BTC $70K Range Amid Confidence Crisis, Analysts Eye $150K by Year-End

Bitcoin prices hovered around $70,000 on February 9, 2026, following a volatile sell-off after a recent rebound. The cryptocurrency has declined roughly 44% since reaching a high of over $126,000 in October 2025, amid forced liquidations and "whale" selling that intensified the winter. Bernstein analyst Gautam Chhugani said the recent decline reflects a confidence crisis, not systemic issues or scandals. He noted AI-driven demand is outpacing Bitcoin, yet the bearish case is at its weakest. While现货 ETF inflows have totaled about 7%, Bitcoin erased about 50% in a single week. Chhugani sees quantum computing risks as distant and看好 institutional support for blockchain resilience. He forecasts a potential new all-time high and sets a year-end target of $150,000. Bitcoin steadied above the $61,000 low from Friday. Sean Farrell of Fundstrat raised the fund’s net-long exposure to 80% but retains flexibility for a potential retest of the $50,000 level.