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- Steve Muchoki
Steve Muchoki
- Feb 10, 2026 18:44 UTC
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Bitcoin Price Rebounds Above $69k: Here are Two Reasons Why BTC May Rally to $85k Before $58k
The Bitcoin price has been trapped in a range-bound choppy consolidation in the past four days.
Onchain data shows Bitcoin whales are buying again after a period of selloff.
Wall Street analysts believe that the Bitcoin price is already in a macro bear market akin to 2022.
Bitcoin (BTC) price has rebounded towards $70,000 on Tuesday, February 10, during the North American session. The flagship coin rebounded from a demand zone around $68.5k in the past two days, thus aiming to retest its supply zone around $71,250.
Nonetheless, Bitcoin price has suffered a significant decline in its Open Interest (OI), thus fueling the bearish sentiment. According to market data from CoinGlass, BTC’s OI has dropped from above $90 billion in October 2025 to hover about $45.7 billion at press time.
Two Main Reasons Why Bitcoin Price May Retest $85k
Renewed interest from whales
According to onchain data analysis, Bitcoin whales with an account balance of above 1000 BTC have been accumulating year-to-date. Moreover, Bitcoin addresses with an account balance of 1000 have surged by 50 in the past few weeks.
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With onchain data showing the retail traders still reluctant to buy BTCs at current levels, amid extreme fear of further capitulation, the odds of a Bitcoin price rebound remain palpable.
BTC Price Aims to Fill Unfilled CME Gap
The main reason why Bitcoin price may rebound to $85k is due to its unfilled gap above $79k and below $85k. Historically, any gap in the Bitcoin CME Futures formed has been filled.
With the BTC price forming a potential bull flag after a notable selloff to around $60k, the flagship coin is likely to rally towards $85k soon.
What’s the Bigger Picture?
Although BTC price may rebound towards $85k soon, the intense fear of further capitulation is palpable. Furthermore, more crypto traders are predicting a similar Bitcoin capitulation in the coming weeks to the 2022 bear market.
Source:Â X
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