Bitcoin is trading around $70,500 on February 15, 2026 , modestly higher over the past 24 hours after reclaiming the key 70k level following a deep early‑February slide toward 60k. The recovery has pushed Bitcoin’s market capitalization back above roughly $1.4 trillion, with daily spot and derivatives volume hovering near $43 billion as volatility stays elevated. Price action and liquidations The latest move caps a volatile two‑week stretch in which Bitcoin broke below the 70k psychological support, slid into the mid‑60k area, and briefly traded near 60k before dip buyers stepped in. Market analysts at research firm K33 described the drop toward 60k as a potential “local bottom,” citing capitulation‑style signals in volume, funding rates, options positioning and ETF flows. Across the broader crypto market, derivatives data from Coinglass-linked reports show around $189 million in futures positions were liquidated over a recent 24‑hour window, with shorts accounting for the bulk of the wipe‑out as prices rebounded. This kind of forced deleveraging has helped reset excessive leverage built up during the prior rally, giving spot buyers cleaner entry levels. For now, intraday traders are watching the 68k–70k band as an immediate pivot zone, where failed breakouts could quickly invite another wave of profit‑taking and stop runs. ETF flows and positioning into mid‑February On the flows side, U.S. spot Bitcoin ETFs have flipped back to net inflows, with products recording about $15.1 million of net new capital on February 14 after several days of outflows. Fidelity’s FBTC led with roughly $12 million of inflows, while VanEck’s HODL and WisdomTree’s BTCW added about $1.9 million and $3.6 million respectively, partially offsetting a $9.4 million outflow from BlackRock’s IBIT. The return of positive ETF flows, together with whale accumulation highlighted in recent market commentary, supports the view that institutional and large‑holder demand is re‑engaging as prices stabilize back above 70k. Strategists note that if daily ETF flows can consistently stay positive and move back into the nine‑figure range, it would significantly strengthen the case for a retest of the 75k–80k zone later in Q1, while a relapse into outflows could leave BTC vulnerable to another sweep of liquidity toward the mid‑60k region. Sentiment, whales and key levels to watch Beyond flows and derivatives, on‑chain data watchers point to renewed whale accumulation as a subtle but important signal that larger players are willing to add exposure on dips rather than aggressively distributing into strength. Over the past couple of weeks, wallets holding more than 1,000 BTC reportedly accumulated around 53,000 BTC, roughly $3.7-3.8 billion at current prices during the sell‑off, marking the largest whale buying wave since November. At the same time, total futures open interest has dropped to about $34 billion, down roughly 28% from a month ago and more than 45% below the October peak in notional leverage, after an estimated $5.2 billion in forced liquidations over the last two weeks. Sentiment remains fragile: Bitcoin’s fear and greed gauges briefly slid into “Extreme Fear” in early February, with recent readings hovering in the low‑to‑mid teens, levels that historically have coincided with local bottoms and later relief rallies. Structurally, traders now eye the $60,000-$61,000 band as major cycle support (overlapping the 200‑week moving average and realized price zones), while $65,000-$66,000 acts as initial downside support on any pullback. On the upside, derivatives desks and prediction markets highlight $75,000 as the next major target if spot can secure a convincing daily close above $72,000, with some bank research still keeping longer‑term projections as high as $150,000 for year‑end 2026.
