Bitcoin Breaks $70,000 as Bulls Eye $76,000 While Defending Crucial Support Zone

2 mins mins

Key Insights:

Bitcoin surges past $70,000 backed by renewed U.S. demand and $41.5 billion trading volume spike.
Traders monitor key resistance between $74K–$76K, near Saylor’s average entry point for MicroStrategy.
U.S. buying surges as Coinbase Premium Index turns positive for the first time since mid-January.

*Bitcoin Breaks $70,000 as Bulls Eye $76,000 While Defending Crucial Support Zone*

Bitcoin (BTC) crossed above $70,000 today for the first time in weeks, marking a strong recovery from recent lows. The move follows a wave of renewed buying, especially from U.S.-based investors.

The current price of Bitcoin is $70,902.84, up 2.53% in the past 24 hours. Trading volume also surged, reaching over $41.5 billion.

Price Approaches Key Resistance at $74K-$76K

As Bitcoin moves higher, traders are watching the $74,000 to $76,000 range closely. This area is seen as the next resistance level that could slow further gains. It is also where MicroStrategy founder Michael Saylor’s average purchase price is reported to be.

Market watchers are paying close attention as Bitcoin nears this range. Many think a breakout could trigger the next upward move. According to TedPillows analysis, warn of possible rejection in this area, with the next major resistance zone being around $74,000-$76,000.

As the market pushes higher, traders are also keeping a close eye on support zones around the $66,000–$68,000 range. This resistance zone has previously triggered pullbacks, and traders are cautious as the price gets closer. If the price stays above this range, it may keep the bullish momentum going. But if it drops below, the price could revisit $60,000.

U.S. Buyers Return After Bitcoin Holds $60K

American investors returned to the market after Bitcoin bounced off the $60,000 level earlier this week. The Coinbase Premium Index turned positive on February 7, which showed a shift in U.S. demand.

“After BTC bounced off the $60K level, American investors aggressively bought the dip,” said @CryptosR_Us. This buying helped push Bitcoin back near the $70,000 mark as market confidence grew.

🚨 U.S. BUYERS STEP IN AS $BTC BOUNCES OFF $60K

The Coinbase Premium Index flipped positive on Feb 7 for the first time since mid-January ; signaling renewed U.S. buying pressure.

After BTC bounced off the $60K level, American investors aggressively bought the dip, driving a… https://t.co/J6AqnAPq5m pic.twitter.com/XXls030CjR
— CryptosRus (@CryptosR_Us) February 8, 2026

The index flipping positive was the first time since mid-January. Analysts highlight that it reflects that U.S. buyers are stepping back in with force. Traders saw this as a potential sign of continued upward movement in the short term.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.