The reintroduction of global tariffs by the Trump administration, along with other geopolitical headlines, initially paralyzed the market, but the follow-through selling has slowed.

Although BTC remains roughly 50% off its $126,000 peak, the mid-week rally toward the $70,000 threshold has thrown yet another challenge to the bearish inertia that has defined February 2026. 

Given the ongoing ‘tariff-and-tug-of-war’ macro backdrop, some analysts have opined that the market is not ‘out of the woods’. However, BTC’s 6% rally suggests that the market’s weeks-long stretch of ‘extreme fear’ may have hit a point of exhaustion.

Behind Bitcoin’s rally to $69K 

The surge towards $70,000 can be attributed to a combination of…