Bitcoin Shakes Out Retail Investors, Prepares for Rally… Analyst Says It Could Reach $260,000

▲ Bitcoin (BTC) / ChatGPT-generated image

Bitcoin (BTC) is confirming a key support level alongside signs of weakening downward pressure, signaling the beginning of a massive reversal toward $260,000.

According to crypto media outlet The Crypto Basic on February 16 (local time), Bitcoin is currently trading around $68,385 and continues to firmly defend its crucial support zone despite recent volatility. Although it has declined about 2.7% over the past 24 hours, retreating from its recent high of $70,897, technical indicators suggest that the downtrend is gradually losing momentum and approaching a bottom.

On the daily chart, the Relative Strength Index (RSI) stands at 35.54, nearing the oversold threshold of 30. This is interpreted as a signal that Bitcoin may have formed a short-term bottom or is about to enter a strong consolidation phase. In addition, the shrinking histogram bars of the Moving Average Convergence Divergence (MACD) indicator support the view that recent bearish momentum is fading.

Market attention is focused on analysts’ bold long-term target of $260,000. Prominent analyst Whale Factor diagnosed the current situation—where Bitcoin has undergone a correction of more than 44% since reaching its $126,000 peak in October 2025—as the calm before a historical bull cycle storm. He predicted that if Bitcoin undergoes a further correction to around $37,000 to fully reset the RSI before launching a full-fledged bull market, it could ultimately surge to $260,000, marking an explosive rally of more than 280%.

In the short term, whether the $68,000 support level holds will serve as a critical turning point in determining future direction. If this support breaks, there remains a risk of further declines toward $65,000 or even $60,000. However, if Bitcoin breaks through the psychological resistance levels of $70,000 and $72,000 with strong trading volume, the door to a sustained upward rally could open. Analysis suggests that the current pullback is an inevitable process of shaking out excess positions ahead of a historic bull run.

Ultimately, Bitcoin stands at the intersection of short-term fear and long-term optimism, with indicators of weakening downside pressure hinting at an imminent rebound. Investors are advised to focus less on short-term price fluctuations and instead keep a close eye on the massive $260,000 target suggested by historical patterns. Global capital markets are on edge as they watch whether the current correction will become a final life-changing opportunity or the beginning of a deeper downturn.

Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on it. The content should be interpreted for informational purposes only.