BTCUSD Today: February 26 — $468M Shorts Squeezed as BTC Nears $70K
Bitcoin price today pushed toward $70,000 before cooling near $68,100, triggering over $468 million in crypto short liquidations. The squeeze lifted Bitcoin (BTCUSD) quickly, then momentum stalled. With leverage elevated and funding costs unstable, analysts see a BTC relief rally, not a confirmed uptrend. For investors in Germany, USD quotes dominate, while euro pricing on local platforms will vary with EURUSD. We outline what fueled the move, the technical setup, and practical tactics to manage risk on a volatile, news-sensitive session.
What drove the short squeeze
The sharp move toward $70,000 forced widespread position covering, with over $468 million in crypto short liquidations. Elevated leverage met thin liquidity, pushing price through stops. Once shorts closed, buy pressure eased and gains faded. For context, On-Balance Volume remains deeply negative, hinting that the pop relied more on forced flows than fresh long conviction, a typical sign of a BTC relief rally.
Stop clusters sat just below and above round numbers. As price probed $70,000, it tripped stacked orders and vacuumed nearby liquidity. Average True Range at 3,848.94 shows wide daily swings, so breakouts can overshoot. After the spike, sellers knocked price back from the day high at 68,866.86. This explains why Bitcoin price today failed to hold early strength.
Volume printed 148,951,746 versus a 534,960,644 average, showing lighter-than-normal participation during the squeeze. Money Flow Index at 58.15 sits just above neutral. Meanwhile, the strongly negative OBV suggests distribution over recent weeks. Together, these readings imply the rally leaned on liquidations rather than durable spot demand, which keeps breakout attempts fragile until real buyers return.
Technical picture for the next 24–48 hours
The trend remains challenged. RSI at 41.94 sits below 50, and MACD is negative at -4,973.99 with a modestly improving histogram at 385.06. ADX at 49.85 signals a strong trend, but the direction has been down. Awesome Oscillator is negative. Stochastic %K at 45.50 is mid-range. Net message: momentum is stabilizing, yet confirmation is missing for a lasting reversal beyond a BTC relief rally.
Price is near the Bollinger middle band at 70,288.67, a key pivot. A close above that opens 72,500 to 73,500, with heavier resistance near the 50-day average at 80,166.90. Failure to reclaim 70,288.67 keeps risk toward 67,717.55 intraday support and potentially the lower band at 58,447.08. Bitcoin price today respects these zones as algos key off them.
Given ATR near 3,849, position sizes should reflect wide ranges. Many traders will fade spikes into resistance and buy dips into defined supports, using tight invalidation. Consider scaling orders rather than single entries. Avoid chasing if liquidity thins. Let a 4-hour close above 70,288.67 confirm strength. This keeps Bitcoin price today in focus while reducing whipsaw risk.
Implications for German investors
German investors often trade euro pairs on domestic platforms or use ETPs listed in Frankfurt. Spreads and issuers’ fees can widen during volatile windows, so check all-in costs. USD-based moves will translate into euro outcomes depending on EURUSD, which can add variance. Expect intraday swings to show as roughly €-equivalent ranges on local quotes.
Use limit and OCO orders, predefine stop levels, and cap leverage. Consider scaling in across levels near support and trimming into resistance. Keep funding costs and slippage in mind. When the backdrop looks like a BTC relief rally, trade smaller, wait for closing confirmations, and favor asymmetric setups with clear downside limits.
Speculative flows and prediction markets can amplify noise around crypto headlines. Recent coverage of on-chain betting venues highlights this rising interest The rise of Polymarket, the cryptocurrency-based betting site for current events and Watch Polymarket, Kalshi Gamify Truth With Bets on Politics, News. These are sentiment guides, not trading signals for Bitcoin price today.
Final Thoughts
Bitcoin price today pressed toward $70,000, then eased near $68,100 as more than $468 million in shorts were liquidated. The pattern fits a fast squeeze followed by cooling demand. Technically, RSI below 50, a negative MACD, and resistance around the Bollinger middle band at 70,288.67 argue for caution. A decisive close above that level would hint at more upside toward 72,500 to 73,500. Failure keeps pressure toward 67,717.55 and, if risk-off returns, the 58,447.08 band. For investors in Germany, size positions for an ATR near 3,849, focus on tight invalidations, and avoid chasing moves. Let price confirm breakouts, scale entries, and plan exits ahead of news to manage volatility with discipline.
FAQs
Why did crypto short liquidations spike above $468 million today?
Bitcoin surged toward $70,000, running through clustered stops as thin liquidity met high leverage. Forced buying from short liquidations pushed price higher, then momentum faded once covers finished. Volume ran below average, suggesting the move leaned on liquidations rather than fresh spot demand, which limits follow-through until real buyers step in.
Is this a trend reversal or just a BTC relief rally?
Indicators lean toward a BTC relief rally. RSI sits at 41.94, MACD remains negative, and ADX shows a strong but previously downward trend. The histogram’s small improvement helps, but confirmation needs a sustained close above the Bollinger middle band near 70,288.67 with stronger volume. Until then, fade-and-range tactics may work best.
What key levels should I watch after the push toward $70,000?
Watch 70,288.67 as a pivot. A close above could open 72,500 to 73,500, with bigger resistance near the 50-day average at 80,166.90. On the downside, monitor 67,717.55 intraday support and the lower Bollinger band at 58,447.08 if risk-off returns. These zones often guide algorithms and short-term flows.
How can investors in Germany approach Bitcoin price today?
Trade euro pairs or regulated ETPs, and account for spreads, fees, and EURUSD effects. Size for ATR near 3,849, use limit or OCO orders, and avoid chasing spikes. Let a 4-hour close above 70,288.67 confirm strength. If price stalls below resistance, consider scaling out and waiting for better entries.
What risk management fits today’s volatility profile?
Use smaller size, wider but defined stops, and preplanned targets. ATR near 3,849 implies broad ranges, so position sizing matters more than usual. Scale entries, place stops beyond obvious wicks, and reduce leverage. If momentum confirms with closes above key pivots, add gradually rather than entering all at once.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.