In a current evaluation on X, Bitfinex famous that $BTC simply noticed its largest quick liquidation spike since September 2024.
On Feb. 13, 10,700 $BTC in shorts had been worn out as the worth bounced on higher macro knowledge. On this explicit day, Bitcoin sharply rose from a low of $65,799 to $69,434, reversing a four-day drop. This motion caught bearish merchants unawares, presumably creating a brief squeeze, which pushed the Bitcoin worth larger.
$BTC simply noticed its largest quick liquidation spike since Sept 2024.
On 13 Feb 10,700 $BTC in shorts had been wiped as worth bounced on higher macro knowledge.
If spot demand follows, this squeeze may very well be the primary signal the draw back pattern is working out of steam. pic.twitter.com/cEWL18blnU
— Bitfinex (@bitfinex) February 16, 2026
Bitcoin’s worth recovered above $70,000 over the weekend, pushed by cooler-than-expected U.S. inflation knowledge and elevated threat urge for food. Bitcoin reached a excessive of $70,941 on Feb. 15, recovering from a pointy drop close to $60,000 earlier within the month.
Nevertheless, these good points have been barely reversed, with Bitcoin down 1.91% within the final 24 hours to $69,333. Bitcoin is on monitor to reverse weekly good points, up simply 0.6% within the final seven days, in keeping with CoinMarketCap knowledge.
This comes because the crypto markets fell Monday, with Bitcoin buying and selling in crimson earlier than a packed week of financial knowledge. Within the final 24 hours, liquidations throughout the market have reached $280 million, in keeping with CoinGlass knowledge.
Merchants are making ready for a busy week of macroeconomic occasions, together with Fed minutes and the core PCE inflation report.
The minutes of the January Fed assembly are anticipated, in addition to the discharge of the Fed’s most popular inflation gauge, the core private consumption expenditures worth index (PCE), for contemporary positioning indicators.
What’s subsequent?
Bitcoin posted its fourth consecutive weekly loss, with the cryptocurrency struggling to search out clear route as a weekend rally fizzled. The Bitcoin worth ended Sunday down 2.12% for the week, erasing its weekend bounce.
Bitcoin has dropped greater than 40% from its all-time excessive close to $127,000 in October, struggling to latch onto rallies in gold or equities. The broader crypto market has misplaced nearly $2 trillion in worth over the identical interval.
Nonetheless, some analysts say the technical image leaves room for a rebound as there stays scope for a restoration towards preliminary resistance at $73,000 to $75,000.
Bitfinex famous that if spot demand follows, the current quick squeeze seen on Bitcoin may very well be the primary signal the draw back pattern is working out of steam.
