Bitcoin Risks Longest Losing Streak Since 2018 as Downtrend Deepens

first published 2026-02-16T05:04:07Z

Bitcoin’s daily RSI formed a bullish divergence and MACD produced a bullish crossover after price rebounded from near $65,000. BTC ran into resistance around $71,000; a decisive break above $71K could target $75K, while a drop below $65K could retest roughly $60K. Macro events this week (Fed Governor Michael Barr speech, January FOMC minutes, U.S. Q4 GDP and core PCE) are seen as potential catalysts. Market liquidations were heavy in the last 24 hours — nearly $300M across crypto and over $75M in Bitcoin positions.

AI Analysis

Technical indicators in the article point mildly bullish: daily RSI bullish divergence and a MACD bullish crossover after a rebound from near $65K. Price faces resistance at $71K with a stated upside target of $75K on a break and a downside retest of ~$60K if it falls below $65K. Short-term risk is elevated by heavy liquidations (~$300M across crypto, >$75M in BTC) and imminent macro catalysts (Barr speech, FOMC minutes, Q4 GDP and core PCE) that could change the trend.

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