Author: Maham Arslan

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:

1. S. Jobs Report (Wednesday): Delayed by a short government shutdown, this report will influence how much risk investors are willing to take right now.
2. 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:

• Ethereum (ETH): Down 2% to $2,052.92
• Solana (SOL): Down 1.6%
• XRP: Down 1% to $1.43

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.

On February 6, 2026, global financial markets bounced back after a tough three-day sell-off hit key support levels. As stocks, cryptocurrencies, and commodities became oversold, institutional investors and automated rebalancing sparked a broad recovery in risk assets.

S&P 500 Defends the 100-Day Moving Average

The S&P 500 rose 1.97% to close at 6,932.30, holding above its 100-day moving average. This level has been a key support since mid-2025. Traders watched it closely, as a drop below could have signaled a shift from a bullish to a bearish market.

The Dow Jones Industrial Average added to the rally, jumping over 1,200 points to close above 50,000 for the first time. Tech giants such as Amazon and Alphabet faced pressure from high 2026 spending forecasts, but the Philadelphia Semiconductor Index (SOX) climbed 5.7%, driven by gains in AI hardware companies like Nvidia.

Bitcoin Reclaims $70,000 Amid Leverage Reset

Bitcoin (BTC) made a strong intraday comeback, rising almost 15% from a 16-month low of $60,017 to regain the $70,000 mark. This jump was mainly caused by a large leverage washout.

• Forced Liquidations: Over $1 billion in long positions were wiped out during the initial drop to $60,000, effectively clearing the “weak hands” from the market.
• Funding Rate Stabilization: As derivatives markets cooled, spot buyers stepped in to capitalize on the 0.236 Fibonacci retracement level near $64,400.
• Institutional Rebalancing: Mechanical buying from crypto-exposed funds helped sustain the bounce as they rebalanced risk exposure for the month.

US Consumer Sentiment Hits Six-Month High

The University of Michigan’s Consumer Sentiment Index rose to 57.3 in February, beating market expectations. Although this is still low compared to past years, it was the third monthly increase in a row and the highest reading since August 2025.

The data had a cooling effect on bond markets:

• Bond Yields: Short-term Treasury yields dipped as the data lowered immediate fears of a hard economic landing.
• Fed Expectations: Market participants increased bets on a near-term Federal Reserve rate cut, providing a tailwind for non-yielding assets.
• Precious Metals: Gold and silver posted sharp recoveries, reclaiming ground lost during the peak of the week’s liquidity stress.

Technical Outlook: Can the Rally Sustain?

Even with excitement over the Dow reaching 50,000 and Bitcoin’s $10,000 jump, analysts caution that this could be just a temporary relief rally, not a lasting change in trend.

Bitcoin (BTC/USD) 4H Analysis

Bitcoin is now testing the 0.5 Fibonacci resistance zone between $69,450 and $71,700. Although recent trading shows strong dip-buying, the price is still below its 50-day EMA and a downward trendline.

For aggressive traders, buying on pullbacks near $69,400 could target a move toward $73,000. A stop-loss should be set just below $67,200 to protect against another sharp drop.

Market Conclusion

The events of February 6 show how important it is for markets to reset positions. By reducing excess leverage and reaching long-term moving averages, the market has found a short-term bottom. Investors should stay cautious, since volatility from AI spending worries and interest-rate uncertainty will likely continue this quarter.

The cryptocurrency market is going through a sharp correction. Bitcoin (BTC) has dropped 7% to $70,000. This drop is mainly due to a strict Federal Reserve policy, large holders selling off, and more than $800 million in leveraged liquidations.

Analysts say Bitcoin could fall further toward $60,000, as technical indicators now show “extreme fear.”

Why Is the Crypto Market Crashing?

The current crypto market crash comes from a mix of big economic and technical pressures. The main reasons are:

• Hawkish Federal Reserve: Signs of ongoing high interest rates have pushed the U.S. Dollar Index (DXY) above 97.5, making investors less interested in riskier assets like Bitcoin.
• Institutional Outflows: Big investors such as BlackRock have sold large amounts of Bitcoin, with $373.8 million leaving spot BTC ETFs recently.
• Whale Activity: Large holders have sold off big amounts, causing a chain reaction and pushing the Crypto Fear & Greed Index into “extreme fear.”

