Weekly forecast: Bitcoin could test $72K resistance

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Bitcoin weekly forecast

Highlights

Bitcoin trades near $68,484 after a 23% monthly drop, with bearish momentum driven by liquidations and risk-off pressure.
Next week BTC may range $65K–$72K, with $60K as critical support and resistance heavy above $72K.
Macro uncertainty, ETF flows and fragile sentiment remain key drivers as volatility stays extremely elevated.

Selling pressure intensified sharply in early February, with the price briefly dipping close to the $60,000 zone before attempting a rebound. Buyers have stepped in around the current level, but the recovery remains fragile and uneven. Volume appears elevated during the decline, suggesting forced liquidations and risk-off positioning rather than orderly profit-taking. The market structure is now decisively bearish in the short term, with momentum still weak. Overall sentiment has shifted defensive as Bitcoin searches for a stable base.

Next week forecast: volatile stabilization possible, but downside risks remain

In the coming week, Bitcoin may trade within a $65,000–$72,000 range as the market attempts to stabilize after the sharp sell-off. A rebound toward $75,000 is possible if dip-buying strengthens and broader risk sentiment improves. However, resistance remains heavy above $72K, and BTC will need sustained volume to confirm any recovery trend. If selling pressure resumes, Bitcoin could retest $62,000–$60,000, which now represents a critical psychological support zone.

A breakdown below $60K would likely trigger renewed panic and open the door to deeper downside levels. Volatility is expected to stay extremely high, with sharp intraday swings driven by leverage unwinding. For now, the outlook remains cautious, with stabilization more likely than a strong bullish reversal.

Key drivers: macro uncertainty, ETF flows and risk sentiment across markets

Bitcoin’s next move will depend heavily on broader macro conditions, particularly interest-rate expectations and global liquidity trends. Risk assets have been under pressure recently, and Bitcoin has continued to trade in line with equity-market sentiment rather than acting as a safe haven. ETF flows will also be critical, as sustained institutional inflows could help support price near current levels, while outflows may accelerate weakness.

Traders will also be watching regulatory headlines and policy signals, especially in the U.S., which can quickly shift confidence. Market positioning remains fragile after recent liquidations, meaning even small catalysts could produce outsized moves. On-chain fundamentals remain stable, but short-term price action is being dominated by sentiment and leverage. Until volatility cools and BTC reclaims higher resistance levels, the market is likely to remain in a defensive phase.

Recently we wrote that Google search volume for the term “Bitcoin” surged over the past week as the cryptocurrency briefly dropped to the $60,000 level for the first time since October 2024.

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