 ▲ Bitcoin (BTC)/AI-generated image |
Bitcoin (BTC) is quickly recovering its losses amid a price correction, fueled by strong dip-buying inflows that are laying the groundwork for a technical rebound.
According to Yahoo Finance on February 17 (local time), Bitcoin has withstood downward pressure in the market as buyers stepped in to purchase at lower levels, driving a recovery in price. Although Bitcoin recently declined to test key support levels, buying interest defended critical zones and slowed the downward trend. Analysts say the likelihood of a short-term reversal has increased as buyers begin to regain control of the market.
Technical indicators show that if Bitcoin maintains stable movement above the 100-hour simple moving average (SMA), there is ample room for further gains. Market consensus suggests that a sustained breakout above the key resistance levels of $68,500 and $70,000 could signal the full resumption of a bull market. Conversely, if buying momentum weakens and support levels break down, additional correction may be unavoidable, though the current supply-demand balance appears tilted to the upside.
Market participants are particularly focused on the strong buy wall formed around $67,000. Concentrated buy orders in this range are acting as a buffer against further declines, indicating that investors view current price levels as an attractive entry point. The decreasing amount of Bitcoin held on exchanges is also interpreted as a positive signal that a buyer-dominant market environment is taking shape.
Ongoing accumulation by large institutions such as Strategy is another key factor enhancing the market’s resilience. These companies are increasing their Bitcoin holdings from a long-term perspective without being swayed by short-term price fluctuations, thereby reinforcing the market’s bottom. Institutional confidence is providing psychological stability for retail investors and helping restore overall market sentiment.
Ultimately, Bitcoin is consolidating energy to re-enter an upward trajectory, supported by strong buyer conviction. Upcoming macroeconomic data releases and changes in market liquidity are expected to be decisive variables shaping Bitcoin’s next move. Investors remain cautious, closely watching whether the price can break through major resistance levels and establish new highs.
Disclaimer: This article is for investment reference only, and no responsibility is assumed for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.