GT 24H Up 3.08%, current price 7.03 USDT

Bitcoin weekly RSI approaches the lows of the 2022 bear market, liquidity squeeze intensifies the bulls and bears battle

On February 17th, Bitcoin's price briefly surged to $70,000 before quickly pulling back. Due to light trading during the holiday, short-term movements were influenced by large capital flows, resulting in liquidations totaling $120 million. Technical analysis shows that Bitcoin's weekly RSI dropped to 27.8, the lowest since 2022, indicating the market may be facing a cyclical bottom signal.

Bitcoin hits the longest consecutive decline since the 2018 bear market, with a drop approaching historical extremes.

Bitcoin has already fallen 13.98% in February. If it closes lower, it will mark the longest consecutive decline since 2018, with a total drop of 52.44%. The overall cryptocurrency market capitalization is $2.33 trillion, and the Fear and Greed Index is in the extreme fear zone. Technically, Bitcoin needs to return to $100,000 to reverse the downtrend, and the current market remains in a bearish phase.

Traditional Finance Downtrend Alert: XAGUSD Drops Over 2%

Gate News bot message: According to the latest Gate TradFi data, XAGUSD has dropped 2% in the short term, with current volatility significantly higher than the recent average level, and market activity has increased.

BTC Breaks Through 69,000 USDT

Gate News bot message, Gate market display, BTC breaks through 69,000 USDT, current price 69,026.1 USDT.

SPACE increased by 50.80% after launching Alpha, current price 0.01146912541655347 USDT

Gate News bot message, Gate market display, since launching Alpha, SPACE has increased by 50.80%, now priced at 0.01146912541655347 USDT.

Metaplanet reports a net loss of 95 trillion yen (approximately (619 million USD) due to revaluation of Bitcoin.

Metaplanet, a Tokyo-based company holding Bitcoin, reported a net loss of 95 billion yen for the fiscal year ending December 31, reversing a profit from the previous year. This loss mainly resulted from a reevaluation of its Bitcoin portfolio. Despite a significant drop in Bitcoin prices, the company's balance sheet remains strong, with a high equity ratio and sufficient assets to cover liabilities. The firm reported substantial revenue growth and exceeded its Bitcoin holding targets, aiming for future expansion despite market volatility.