bitcoin analysis: Can BTC hold the 68,000 support?

As of February 17, 2026, the Bitcoin market is facing a significant test. BTC is currently trading near $68,150, down approximately 24% since the start of the year. After a volatile start to 2026, many are wondering if we have found a local bottom or if there is more room to fall.

Analysts are closely watching the $60,000–$65,000 range. This is considered a critical support level that must be defended to avoid a deeper bear phase.

The "Fear and Greed Index" is currently at 10/100, signaling "extreme fear." While this sounds scary, historically, such levels have often preceded market reversals.

US-listed Bitcoin ETFs have seen four consecutive weeks of net outflows, totaling roughly $3.8 billion. This indicates that big players are currently in a "risk-off" mood.

My Take:

While the short-term outlook is cautious due to high inflation and geopolitical tensions, some long-term targets remain bullish, with analysts at Standard Chartered still eyeing a recovery toward $100,000 by year-end.