Bitcoin's current trend is highly indicative. On November 22, 2025, the price dipped near 80,000, then spent seventy days in a sustained downward correction with oscillations, with the high point fixed around 98,000. On February 5, 2026, the market retreated to 60,000, entering another range-bound oscillation, which has now lasted for seventy-six days.

Currently, the market funding rate has been persistently negative for a long time, and market sentiment is highly unified, with most traders expecting a deep decline if the range breaks.
Looking at the chart, even if 60,000 becomes the low point of this phase, the market is unlikely to rise directly. Markets often have a tendency to shake out traders, with the possibility of a dip to sweep out long positions' stop-losses near 60,000.
At this stage, whether 60,000 can solidify the bottom of the bear market remains highly uncertain; only when institutional funds form a consensus to accumulate coins can there be a chance to stabilize. With more than two years until the 2028 halving, the market cycle still has ample room.
The core of the short-term trend depends on the resilience of short-selling positions and the willingness to continue paying funding rates. If short positions remain intact and funding rates do not recover, the range-bound oscillation is likely to continue. Meanwhile, trading volume and MACD indicators are quietly changing; this prolonged range oscillation may be approaching a phase of conclusion.
#比特币反弹 $BTC $ETH