Bitcoin is experiencing short-term selling pressure as bearish momentum dominates the market. At the time of writing, BTC trades at $67,509 with a market cap of $1.35 trillion. Analysis indicates a weekly golden cross, which historically preceded price gains of 15–21%. However, technical indicators like an RSI of 27.64 show the asset is nearing oversold conditions while trading below key moving averages.
Bitcoin faces ongoing bearish pressure, with its price declining 0.50% over 24 hours to $67,509. According to data from CoinMarketCap, its market capitalization stands at $1.35 trillion.
On February 17, 2026, analyst BATMAN pointed out a golden cross on Bitcoin’s weekly chart. This signal has occurred only twice in the past six months, with subsequent price increases of 15–21%.
Technical indicators reveal significant weakness. The Relative Strength Index is at 27.64, indicating Bitcoin is close to being oversold.
The asset is trading below its major moving averages, including the 20 SMA at $99,478.63. The MACD line also remains in negative territory.
Despite the dominant bearish trend, the golden cross hints at a potential short-term bounce. Historical support levels around $65,000 to $66,000 are areas where rebounds have occurred.
Market observers are advised to remain cautious as momentum could shift rapidly. Any significant buying or selling activity could impact Bitcoin’s price direction.
