Key Takeaways
- Bear market signals persist despite Bitcoin price rebound.
- Institutional activity continues.
- Analysts see a mixed outlook.
Bitcoin has climbed to its highest level in a month, offering the market a brief sense of relief after weeks of volatility.
However, beneath the rebound, several indicators suggest the rally may be fragile.
While institutional demand continues to grow and prices have pushed above key short-term levels, underlying market signals still point to a broader trend that may remain bearish.
At the time of writing, Bitcoin (BTC) was trading at $70,597, up about 4% over the past week after briefly surging above $72,000 during the latest rally.
Bear Market Signals Persist Despite Rally
According to crypto analytics data highlighted by Coin Bureau, the Bull Score Index remains at just 10 out of 100, indicating that broader market conditions still resemble those typically seen in a bear market.
The index measures multiple on-chain and market indicators to determine whether conditions are more consistent with bullish or bearish phases.
A reading this low suggests the recent price increase may represent a short-term relief rally rather than the start of a sustained bull run.
Despite this, Bitcoin has shown signs of strengthening momentum.
Data cited by CCN analyst Abiodun Oladokun shows the Aroon Up indicator is approaching 100%, a technical signal that an asset has recently made a new high within the selected time frame.
“When the Aroon Up line nears 100%, it means the asset has recently made a new high, indicating a strong upward trend,” Oladokun said.
BlackRock Continues Accumulating Bitcoin
Even as technical indicators point to lingering bearish conditions, institutional demand appears to be strengthening.
Blockchain analytics platform Lookonchain reported that BlackRock has continued accumulating Bitcoin, recording a net inflow of 4,172 BTC worth roughly $303 million in a single day.
Since Feb. 24, the asset manager has seen a total net inflow of about 21,814 BTC valued at approximately $1.58 billion into its Bitcoin holdings.
BlackRock also caught attention earlier in February after moving significant amounts of crypto to Coinbase Prime, the exchange’s institutional trading platform.
On-chain data shows that the asset manager moved 2,268 BTC and 45,324 ETH — worth about $247.7 million — to Coinbase Prime on Feb. 9, 2026.
Additional blockchain tracking by Lookonchain indicated that BlackRock also deposited 3,402 BTC (around $234.3 million) and 30,216 ETH (about $60.8 million) into Coinbase Prime in a separate transfer.
While the transactions do not necessarily signal an impending sell-off, it points to possible liquidity preparation.
VanEck Signals Possible Bitcoin Market Bottom
Some market observers believe Bitcoin has already hit the end of its structural downturn.
Last week, asset manager VanEck suggested it could be approaching a market bottom after months of heavy losses.
Speaking on CNBC, VanEck CEO Jan van Eck said the recent recovery across major crypto assets could indicate that the worst of the sell-off may be ending.
Van Eck noted that Bitcoin historically follows a four-year market cycle, with the fourth year often representing the weakest period after several years of gains.
“Bitcoin goes up three years in a row, then goes down pretty massively in that fourth year,” he said.
“That’s why we’re in a crypto bear market.”
Despite the current bearish phase, the executive said the latest market activity may suggest the beginning of a bottoming process.
“I think we’re making a bottom and this is a very nice sign of life,” van Eck added.
Analysts See Mixed Outlook for Bitcoin
Market analysts say the current rally could still extend if buying momentum continues.
According to Oladokun, the strengthening Aroon indicator suggests that buyers may be gradually regaining control of the market, potentially allowing Bitcoin to build on its recent gains.
“If bullish momentum continues, Bitcoin could break above resistance near $73,843 and potentially climb toward $78,125,” he said.
However, the analyst cautioned that the rally could quickly reverse if traders begin taking profits or if fresh demand slows.
In that scenario, Bitcoin could fall back to support around $70,612, close to its current trading level.
A break below that support could push the price further down toward $68,555, he added.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
