Bitcoin ($BTC) is currently facing a turbulent February, trading around $67,100 after a sharp 3% drop today. While the "digital gold" has recovered from last week’s terrifying $60,000 flash crash, it is struggling to find the momentum needed to reclaim the psychological $70,000 level.

​Here is the breakdown of the "Operation February" volatility and the key levels you need to watch.

​📉 Why is Bitcoin Down Today?

  • Macro Shockwaves: The U.S. Jobs Report released today was surprisingly strong. While good for the economy, this suggests the Federal Reserve will keep interest rates higher for longer, causing investors to rotate capital into the U.S. Dollar.

  • ​Institutional Outflows: Spot Bitcoin ETFs have seen a shift in sentiment, with over $3 billion in outflows since the start of the year as hedge funds unwind "carry trades."

  • ​Miner Capitulation: With energy costs rising due to AI data center competition, miners are being forced to sell their rewards to cover operational costs, creating constant "sell pressure."

​📊 Key Technical Battlegrounds

​The chart is currently a high-stakes battleground. Bitcoin is trading below its 50-day and 100-day EMAs, signaling a short-term bearish trend.

  • Resistance ($73,000): Must reclaim this level to confirm a trend reversal toward $80k.

  • ​The Pivot ($67,000): The current "make-or-break" line. Bulls are fighting to hold this.

  • ​The Floor ($60,000): Major psychological support. A break below this could target $52,000.

​🔮 Analyst Corner: What’s the Target for 2026?

​Despite the red candles, long-term conviction remains high:

  • The Bull Case: Analysts from firms like Bernstein maintain a $150,000 target for late 2026, viewing this crash as a "narrative reset" before the next leg up.

  • ​The Bear Case: Some warn of further consolidation between $50k–$60k through the summer until Fed policy officially pivots to rate cuts.

​💡 Final Thoughts

​The Fear & Greed Index is at "Extreme Fear." Historically, these moments of maximum "blood in the streets" have been the most profitable entry points for long-term HODLers, though short-term traders should exercise extreme caution with leverage.

​What’s your move? Are you buying the dip or waiting for $60k? 👇

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