BTC at 70K — Reversal or Short-Term Rebound?

Bitcoin approached 70k again on February 26, 2026, after a rough correction that took it down to the low 60k range earlier in the week. The move was sharp—gains of 6-10% in a single day at points, marking one of the strongest sessions recently. From roughly 64k lows, the rally was fueled by short liquidations, steady inflows, and spillover optimism from strong earnings reports in tech and stablecoin issuers.
Is this the start of a true reversal, or just a temporary bounce in an ongoing correction? The broader context shows Bitcoin had been in a painful drawdown from its 2025 highs above 126k, losing nearly half its value and dragging the total market cap down significantly. Sentiment had turned extremely bearish. This rebound feels like classic relief: millions in shorts got liquidated, adding fuel, while fresh buying interest emerged.
On the technical side, support around 64-65k held firm, and we're now testing resistance near 70k. A clean close above 68k could open the path toward 72k or beyond. However, risks are still present—dominance remains elevated, many altcoins are lagging, and external factors like policy changes or regulatory developments could shift momentum quickly.
From watching multiple cycles, this looks more like a strong short-term rebound than a confirmed new bull leg. Structural demand is rebuilding through consistent accumulation, but volume and open interest aren't yet screaming sustainable upside. Overbought signals are appearing on shorter timeframes, so caution is warranted.
If we hold above 67-68k and break 70k decisively, it could evolve into something bigger. Otherwise, we might see more range-bound trading or even a retest of lower levels. For long-term believers, dips during this move could still be attractive, but chasing the top on euphoria is risky.
Where do you see Bitcoin heading in the coming days? Let's hear your views!
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