Bitcoin Price Rises Friday – But Can the Rally Hold? Experts Remain Skeptical

Bitcoin staged a modest recovery on Friday, February 6, 2026, climbing back above $71,000 after dipping below $70,000 earlier in the week. The bounce came amid a broader risk-on move in equities and some short covering, but many analysts remain skeptical that the rally can sustain momentum.Friday Price Action RecapLow: ~$68,800–$69,200 (early week sell-off extension) High: ~$71,800 (Friday afternoon peak) Close: ~$71,200–$71,500 (up ~2.5–3% on the day) 24h volume: Elevated but not euphoric — signs of short covering rather than fresh buying. The move erased part of the sharp 12–15% drop from late January highs ($82K–$83K zone), but BTC remains down ~14% from its recent peak and **20%** off all-time highs set in late 2025.Why Experts Are SkepticalMacro Headwinds Persist Renewed Trump tariff threats (China, EU, Mexico) keep risk-off sentiment alive. Fed minutes (Feb 5) showed less dovish tone than expected — markets pricing fewer cuts in 2026. U.S. equities (Nasdaq, S&P) pulled back Friday, dragging crypto with them. Leverage & Liquidation Hangover Over $1.5 billion in BTC long liquidations since late January (Coinglass). Funding rates still negative → more downside pressure if longs keep getting flushed. Technical Picture $70K–$71K now resistance (former support flipped). Next real support: $65K–$67K (previous consolidation). RSI on daily/weekly still oversold but not diverging bullishly yet. Analyst Views JPMorgan: “Near-term relief rally likely, but structural risks remain.” Target $75K–$80K if macro stabilizes. Bitwise CIO: “Profit-taking normal after 40% run. Real test is $65K hold.” CryptoQuant: “Exchange outflows slowing — whales not accumulating aggressively yet.” Bearish camp (some macro funds): “This is a dead-cat bounce before retesting $60K.” What Could Change the Narrative?Strong ETF inflows resuming (Grayscale, BlackRock, Fidelity). Fed signaling more cuts or dovish surprise in upcoming data. Risk-on rotation back into tech/crypto if tariff fears ease. Break & close above $72,500 (50-day EMA) would flip technicals bullish. At digital8hub.com, we track Bitcoin price analysis, crypto market updates, sell-off & recovery patterns, trading insights, and more. Looking for key support/resistance levels, liquidation heatmaps, or how to position during this volatile phase? Check our finance and crypto sections.Bitcoin’s Friday bounce looks nice — but experts say the jury is still out. $65K hold or $72.5K break will tell us a lot about the next leg.