Why is Bitcoin USD down 12.7% today?

Bitcoin experienced a **-12.72% daily decline** due to broader market risk-off sentiment and profit-taking activity. Elevated trading volume at **$2.77 billion** (nearly 2x average) confirms genuine selling pressure. Technical weakness, with ADX at **25.89** signaling a strong downtrend, contributed to the decline. Institutional flows, including Ark Invest's Coinbase share sales, suggest some caution among major players.

What is the Bitcoin USD price forecast for 2026?

Bitcoin is forecasted at **$97,708.81** for 2026, representing a **+39.4%** gain from current **$70,100** price. The quarterly target is **$122,447.91** (+74.8%), while the monthly forecast is **$71,408.39** (+1.87%). These projections assume recovery from current downtrend but suggest Bitcoin may struggle to reclaim the year-high of **$126,296** without significant catalysts.

What are the key support and resistance levels?

Immediate support forms at the lower Bollinger Band (**$84,208.69**) and Keltner Channel lower band (**$83,600.01**). The 50-day moving average at **$88,442.85** acts as intermediate resistance. Resistance also appears at **$72,000** and the previous close at **$72,998**. A break below **$83,600** would target the year-low at **$62,266.86**.

Is Bitcoin USD oversold right now?

No, Bitcoin is not oversold. The RSI at **48.91** sits in neutral territory, neither above 70 (overbought) nor below 30 (oversold). The Stochastic %K at **54.73** also indicates neutral momentum. While the **-12.72% daily decline** is significant, technical indicators suggest the selloff has stabilized without reaching extreme oversold conditions that typically precede sharp reversals.

What does the technical analysis suggest for Bitcoin's next move?

The ADX at **25.89** confirms a **strong downtrend** is in place, suggesting further weakness is possible before reversal. The MACD histogram at **721.64** shows bearish momentum, with the fast line below the signal line. However, neutral RSI and MFI suggest the selling may be losing steam. A break above **$88,442** (50-day MA) would signal trend reversal, while a break below **$83,600** would confirm further downside toward **$80,000**.

Crypto Insights

Bitcoin USD Drops 12.7% as RSI Signals Oversold Territory

ByDanny Kontos February 7, 2026February 7, 2026

Bitcoin USD is trading at $70,100 as of February 6, 2026, down $2,898 or -3.97% from the previous close. The cryptocurrency experienced a sharper -12.72% decline over the past day, reflecting broader market volatility. With a market cap of $1.27 trillion and trading volume at $2.77 billion, Bitcoin remains the largest cryptocurrency by market value. Technical indicators show mixed signals, with RSI at 48.91 suggesting neutral momentum rather than extreme oversold conditions. Understanding the current price action and technical setup is essential for tracking Bitcoin’s near-term direction.