Bitcoin Corrected Again in February 2026, What Happened?

Bitcoin is back in the spotlight after experiencing a sharp price correction and briefly dropping below $62,000.

This situation has triggered caution among crypto market players, especially short-term traders who are starting to anticipate the potential for further declines.

Pressure from global markets, risk-off sentiment, and concerns about ETF fund flows also weighed on the market.BTC price movementin the last few days.

Key Points

• Bitcoin failed to hold above the $62,000 support and opened the door to further correction.
• The $60,000 level is a very crucial psychological and technical zone.
• Market sentiment tends to be bearish, although long-term investors are starting to look at accumulation opportunities.

Latest Bitcoin Price Movements

Bitcoin's drop below $62,000 reflects continued strong selling pressure in the market. Previously, BTC had been stable around $63,000 before losing momentum and correcting.

This pattern is not actuallynew things in the Bitcoin cycle, where rapid rallies are often followed by healthy consolidation or correction phases.

However, recent on-chain data indicates that this pressure could continue. Previously dormant wallet activity is starting to increase, which is often interpreted as a signal of profit-taking.

This condition increases supply in the market and increases the opportunity for prices to test lower support levels.

Read Also:Bitcoin (BTC) Price Prediction February 6, 2026

Key Support Levels to Watch

Currently, the $62,000 area is the closest critical support level. At this level, buyers previously stepped in and halted the price decline.

However, if this support fails to be consistently maintained, selling pressure could potentially push Bitcoin down towards the $60,000 area.

The $60,000 level is not only technical but also psychological. Many analysts consider this zone a crucial floor because it coincides with short-term holders' realized price data. If this level is breached, the correction could deepen, although this scenario still depends on overall market conditions.

Read Also:Bitcoin Price Prediction: Chart Signals Show Movement

Technical Analysis: Signals Still Weakening

From a technical perspective, Bitcoin's daily chart shows a fairly clear rejection at the $62,000–$63,000 resistance area.

Relative Strength Index (RSI) indicatorand the MACD is starting to move towards the oversold zone, indicating that selling pressure is quite high.

While oversold conditions often trigger short-term price rebounds, current momentum still favors sellers. As long as BTC is unable to recover and sustain above key resistance, the potential for a rebound is likely limited and short-term.

Market Sentiment: Bearish but Full of Opportunities

Current crypto market sentiment is bearish, influenced by macroeconomic factors such as global monetary policy, economic uncertainty, and concerns about Bitcoin ETF fund flows. Short-term traders are opting for a defensive stance while volatility remains high.

On the other hand, long-term investors see this correction as an opportunity. The strategy of accumulating during price dips (buying on dips) is starting to come back into the spotlight, especially as Bitcoin approaches the $60,000 area. History shows that correction phases often serve as pivotal moments before the next major move.

Read Also:4 Bitcoin Price Correction Signals You Should Pay Attention To

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Conclusion

Bitcoin's price correction below $62,000 marks a new phase of caution in the crypto market. With selling pressure still present, the $60,000 level is a crucial area that will determine the direction of future movements.

Although short-term sentiment tends to be bearish, opportunities remain open for long-term investors who are able to manage risk well.

As always, understanding technical analysis, market sentiment, and risk management is key to navigating the dynamics of Bitcoin.

FAQ

What is the main reason Bitcoin dropped below $62,000?

Market selling pressure, global risk-off sentiment, and profit-taking were the main factors driving Bitcoin's price decline.

Is the $60,000 level really that important for Bitcoin?

Yes, the $60,000 level is a strong psychological and technical support and is often used as a reference by analysts.

Is this the right time to buy Bitcoin?

It depends on each individual's strategy. Long-term investors often view corrections as opportunities, while short-term traders need to be wary of volatility.

How do technical indicators view the current state of Bitcoin?

The RSI and MACD indicate conditions approaching oversold, but short-term momentum remains bearish.

Does Bitcoin still have the potential to rise after the correction?

Potential remains, especially if strong support holds and market sentiment improves in the medium to long term.