Bitcoin: Why Fidelity calls $65K an ‘attractive entry point’

The primary week of February has been brutal carnage, exposing buyers to huge losses as Bitcoin [BTC] dropped to sub-$60Ks for the primary time since 2024. 

Unsurprisingly, the market sentiment soured to ‘excessive worry’ with the consensus index exhibiting all analysts flipped bearish this week. Contrarian sentiment is beginning to floor following the shaky but aid bounce across the $60K degree.

Supply: Unbias

Will $60K maintain regular?

From a technical chart’s perspective, the value zone above $60K, which aligns with the previous cycle peak, might ease the correction. 

An identical stance was echoed by Jurrien Timmer, director of world macro at asset supervisor Constancy. Timmer billed the prolonged sharp drawdown as BTC pricing in Kevin Warsh’s affirmation as the following Fed chair. 

“The markets spoke loudly final week to the following Fed Chair being introduced. For Bitcoin, although, I proceed to view $65k as a beautiful entry level.”

Supply: Constancy

Nonetheless, gold outperformance might preserve it muted. Timmer predicted that gold might preserve its market lead till BTC ETF inflows resume. 

The ETF flows issue

In line with the chart shared by Timmer, BTC ETF inflows peaked in October after which contracted.

In distinction, gold and silver ETF flows climbed as buyers piled into metals and protected havens amid heightened macro uncertainty forward of a brand new Fed chair in Could. 

Supply: Constancy

Even so, analysts at asset supervisor Bitwise had been nonetheless firmly bearish, warning that off-chain alerts, notably BTC ETFs, urged the drawdown was removed from over. 

The analysts, led by Andre Dragosch, said that the market crash has not attracted huge ETF outflows, however the resilience might nonetheless be an issue. 

“Traditionally, sustained ETF outflows have tended to coincide with capitulation occasions, implying {that a} decisive shift in ETF flows might nonetheless function a crescendo second for broader market capitulation.” 

A latest AMBCrypto report established that BTC held by ETFs dropped by solely 6.6% regardless of the +50% worth crash since late 2025, underscoring the resilience talked about by Bitwise analysts. 

However will the market take a look at this resilience?

Market worry eased, however not cleared

At press time, Choices insights additionally painted an analogous cautious outlook. Notably, the 25-Delta Skew climbed barely after hitting a low of -28 within the volatility index, however remained detrimental.

This meant detrimental market sentiment eased after the aid bounce at $60K however warning persevered. Put in another way, Choices gamers had been nonetheless shopping for extra places (bearish bets for draw back safety) than calls (bullish bets). 

Supply: Amberdata

Last Ideas

• A Constancy analyst seen BTC’s sub-$60K ranges as an incredible shopping for alternative, citing previous market correction patterns. 
• Nonetheless, the market remained cautious regardless of retesting $60K, and continued ETF outflows might push BTC decrease.