- Bitcoin is currently challenging a critical $71.5K resistance level; a successful breach is expected to catalyze a fast move toward the $78,000–$80,000 range.
- With the BTC/Gold ratio sitting at 14—far below the 2021 peak of 37—Bitcoin appears significantly undervalued relative to traditional safe-haven assets.
- Current price action mirrors the “V-shaped” recovery seen during the 2020 COVID market crash, suggesting that the recent dip to $60,000 was a definitive local bottom.
The volatile world of cryptocurrency, Bitcoin continues to capture attention with its potential for explosive growth. On February 9, 2026, prominent crypto trader and founder of MN Fund, Michaël van de Poppe (@CryptoMichNL), shared an insightful analysis on X, emphasizing Bitcoin’s strength despite recent price dips. According to van de Poppe, Bitcoin “couldn’t even get that much down,” as aggressive bidding quickly seized control, turning potential weakness into a bullish signal.
The 2020 Parallel: Recovering from the Liquidation Flush
The analyst draws parallels to the 2020 COVID market crash, where Bitcoin recovered swiftly after hitting lows. He predicts a similar trajectory, with a clear breakout above the $71.5K resistance level expected in the coming days. This could catalyze a surge to $78-80K over the next one to two weeks, driven by accumulating momentum and improving market dynamics.
A key pillar of his optimism is Bitcoin’s valuation relative to gold, which he describes as “extremely low.” As of February 10, 2026, Bitcoin hovers around $70,000 USD, while gold trades at approximately $5,050 per ounce. This yields a BTC/Gold ratio of about 14, a stark contrast to the 37 seen at the 2021 bull market peak. Such compression historically precedes periods of outperformance for Bitcoin, as investors rotate into digital assets amid global economic uncertainties, including ongoing inflation concerns and geopolitical tensions.
Technical Roadmap: Clearing the $71.5K Resistance Barrier
Van de Poppe’s accompanying TradingView chart on a 4-hour timeframe illustrates this setup vividly. It depicts Bitcoin’s recent downtrend from around $73K, with candlesticks showing a sharp decline but stabilizing near a “potential bounce area” between $64K and $66K.
Horizontal resistance lines mark key levels up to $91K, while volume bars reveal heightened activity during the dip, supporting the bid-driven recovery narrative. The upper panel features a moving average overlay, highlighting the bearish tilt that’s now at risk of flipping bullish.
Market participants echo this sentiment in replies, with some noting negative funding rates as a squeeze catalyst and others cautioning on macro factors like upcoming CPI data. Yet, the overall tone remains positive, bolstered by Bitcoin’s halving effects and institutional inflows.
This analysis underscores Bitcoin’s role as a hedge against traditional assets. With so much “upside to come,” as van de Poppe puts it, traders should monitor the $71.5K level closely. While risks persist in this speculative market, the technical and fundamental alignment suggests the king of crypto may soon reclaim its throne.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
