Bitcoin is trading around 66,500-67,800 USD, easing slightly after a sharp midweek rebound but holding well above the brief dip toward 66,000 USD.
The market remains in consolidation after a volatile February that saw BTC slide from above 90,000 USD in late January to the mid‑60,000s, unwinding a crowded long trade but leaving the broader uptrend technically intact.
According to market data, Bitcoin is down about 0.7% over the past 24 hours and roughly 20% from its level a year ago, underscoring how extended the prior rally had become.
Rekt Capital and CryptoJelleNL: Mid‑Cycle, But Range‑Bound
Popular analyst Rekt Capital notes that Bitcoin’s current structure still resembles a mid‑cycle re‑accumulation range, with price repeatedly retesting key support rather than breaking down into a deeper bear phase.
He argues that as long as BTC holds above the recent lows and continues to print higher higher‑lows on the daily chart, the broader cycle remains constructive, even if short‑term price action stays choppy.
That view fits with derivatives and prediction‑market pricing, where contracts assign the highest odds to Bitcoin hovering in the 68,000–70,000 USD band in the near term, rather than staging an immediate breakout or breakdown.
Analyst CryptoJelleNL offers a complementary view, emphasizing that the recent pullback has largely been contained within a well‑defined trading range and that momentum indicators are slowly resetting, which could provide fuel for a renewed move higher once resistance near the 68,000-70,000 USD area is decisively cleared.
Both analysts point to derivatives and prediction‑market pricing, where contracts still assign the highest odds to Bitcoin hovering in that band in the near term rather than staging an immediate breakout or breakdown.
Ethereum and Major Altcoins Today
Ethereum is trading near 2,020-2,030 USD, consolidating after failing to sustain a move above 2,200 USD earlier in the week. Spot data show ETH slipping modestly over the past 24 hours, but the second‑largest cryptocurrency has outperformed Bitcoin on some recent sessions as traders position for potential inflows into ETH‑linked products and renewed activity in DeFi and L2 ecosystems.
Analysts caution that Ethereum needs a decisive close above the 2,200 USD area to confirm a fresh bullish leg; until then, the base case is continued range‑bound trading around 2,000 USD.
Beyond BTC and ETH, majors are mixed: alternative Layer‑1 and DeFi names have posted selective gains, with Cardano (ADA), BNB and newer momentum plays like HYPE showing modest strength, while others lag, leaving overall market tone cautiously optimistic as volatility cools from early‑month extremes.
Source: https://coinpaper.com/14987/bitcoin-price-today-holds-67-k-after-252-m-long-liquidation-wipeout
