Bitcoin (BTC) reclaimed the $72,000 level as bulls push toward multi-month range highs. While dips are attracting buyers, holding higher levels may prove difficult.
Coin Bureau founder Nic Puckrin told Cointelegraph that for BTC to reach $90,000, geopolitical tensions need to ease—bringing oil toward $80—and economic data must soften to reduce fears that stagflation could hurt the US economy. CoinEx chief analyst Jeff Ko said short-term sentiment “remains fragile and heavily macro-driven, especially by oil, the dollar and inflation expectations,” while expressing more confidence over the medium term given supply-demand fundamentals in oil.
Crypto market breadth shows strength, but macro and geopolitical risks are key. Macro analyst Jordi Visser said a sustainable move could begin if BTC trades above $76,000 and Ether (ETH) above $2,400.
S&P 500 Index
The S&P 500 (SPX) gapped up and closed above the 50-day simple moving average (6,761), suggesting the corrective phase may be over. The 20-day exponential moving average (6,657) is turning up and the RSI is positive, favoring bulls. Pullbacks should find support at the 20-day EMA; staying above it would put the index on track to test the all-time high of 7,002. A break below the 20-day EMA would point to selling on rallies and likely range formation.
US Dollar Index
Sellers are trying to push the US Dollar Index (DXY) below the 50-day SMA (98.67), but bulls have defended that level. Any bounce is likely to meet resistance at the 20-day EMA (99.34). A drop below the 50-day SMA would keep the DXY oscillating between 95.55 and 100.54. A close above the 20-day EMA would signal demand at lower levels and another attempt to break 100.54.
Bitcoin
BTC pulled back to the 20-day EMA ($70,209), showing bears defending the $74,000–$76,000 zone. The bounce off the 20-day EMA indicates buying on dips and raises the likelihood of a retest of $76,000. A close above $76,000 would complete an ascending triangle and open a path toward $84,000. Bears will try to push BTC below the moving averages and the support line; a close under the support line would favor the downside.
Ether
ETH retreated to the 20-day EMA ($2,154), a key short-term support. A strong rebound from the 20-day EMA would improve chances of breaking $2,386 and potentially rallying toward $2,800. A break below the moving averages would signal active selling at higher levels and could result in consolidation between $1,916 and $2,386.
BNB
BNB has struggled to rise above the moving averages, suggesting bears are trying to control price action. Sellers will aim to drive BNB below $570; if successful, the downtrend may resume toward $500. Conversely, a bounce from current levels or $570 support and a move above the moving averages would likely keep BNB range-bound for a while.
XRP
XRP is trapped between $1.27 and the 50-day SMA ($1.37), reflecting a balance of supply and demand. Sellers seek to break $1.27; a breakdown could send XRP to $1.11 and then to the descending channel’s support line. The negative outlook would be invalidated if XRP breaks above the moving averages, which would target the downtrend line as resistance.
Solana
SOL turned down from the 50-day SMA ($85), indicating selling on minor rallies. Sellers will try to push SOL toward $76, where buyers are likely. A rebound from $76 would see another attempt to pierce the 50-day SMA and could keep SOL within the $76–$98 range. A close below $76 would shift control to bears and increase the chance of a drop under $67.
Dogecoin
DOGE is squeezed between the moving averages and $0.09 support, signaling a potential range expansion. A close below $0.09 would show bears in control and could drive DOGE to $0.08 and then $0.06. Bulls need to lift and hold DOGE above the moving averages to spark a relief rally toward $0.11 and potentially $0.12.
Hyperliquid (HYPE)
Buyers failed to push HYPE above the $43.76 overhead resistance, showing bears defending that level. Bulls have not surrendered much ground, which raises the odds of a breakout above $43.76 that could propel HYPE toward $50. If HYPE breaks below the 20-day EMA, the pair may slip to the 50-day SMA (~$35.99).
Cardano
ADA plunged below $0.25, suggesting bears are attempting to seize control. The $0.23 level is critical; a break would open the way to the Feb. 6 low of $0.22 and then to the descending channel support. The first sign of strength would be a break and close above the 50-day SMA ($0.26). Sellers will try to cap any rally at the downtrend line; if bulls prevail, ADA could signal a potential trend change.
Outlook
Cryptocurrencies show renewed strength as buyers step in on dips, but multiple cross-currents could derail rallies. Oil, the dollar, inflation expectations, and geopolitical tensions—particularly involving Iran—remain major drivers. A decisive move above key technical thresholds like $76,000 for BTC and $2,400 for ETH would enhance the odds of a broader advance, while failures at resistance and breaks of key moving averages would increase the risk of consolidation or deeper declines.
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