Price Analysis View Non-AMP

Bitcoin Price Rebounds Above $69k: Here are Two Reasons Why BTC May Rally to $85k Before $58k

Published by
Steve Muchoki

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.

Source: X

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: X

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

FED Rate Cuts May Be Delayed Amid Israel and Iran War, Says Janet Yellen

The escalating US-Israel-Iran conflict is now spilling into monetary policy expectations. Former Treasury Secretary Janet…

March 3, 2026

Bitcoin ETFs See $458M Inflows, No Outflows

On March 2, U.S. spot Bitcoin ETFs attracted strong investor demand, recording $458 million in…

March 3, 2026

Iran Crypto Market Sees 80% Volume Drop After U.S.-Israeli Strikes

Iran’s cryptocurrency market saw a sharp shock after recent U.S.-Israeli airstrikes, which targeted Tehran, killing…

March 3, 2026

Why Is the Crypto Market Going up Today [Live] Updates on March 3, 2026

March 3, 2026 07:08:27 UTC Crypto Market Today: Bitcoin, Ethereum, and XRP Price Surge Bitcoin…

March 3, 2026

OM Rebrands to MANTRA Following v7 Upgrade

MANTRA Chain has successfully completed its transition from $OM to $MANTRA with the rollout of…

March 3, 2026

Hyperliquid Oil Perps Hit Record High

Open interest in Hyperliquid’s CL USDC oil perpetual contract climbed above $50M in late February…

March 3, 2026