Bitcoin USD Slips 0.97% as Margin Longs Indicate Capitulation Risk
Bitcoin USD has seen a recent decline, trading at $78,648 on February 5, 2026, which marks a decrease of 0.97% over the past 24 hours. This downturn extends the cryptocurrency’s weekly loss to 6.04%, reflecting ongoing selling pressure across digital markets.
Market Analysis
Bitcoin has experienced a significant fall from its yearly high of $126,296. Current market data indicates that margin long positions on Bitfinex have increased to 77,100 BTC, the highest level recorded since December 2023. This rise suggests that large investors are accumulating during this market correction, a move historically associated with price bottoms.
Technical Indicators
The technical landscape presents mixed signals. The Relative Strength Index (RSI) is at 48.91, indicating neither overbought nor oversold conditions. This suggests that the selling pressure has not become extreme. Conversely, the Moving Average Convergence Divergence (MACD) signals a bearish trend.
- RSI: 48.91
- MACD Histogram: 721.64
- Current Price: $78,648
- 50-Day Moving Average: $89,813
- 200-Day Moving Average: $104,526
Support remains at $84,208, while resistance is identified at $93,209. The price is currently positioned below both the 50-day and 200-day moving averages, reinforcing a bearish trend.
Market Sentiment
Despite the downward trend, the trading volume stands at 1.17 billion USD daily, which is 1.88 times the 90-day average, indicating active market engagement. However, notable liquidation activity has ensued, with over $19 billion in crypto liquidations occurring recently. This suggests that many retail traders are exiting the market amid the price decline.
Price Forecast
Forecast estimates indicate a potential recovery. The monthly target is set at $92,791, reflecting an 18% increase from current prices if support remains intact. The quarterly forecast predicts a higher target of $125,516, which corresponds to a 59.6% rally, contingent upon stabilizing macroeconomic conditions.
Key Price Levels to Watch
- Support Levels: $84,208; $75,644
- Resistance Levels: $89,813 (50-Day MA); $93,209 (Bollinger Band Upper)
Conclusion
Bitcoin USD is at a critical point as it navigates through significant market pressures. Margin long positions have reached two-year highs, signifying that large holders may view the current dip as a buying opportunity. However, liquidation trends emphasize risks for traders. The outlook depends on maintaining support levels and the potential for price recovery in the forthcoming weeks.
Investors are urged to monitor the evolving market environment closely and consider the implications of regulatory trends, as these will play a crucial role in shaping Bitcoin’s trajectory moving forward.
