Analysis: Bitcoin is attempting to initiate a counter-trend rebound, indicating a potential shift in market momentum. Investors should watch for confirmation signals and consider the current support levels to assess whether the upward movement can be sustained. The recent price action suggests a possible reversal from the recent lows, but caution is advised as the overall trend remains uncertain. Keep an eye on key technical indicators and news developments that could influence the market direction.

BTC-0,2%

PANews February 9 News, Matrixport published an analysis stating that after a capitulation sell-off, Bitcoin is attempting a countertrend rebound. This round of decline has washed out weak positions and triggered passive selling pressure and chain reactions of forced liquidations in the derivatives market. In the short term, technical indicators still suggest room for upward movement; however, whether the rebound can go further depends on whether new funds enter the market, rather than solely relying on short covering and mechanistic hedging funds to sustain it. As previously mentioned, Bitcoin remains in a larger bear market reset phase. During this stage, rapid rallies are not uncommon, but they are often difficult to sustain. On-chain data continues to confirm that the current environment remains fragile: demand momentum is weakening, and structural accumulation is limited. Meanwhile, options hedging activity is increasing, further amplifying volatility. If spot demand remains weak, prices are more likely to gap down, and the impact of derivatives on Bitcoin prices will also increase.

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