Bitcoin rises to $69.000: The 3 reasons why major investors didn't let the price fall

The price of Bitcoin has stabilized this week at $69.000 after a 13% correction that took it to levels close to $60.000.

The recovery in the price of the most capitalized cryptocurrency in the market occurs in a context of stabilization, where its value has found solid support after experiencing a week of high volatility. 

According to the latest report from on-chain analytics firm Glassnode, market momentum has improved from previous oversold levels. Analysts CryptoVizArt y Chris Beamish They indicated that the Relative Strength Index (RSI) The 14-day price rebounded from its lower statistical band, indicating a significant easing of selling pressure and a gradual return of demand. Although capital flows remain cautious, experts note that the cryptocurrency designed by Satoshi Nakamoto has managed to neutralize the short-term downward trend.

Signs of calm after the crypto market storm

The on-chain indicators analyzed by Glassnode show that network activity is transitioning from a state of stress toward stabilization. Although global capital flows have recently turned negative, the volume of transfers continues to exceed normal levels, a sign of active asset circulation within the ecosystem.

Experts point out that unrealized losses currently dominate the circulating supply, a condition that usually coincides with the advanced stages of market corrections.

This reduction in selling pressure on Bitcoin is also reflected in cryptocurrency-linked ETFs, where capital outflows are moderating. Even though large investors remain cautious, trading in these funds shows a significant rebound. 

Glassnode analysts emphasize The recovery of the cryptocurrency's price to $69.000 has been made possible by the halt in aggressive selling in the spot market, a key step while sustained demand continues to build in the background.

Bitcoin streamlines leverage and seeks stability

Beyond the on-chain indicators analyzed by Glassnode, experts are trying to explain that the recent correction in the crypto market had a key technical component. For many, a deleveraging wave It forced the most exposed operators to reduce their risk in the futures markets. 

Matthew SigelVanEck, head of digital asset research, noted that open interest in Bitcoin futures contracts fell from $61.000 billion to $49.000 billion in just one week. This roughly 20% decrease reflected a necessary adjustment, more related to the clearing of over-leveraged positions than to a structural deterioration of the asset.

El report VanEck's report indicates that the market experienced between $3.000 billion and $4.000 billion in total liquidations. Of that amount, approximately $2.500 billion was concentrated exclusively in Bitcoin futures. This deleveraging occurred in an orderly fashion, avoiding a massive capitulation event, which allowed the underlying market structure to remain intact as prices sought a new equilibrium point in the $60.000 range.

A point of equilibrium after the most precipitous fall of the year

On February 5th, Bitcoin experienced a sharp drop, placing it among the steepest declines in its recent history. Although the movement was statistically extraordinary, the market reacted with such speed that it ended weakening selling pressure in less time than expected.

Several analysts agree that the impact of the crash was not due to a structural failure of the ecosystem, but rather to an accelerated correction amidst an environment still dominated by geopolitical uncertainty. This circumstance is what has allowed the price of Bitcoin to currently find support near $69.000, a level that reflects both the exhaustion of the bearish momentum and the starting point for a new equilibrium between supply and demand.

The current scenario suggests that the market reaction was more corrective than structural. Therefore, with technical fundamentals reaffirming their role against speculative noise, Bitcoin is once again showing signs of natural resistance within its long-term cycle, opening the door to a consolidation phase that could serve as the basis for a sustained rebound in the coming weeks. In fact, analysts at Bernstein and JPMorgan remain optimistic about a significant recovery in Bitcoin's price, which could lead it to reach new all-time highs by the end of the year.