Bu makaleyi paylaş
Bitcoin Looks to Test $12K After Overnight Sell-Off
Bitcoin bulls remain in control, despite a sell-off overnight, and thus look set to test the long-term inflection point over $12,000.
Yazan Omkar Godbole
Make us preferred on Google
Bitcoin has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate.
The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk's Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 - down 1.5 percent for the last 24 hours.
STORY CONTINUES BELOW
Başka bir hikayeyi kaçırmayın.Bugün Crypto Daybook Americas Bültenine abone olun. Tüm bültenleri gör
On Coinbase's GDAX exchange, BTC was last seen changing hands around $11,079, which is the 38.2 percent Fibonacci retracement of the 1,125-point drop that lasted from late American session to late Asian session.
Furthermore, the cryptocurrency is up at least 85 percent from lows seen on Feb. 6. Still, many in the investor community believes BTC is still in a bear market and the sharp rise from the lows below $6,000 is only a "corrective rally" inside the bigger downtrend.
The view has merit, given the cryptocurrency is still trading well below the descending trendline drawn from the Dec. 17 high and Jan. 6 high. However, short-term momentum studies favor upside in BTC prices.
Daily chart
The previous day's candle with its long upper shadow (big gap between the intraday high and UTC close) signaled bullish exhaustion. However, the swift recovery from the low of $10,650 has kept the bulls in the game.
That said, the weekly chart is not so bullish for BTC.
Weekly chart
View
- The cryptocurrency remains on track to test the long-term inflection point of $12,300 (trendline resistance).
- Bullish Scenario: A daily close (as per UTC) above $12,300 would signal the bear market has ended and add credence to the bullish doji reversal. In such a scenario, BTC could revisit $17,178 (Jan. 5 high) and could possibly break higher towards the record highs around $20,000.
- A close (as per UTC) below the upward sloping 10-day MA would signal short-term consolidation.
- Bearish scenario: A break below $10,297.39 (current weekly low) would add credence to the bearish weekly chart factors and could yield a drop to $9,017.41 (Jan. 17 low). The sell-off would be more intense if the break below $10,297.39 happens after a rejection at the inflection point of $12,300.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase
Umbrella image via Shutterstock
Sizin için daha fazlası
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
Tarafından sipariş edildiKuCoin
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Bilinmesi gerekenler:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Cathie Wood’s ARK Invest files for two crypto index ETFs tied to CoinDesk 20
One proposed fund will attempt to exactly mimic the CoinDesk 20, but the other would track the index, excluding bitcoin.
What to know:
- ARK Invest has filed with U.S. regulators to launch two cryptocurrency ETFs tracking the CoinDesk 20 index.
- One proposed fund would track the CoinDesk 20, which provides exposure to major tokens, including bitcoin, ether, solana, XRP, and cardano. The other would track the same index, but exclude bitcoin, by pairing long index futures with short bitcoin futures.
- The funds, which would list on NYSE Arca if approved, aim to offer diversified crypto exposure without direct token custody and follow similar, still-unapproved crypto index ETF proposals from WisdomTree and ProShares.
Top Stories
