According to Bitfinex Analysts, Bitcoin Has Found Its Bottom! Here Are the Support and Resistance Levels to Watch!

Bitcoin ($BTC), which has faced sharp declines for months, recently fell as low as $60,000. After recovering somewhat, $BTC is currently trading sideways between $65,000 and $70,000.

While there is no consensus in the market regarding Bitcoin’s future direction, Bitfinex analysts have stated that Bitcoin has formed a base around $60,000 and entered a stabilization phase.

Bitfinex analysts stated in their weekly report, “Bitcoin is attempting to stabilize after the February 5th drop that brought the price to a local low of $60,100.”

With Bitcoin beginning to establish a base around $60,000, it is noted that the macroeconomic environment is becoming more supportive for risky assets like $BTC due to falling US inflation and increasing expectations of interest rate cuts.

“The weaker-than-expected US CPI figures strengthened the trend of slowing inflation. Falling US Treasury yields and a weakening dollar have increased expectations that there could be three interest rate cuts in 2026.”

As a result, these changes help ease the burden on risky assets like Bitcoin.”

Analysts also noted that derivatives market indicators pointed to a stabilization trend rather than excessive leverage accumulation.

Bitfinex analysts added in the report, “Funding rates have now entered a normalization phase. Investors are reducing hedging measures against sharp downside risks while also avoiding aggressively expanding their positions.”

Finally, it was noted that on-chain indicators also give positive signals in the medium and long term. Regarding this, it was stated: “Approximately 18,400 Bitcoin were withdrawn from exchanges last week, and the downward trend in exchange reserves continues. Furthermore, the long-term investor supply has increased since its low point in December last year, reaching approximately 14.3 million $BTC. Historically, an increase in the long-term investor supply has served as an indicator leading to price recoveries after a few months.”

However, Bitfinex noted that outflows from spot Bitcoin ETFs continued to be a downward factor, stating, “Although there were temporary net inflows following the release of inflation data, these were not permanent.”

Analysts also added that Bitcoin’s support level is around $55,000, while its resistance level is around $78,200.

*This is not investment advice.