After several days of intense selling pressure, Bitcoin rebounded strongly from the key support level at $62,525. The move is being viewed as a relief rally, pushing BTC up approximately 9% early Wednesday to a high of $69,311 before slightly pulling back to trade around $68,384, according to TradingView data.
Technical Signals Improve as Markets React to Trump’s Speech
The latest rebound appears to be driven by a combination of factors, including:
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Traders responding to bullish technical patterns
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Market sentiment following President Donald Trump’s State of the Union address
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A broader return of risk-on appetite across the crypto sector
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Renewed institutional buying activity
On the hourly chart, Bitcoin formed a double bottom pattern, a classic technical reversal signal. Price action also began printing higher highs and higher lows, a structure commonly seen in the early stages of an upward trend.
Notably, the rally coincided with positive market reactions to Trump’s speech, which helped boost risk sentiment across digital assets.
Institutional Demand Returns Despite “Extreme Fear”
While retail investors remain influenced by “Extreme Fear” sentiment, institutional players appear to be accumulating.
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On February 24, 2026, Bitcoin ETFs recorded $257.71 million in net inflows.
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One day earlier, Strategy — the world’s largest corporate Bitcoin holder — purchased 592 BTC, worth approximately $39.8 million.
The renewed accumulation suggests long-term confidence in Bitcoin remains intact despite short-term volatility.
Is a Full Trend Reversal Underway?
Although early signals are encouraging, Bitcoin remains within a relatively tight trading range and has yet to break above a significant higher-timeframe resistance level.
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The $66,000–$70,000 zone remains a critical resistance area.
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A decisive breakout above this range would strengthen the case for sustained long-term bullish momentum.
For now, the market stands at a pivotal point — either confirming a broader trend reversal or continuing consolidation before its next major move.
