$BTC . The Technical Breakdown
Bitcoin recently suffered its sharpest drop in months, briefly plunging to $60,000 on February 5th before a sharp rebound.
The "Oversold" Bounce: The Relative Strength Index (RSI) hit 30 (deeply oversold) on the daily charts, triggering a relief rally back above $70,000.
Decision Zone: We are currently in a "wait-and-see" phase. To confirm a trend reversal, BTC needs to close decisively above the $74,000–$76,000 range.
2. Key Price Levels to Watch3. Market Sentiment
The market is currently characterized by "Extreme Fear." While institutional inflows through ETFs continue, they have slowed compared to the 2025 frenzy. Macroeconomic pressures—specifically uncertainty regarding Federal Reserve rate cuts and a sell-off in the tech sector—are treating Bitcoin more like a high-risk asset than a "digital gold" hedge at this moment.
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