PANews February 17 News, according to Wintermute research report, as spot trading volume continues to shrink, leverage has become the main driver of short-term volatility. Without “structural buying” (long-term funds capable of absorbing selling pressure) to smooth out fluctuations, the market will experience sharp surges and drops on both the bullish and bearish sides. From a technical perspective, BTC has found support near its 200-week moving average, which historically is often the bottom of a bear market.
Wintermute believes that until clear macro signals re-emerge, every rebound will be seen as a risk-off opportunity rather than a reason to chase momentum.
For crypto, the key to returning to an upward trajectory still depends on macro clarity. The 200-week moving average remains intact, and the market has not shown structural damage, meaning that once macro uncertainty diminishes, the recovery could be faster than current sentiment suggests. In the short term, we are in a range-bound, slightly downward state; the order book is dominated by leverage, and $70,000 remains an important near-term resistance level.
Finally, a recovery may occur in the second half of 2026, but reaching that point will require patience, and most participants are probably already exhausted.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Glassnode: BTC selling pressure has eased, institutional demand remains in the testing phase
Foresight News reports that Glassnode's data shows that Bitcoin spot ETF capital flows have stabilized after continuous outflows. The net inflow trend on the 14th has shifted to an upward trend, indicating that as BTC breaks above $70,000, selling pressure has eased. Institutional demand is still in the testing phase, but early signs of reaccumulation are emerging.
GateNews2m ago
Bloomberg: China halts gasoline and diesel exports to "secure domestic demand" due to 57% reliance on Middle Eastern crude oil
The National Development and Reform Commission of China recently issued a verbal order to five major refining companies, requiring an immediate halt to the export of gasoline and diesel to ensure domestic supply. The validity of this order and whether alternative crude oil sources can be found remain uncertain, especially after the US-led coalition attacked the Persian Gulf, affecting crude oil transportation. If the conflict continues, China will face more severe import challenges.
動區BlockTempo6m ago
Data: If BTC drops below $69,527, the total long liquidation strength on mainstream CEXs will reach $1.976 billion.
ChainCatcher reports that, according to Coinglass data, if BTC drops below $69,527, the total long liquidation strength on major CEXs will reach $1.976 billion. Conversely, if BTC breaks above $76,748, the total short liquidation strength on major CEXs will reach $1.756 billion.
GateNews11m ago
Bitcoin Rebounds As Investors Return Amid Global Market Turmoil
Bitcoin ($BTC) is gaining renewed investor interest despite global turmoil, as it shows signs of decoupling from traditional markets. A recent recovery indicates rising confidence, which could lead to a broader growth rally in the digital asset sector.
BlockChainReporter18m ago
BTC Breaks Through 73,000 USDT
Gate News bot message, Gate market display, BTC breaks through 73,000 USDT, current price 73,002.6 USDT.
CryptoRadar18m ago
Bitwise Expands Bitcoin Developer Funding With $233K Donation From BITB ETF Profits
Bitwise donates $233000 to Bitcoin developers through BITB profits bringing total support to $383000 since 2024.
BITB Bitcoin ETF sends part of its profits to nonprofits that fund developers securing the Bitcoin network.
BITB inflows reach about $2.2 billion as Bitwise links ETF growth wi
CryptoNewsLand21m ago
