Things never calm down in the Bitcoin world. The recovery that followed the sharp decline below $60,000 as of February 2026 left investors in deep doubt rather than making them happy. The price’s failure to exceed the $70,000 threshold and the significant contraction in transaction volume prove that the momentum in the market has been replaced by a quiet wait. While “extreme fear” continues to dominate among individual investors in the current picture, technical indicators indicate that the largest cryptocurrency is at a very critical crossroads.
Fear and Uncertainty Dominate Market Psychology
Although the Bitcoin price has taken a breather with reaction purchases just above the psychological threshold of $ 60,000, social media data and market sentiment paint a rather pessimistic picture. According to Santiment data, the level of “extreme fear” within the community has not lost its effect despite the recovery move. When historical cycles are examined, it is seen that these periods when investors are most hesitant and bear scenarios are in the air generally indicate short-term bottoms, but the current low volume suggests that this time the situation may be more complicated.
The fact that the bullish voices in the market were replaced by bears’ calls for “caution” seems directly related to the price being repeatedly rejected around $70,000. Investors are losing their buying appetite as they see that Bitcoin cannot turn this level into permanent support. While local peaks have formed in the past when market enthusiasm was replaced by “greed”, the current “disbelief” phase leaves open the question of whether the price is trying to form a bottom or heralds a new decline.
Technical Indicators and Critical Support Levels
Bitcoin’s price chart has been stuck between $67,000 and $68,000 in recent days, signaling weakening momentum. RSI (Relative Strength Index) data flattening and showing negative divergence after leaving the oversold zone reveals that buyers have lost control. In addition, the fact that the CMF indicator, which measures capital flow, remains below the zero line clearly documents that there is no fresh money inflow to the market and the accumulation phase has been interrupted.
The current technical structure has it hanging by a thread above the $59,900 support. If Bitcoin cannot maintain this level, it may become inevitable for the price to fall below $ 60,000 with a much sharper acceleration. On the other hand, for the short-term outlook to turn positive again, permanent day closes above $ 70,000 are required and the volume increases again. Weak participation continues to suppress volatility and trap the market in a narrow band.
