Overview
- Bitcoin climbed back to roughly $69,000 on Feb. 25 before easing to the high-$60,000s on Feb. 26, keeping price locked in the February range near $60,000–$69,000.
- The rebound was powered in part by forced short covering totaling hundreds of millions of dollars and a $257.7 million net inflow to U.S. spot bitcoin ETFs on Feb. 24, with estimates pointing to roughly $750 million over two days.
- Glassnode says the market is stabilizing rather than recovering, noting persistently negative year-to-date ETF flow trends and ongoing sell-side pressure in spot and on-chain metrics.
- Analysts say reclaiming $70,000–$72,000 is needed to argue for improvement, while $62,000–$63,000 and $60,000 are key supports that could open deeper declines if broken.
- Traders are watching a large Friday options expiry and U.S. labor data, with crypto price action tracking broader risk sentiment following Nvidia’s earnings.