sentiment took another hit after a mistake at the South Korean exchange Bithumb. An internal error accidentally credited users with 620,000 BTC (about $43 billion) instead of small cash rewards. Although 99.7% of the coins were recovered, the incident caused a short-lived 15% price difference on the platform and led to calls for stricter global regulation.
As Bitcoin struggled, the wider altcoin market also saw moderate drops:
Key Bitcoin Support and Resistance Levels
To navigate the current market, traders should focus on clear technical levels. Bitcoin faces strong resistance near $71,700, which matches the 0.618 Fibonacci retracement and is likely to attract selling.
$69,450 serves as a short-term pivot, while $67,200 is the first support level, matching the 0.382 Fib level that has often absorbed selling pressure.
Below that, $64,400 is a key support, marking the recent swing low. If this level breaks, downside risk increases. As long as BTC stays above this base, the market is more likely to consolidate than continue falling.
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