Bitcoin continues to stay pressured, trading at $97,000 after having declined by 5 percent while bears target the psychological $90,000 support level. Technical indicators included a bearish MACD crossover as well as a falling RSI, indicating further downside risk. U.S. tariffs against China and Beijing’s retaliatory measures, plus a one-year low in Bitcoin network activity, have amplified the uncertainty of the market. Next, on February 18, FTX creditors will be paid, which can cause volatility again. If, however, it recovers above $101,300, this will again fuel the bull. It might bring BTC back up to the next resistance zones.

KEY LOOKOUTS

• Bitcoin’s price fluctuates at $97,000 while facing a technical breakdown after the recent sharp fall with direction to the important $90,000 support level.

• On February 18, FTX’s repayments to its creditors may produce much volatility in bitcoin’s price action over the short term and sentiment of the market.

• Tariffs imposed by the United States and retaliatory measures from China continue impacting the price of BTC along with the broader financial markets and other related risk assets.

• Bitcoin network activity has fallen to its lowest this year, further indicating decreased participation and demand: a potential bane for sustaining price stability throughout the next several weeks.

Its price action struggles to hold $97,000 as bears make a beeline for the coveted $90,000 level in the wake of increased geopolitical uncertainty, which brought new U.S. tariffs amid retaliatory response from China over the weekend. In addition, Bitcoin network activity has hit its lowest level in a year, which may indicate a decline in investor interest and potential overvaluation. Traders should also prepare for increased volatility as FTX begins creditor repayments on February 18, which may impact market liquidity. Given that bearish indicators such as RSI and MACD continue to signal further downside, the near-term outlook for Bitcoin remains fragile.

It now struggles near the $97,000 mark but with bearish momentum pointing at the critical support level of $90,000. Declining network activity along with geopolitical tension adds pressure and FTX repayment on February 18 could potentially bring more volatility. Traders should keep close watch on critical support levels due to technical indicator hints of protracted downside risks.

• Bitcoin at $97,000, showing a 5% decline: Technical indicators say it might plunge to the very crucial support point of $90,000.

• The U.S. tariffs on China, Canada, and Mexico create market volatility as it has sparked large-scale liquidations and uncertainties in the entire crypto space.

• Creditor repayments by FTX starting from February 18 are likely to be a source of significant volatility as they may hit Bitcoin’s liquidity and short-term price action.

• Bitcoin’s network activity is at its lowest level in a year, suggesting reduced investor interest and potential overvaluation at these price levels.

• RSI is moving lower, and a bearish MACD crossover indicates more downside risks for Bitcoin in the short term.

• Optimism was sparked after U.S. President Trump directed the establishment of a sovereign wealth fund, with speculations on possible Bitcoin inclusion.

• Bitcoin failed to retake $101,300, and this has dampened the bullish momentum, so the $90,000 level is now the key level to watch for potential rebounds or further declines.

Bitcoin is under pressure as it trades around $97,000, with almost a 5% decline in the last three days. Its technical indicators-the RSI showing a downward momentum and a bearish MACD crossover-continue to increase the possibility of the BTC testing the psychologically crucial level of $90,000. Geopolitical tensions, with U.S. tariffs on China, Canada, and Mexico, have also brought uncertainty to the market, creating large-scale liquidations across the crypto space. Meanwhile, Bitcoin network activity has plummeted to its lowest level in a year, meaning that investors are less active and the current price may be overvalued.

BITCOIN Daily Price Chart

TradingView Prepared by ELLYANA

Further uncertainty comes in the form of FTX’s creditor repayments on February 18, which could bring volatility to Bitcoin’s price action. As the bankrupt exchange prepares to distribute billions in repayments, market liquidity dynamics may shift, influencing BTC’s short-term trajectory. Despite some positive developments like speculation regarding the possible inclusion of Bitcoin in a new U.S. sovereign wealth fund, sentiment remains bearish. Key support must be monitored, and macroeconomic news, as sellers push the price lower, bringing forth another leg of downside risk potential.

TECHNICAL ANALYSIS

Bitcoin’s technicals point toward increased bearish strength. Bitcoin is currently capped below $97,000, which is eyeing a drop toward the paramount level of support at $90,000. Currently, the Relative Strength Index (RSI) stands at 44 and is trending lower, showing a weakening buying pressure. Concurrently, the Moving Average Convergence Divergence (MACD) has formed a bearish crossover, which may spur further selling. Bitcoin also lingers beneath key moving averages, thereby strengthening the bearish outlook. At this rate, if selling continues, BTC may probably fall to $90,000 psychological support as that level may be broken down further. But a solid rebound above $101,300 can be a sign of back-to-back bullish momentum.

FORECAST

Bitcoin is looking weak, but with the pressure on trying to stay above $97,000. Bears are targeting that critical support at $90,000 as technical indicators reveal growing selling pressure- a downtrending RSI and a bearish MACD crossover. Declining network activity and macroeconomic uncertainties such as US tariffs and China’s retaliatory measures have also dampened investor sentiment. If Bitcoin cannot stay above its current support, a breakdown below $90,000 will be seen to initiate more liquidations that would take the price to the range of $85,000-$88,000.

Bitcoin has bounced off several times during the past corrections, and the trend could easily reverse if key support is held. A move above $101,300 could once again propel buyers into the market. Fresh demand could be fueled by speculation that Bitcoin may also find its place in the newly proposed U.S. sovereign wealth fund. If macroeconomic conditions continue to improve and institutional demand increases, BTC could bounce back to as high as $105,000 and push towards a retest of its all-time high in the near term. Sustained recovery will, however, depend on broader market sentiment and a break above key resistance levels.