How Much Has the Crypto Market Lost Since the October 10 Crash?

Since the market peak on October 10, the total value of all cryptocurrencies has dropped by $1.87 trillion. Just in the past week, the market lost $650 billion as investors moved their money into the rising U.S. dollar.

$800M Liquidations: What Does This Mean for Traders?

Coinglass reports that more than $800 million was liquidated in the past 24 hours, impacting about 165,000 traders.

• Long vs. Short: Of the total, $650 million came from long positions, while $150 million in short positions were also liquidated.
• Largest Single Trade: The biggest single liquidation was $11.36 million in BTCUSDT on Hyperliquid.
• Hyperliquid Lead: The platform had $50 million in long liquidations, showing that too much leverage is quickly being removed from the market.

Technical Analysis: Is Bitcoin Headed to $60,000?

Technical indicators show the downward trend may continue. For the first time since 2022, Bitcoin has dropped below its 365-day moving average, which is an important long-term support level.

• BTC Bull Score: This sentiment index has dropped from 80 in October to zero, showing clear weakness in the market.
• Net Realized P/L: The 3D-SMA Net Realized Profit & Loss is now at –$317 million per day, which means more investors are selling at a loss.
• Key Support Levels: If Bitcoin falls below $70,000, analysts such as Peter Brandt and Michael Burry say the next support levels are $60,176 and $47,824.

Are Gold and Silver Also Falling?

Yes. Even though gold and silver are usually seen as safe havens, both dropped as the U.S. dollar rose. Gold fell 2%, and silver dropped 13% on Thursday. This shows that many investors are moving to cash across all markets.

Bitcoin continued to fall this week, dropping toward $83,000 after it could not hold recent support levels. This marks a sharp change after weeks of unstable prices, and traders are becoming more cautious as they wait for an executive order from US President Donald Trump. Even without many details, the uncertainty has been enough to drive risk assets lower.

Today, Bitcoin lost about 6.5%, making its weekly drop around 7.5%. Ethereum also fell over 7% to about $2,700, and the total crypto market value dropped to around $2.8 trillion. Investors are now focused on protecting their capital, and digital assets are moving more closely with overall market risk trends.

$2B Liquidations Expose Leverage Fragility

The selloff soon became technical as leverage was reduced across major exchanges. Forced liquidations sped up the decline, showing how sensitive crypto markets are during times of broader financial stress.

Key takeaways from the liquidation wave:

• Over $2 bn in crypto derivatives positions were liquidated
• Bitcoin and Ethereum long positions absorbed most of the damage
• Funding rates reset lower as traders reduced exposure

This situation is not new. When traders lose confidence and there is less liquidity, even small events can cause big price swings. Right now, traders are taking smaller positions, but confidence is still weak.

Trump, Fed Speculation Keep Traders Defensive

Markets are also considering new political risks. Trump has confirmed an upcoming executive order and a policy meeting, and there is ongoing speculation about his pick for the next Federal Reserve Chair. Many see former Fed Governor Kevin Warsh as a top candidate, which raises questions about future interest rates and liquidity.

These developments are important for Bitcoin. As expectations for monetary policy change, crypto prices are more affected by real yields, the strength of the dollar, and overall risk appetite. Until there is more certainty, traders seem hesitant to return in force.

Bitcoin Price Prediction: Charts Signal Pressure Near $80K

Looking at the charts, Bitcoin still looks weak. The price was once again stopped by a downward trendline that has limited rallies since November. On the daily chart, long red candlesticks with small lower wicks show that selling is controlled, not panicked.

Bitcoin has now dropped below $86,400, which could lead to a move toward $80,500, and possibly down to $76,400 if selling continues. The 50-day moving average is still above the price, which supports a bearish outlook. Momentum indicators agree, as the RSI is in the low 40s and there is no sign of a bullish reversal yet.

If Bitcoin does not move back above $90,400 and close above the trendline, any rebounds are likely to be seen as temporary corrections.

Trade idea: Consider selling if Bitcoin rallies below $88,000, with a target of $80,500 and a stop above $91,000.