Bitcoin faces a battle to recover as asset is caught in a “macro tug-of-war”

February 12, 2026

Bitcoin has been experiencing a period of volatility, with the price briefly dropping below $67,000 before rebounding due to a positive jobs report. Gracy Chen, CEO of Bitget, noted that Bitcoin has been caught in a “macro tug-of-war” situation, with external factors such as geopolitics and liquidity conditions driving price action more than internal crypto-related reasons.

Pratik Kala, portfolio manager at Apollo Crypto, highlighted the significance of Bitcoin resting on its 200-week exponential moving average (EMA). This level is closely monitored by systematic and momentum trading strategies, and breaking below it could signal more selling pressure. Kala suggested that if Bitcoin falls below this critical level, a retest of $65,000 could be on the horizon.

Looking ahead, Chen stated that the market is currently stabilizing after recent fluctuations. She predicted a period of consolidation for Bitcoin, with a trading range of $60,000 to $75,000 expected in the coming weeks. However, Chen warned of a downside scenario where Bitcoin could drop to $50,000 if selling pressure increases and shorts become more aggressive. In such a scenario, $50,000 would serve as a key support level that could attract buyers and trigger a sharp rebound.

Overall, market analysts are closely monitoring Bitcoin’s price movements and key technical levels to gauge potential future scenarios. While the current focus is on the $67,000 level and the 200-week EMA, traders are prepared for various outcomes depending on how market forces evolve. As Bitcoin continues to navigate through this “macro tug-of-war” environment, investors are advised to stay alert and adapt to changing market conditions to make informed decisions.