Feb 18, 2026
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BEARISH 📉 : Bitcoin struggles below $70K as miners withdraw 36K BTC
Bitcoin Price Consolidation
- Bitcoin is struggling to reclaim the $70,000 level, with price action confined above $60,000.
- This reflects selling pressure near resistance and buying support at lower levels, creating equilibrium without a clear trend.
- Market sentiment remains cautious as traders watch liquidity conditions, macro signals, and on-chain flows.
Miner Behavior and Withdrawals
- CryptoQuant analysis reports that Bitcoin withdrawals from exchanges have accelerated since February, totaling around 36,000 BTC.
- Miners withdrawing coins may indicate reduced immediate selling intent, often moving holdings to long-term storage or alternative liquidity strategies.
- Significant withdrawals were observed from Binance (12,000 BTC) and other platforms, suggesting coordinated repositioning.
- Daily withdrawal intensity reached over 6,000 BTC in one day, indicating a potential phase of miner repositioning.
Price Action and Technical Analysis
- Bitcoin shows structural weakness, with a downtrend following rejection from late-2025 highs.
- The price is below key moving averages, acting as dynamic resistance, which indicates sustained selling pressure.
- Volume spikes suggest panic-driven liquidation, but reduced volume during consolidation points to temporary exhaustion of aggressive sellers.
- The $60K–$65K zone is a critical short-term support area; a breakdown could lead to further decline, while recovery above $70K might signal stabilization.
