Latest Bitcoin (BTC) Price Analysis

Deep Dive

1. Macro Catalyst: Cooling Inflation Data

The U.S. Consumer Price Index (CPI) for January showed inflation cooling to 2.4% year-over-year, hitting a four-year low (Coingape). This data, released on 13 February 2026, eased fears of a "higher-for-longer" interest rate environment from the Federal Reserve, triggering a broad risk-on rally across crypto.

What it means: Bitcoin acted as a macro risk asset, rising on improved liquidity expectations.

Watch for: The next key U.S. economic data points and Fed speaker commentary for confirmation of a policy pivot.

2. Derivatives-Driven Amplification

The rally was exacerbated by a cascade of short liquidations. Over 24 hours, $114.29M in BTC positions were liquidated, with shorts comprising $105.67M of that total. This forced buying helped accelerate the upward price move.

What it means: Leveraged positioning created fuel for a squeeze, adding volatility to the macro-driven move.

Watch for: Shifts in the aggregate funding rate, which is currently slightly negative at -0.00012711%, indicating lingering bearish bias.

3. Near-term Market Outlook

Bitcoin's price is now testing the upper bound of a key on-chain support zone between $60,000 and $72,000, as identified by Glassnode. The immediate technical structure is bullish, with the price above its 7-day and 30-day moving averages and the RSI at 64.95.

What it means: The path of least resistance is upward, provided macro sentiment holds.

Watch for: A daily close above $69,383 (recent swing high) to confirm bullish continuation, or a break below $65,000 to invalidate the recovery.

Conclusion

Market Outlook: Cautiously Bullish Bitcoin's gain is a relief rally rooted in improving inflation data, amplified by leveraged market mechanics. The trend hinges on sustained macro optimism.

Key watch: Whether Bitcoin can reclaim and hold the $70,000 psychological level, which would signal a potential end to the recent corrective phase.