Bitcoin price analysis: BTC at attractive levels for patient investors

CoinDesk

by Krisztian Sandor

February 21, 2026

AI-Generated Deep Dive Summary

Bitcoin appears to be nearing a bear market trough, presenting an attractive entry point for patient long-term investors, according to Vetle Lunde of K33 Research. The current price levels resemble late 2022's bear market bottom, suggesting a prolonged consolidation phase between $60,000 and $75,000. Despite the extended period of sideways trading, Lunde emphasizes that this could be an opportune time for accumulation. The cryptocurrency market is currently in a quiet consolidation phase, marked by reduced trading activity and speculative excess being flushed out. Spot volumes have dropped significantly, while futures open interest remains at a four-month low with negative funding rates across the board. These indicators suggest that market participants are digesting losses and resetting positions after heavy liquidation cascades. Sentiment gauges, such as the Crypto Fear & Greed Index, reflect investor disillusionment, reaching an all-time low of 5 recently. This aligns with historical patterns where prolonged consolidation precedes significant price movements. Experts like James Check from Checkonchain highlight that Bitcoin often remains stagnant before explosive growth phases, making it crucial for investors to maintain patience rather than trying to time the market perfectly. With U.S.-listed bitcoin ETFs experiencing a record decline in exposure since early October, the market's retreat has been substantial but not definitive. Bitcoin's sideways periods are historically seen as opportunities for strategic positioning, with long-term holding often yielding rewards despite frustratingly slow movements. For readers interested in crypto, this analysis underscores the importance of adopting a patient and long-term perspective amidst volatile markets. While the current environment may test investor patience, historical precedents suggest that those who hold steady during consolidation phases are more likely to capitalize on future growth spurts.

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Originally published on CoinDesk on 2/21/2026