Journalist
Posted:
On February 22, Bitcoin [BTC] fell 5.08% from $67,730 to $64,290. This kind of volatility towards the end of Sunday has been a recurring theme in recent weeks.
Still, it surprised many traders. According to CoinGlass, $206 million worth of long BTC positions were liquidated in the last 24 hours, while only $4.8 million worth of short positions were liquidated.
These numbers were tame compared to what was recorded on February 6. Bitcoin is likely to head towards $60,000 again. At the time of writing, BTC has risen above $65,000 again.
Speaking to AMBCrypto, Stephen Coltman, Head of Macro at 21shares, emphasized the importance of the $65k floor.
“Bitcoin has traded within a narrow range between 65k and 70k over the past two weeks, and bulls will want to see 65k hold as a bottom. Conversely, a sustained move above 70k would indicate that the recent selling may have exhausted itself.”
Bitcoin bulls are battling seller dominance
A crypto analyst warned of a volatile Monday to start the week off right. A 15% global tariff and an escalation of the US-Iran conflict were cited as some of the reasons why bearish uncertainty prevailed.
The analyst expected the $60,000 weekly window left earlier this month to likely be filled in the next two to three weeks.
This expectation has recently been reinforced by the dominance of the seller. The exchange mains current Most of the past month has been positive.
Moreover, the Coinbase Premium Index was negative for all of 2026, except for two days.
The metric measures the price difference between the BTC/USD pair on Coinbase and the BTC/USDT pair on Binance. It therefore reflected continued selling pressure from US investors.
Moreover, the whale influx ratio remained high. It measures the BTC inflow from the 10 largest transactions to the total inflow. This way, whale transactions are filtered out and the weekly moving average makes trends more visible.
Therefore, the extremely high inflow ratio of 7DMA whales strengthened the seller’s dominance. Overall, swing traders may maintain a bearish bias. Long-term investors may be left out.
Final summary
- The short-term range between $65,000 and $70,000 could be broken in the next two to three weeks as the chances of tagging the $60,000 target increase.
- High whale inflows and persistently negative Coinbase Premium reflected the distribution trends.