23% Surge Ignites Recovery as Bitcoin Reclaims $70k
The post 23% Surge Ignites Recovery as Bitcoin Reclaims $70k appeared on BitcoinEthereumNews.com.
The “frog” is leaping once more. After weeks of horizontal trading that left many retail investors wondering if the hype had finally evaporated, PEPE delivered a massive 23% price surge over the past seven days. This explosive move was not an isolated event; it occurred in lockstep with Bitcoin’s triumphant return to the $70,000 level, highlighting PEPE’s status as a high-beta asset that amplifies market momentum. The Real PEPE Recovery Traders looking for confirmation of a trend reversal have found it in the recent volume spikes. The 23% rally wasn’t just a “dead cat bounce”; it was supported by a 283% explosion in trading volume. As Bitcoin stabilizes near $70,000, liquidity is rotating back into high-risk memecoins, with PEPE leading the charge. This price action confirms that the asset remains the primary “Social Index” for the 2026 crypto market. High-Beta Volatility and BTC Correlation In the world of cryptocurrency trading, “high-beta” refers to assets that move more aggressively than the market leader. When Bitcoin rises 5%, PEPE often jumps 15-20%. Conversely, when Bitcoin dips, memecoins typically face steeper corrections. This relationship is why PEPE is often the first to “moon” during a market recovery, serving as a magnet for speculative capital. Pepe Coin Price Analysis: Breaking the $0.0000036 Support The recent surge was sparked by a successful defense of the $0.0000036 support zone. This level has become a fortress for “diamond-hand” holders. Whale Accumulation and Short Squeezes According to on-chain data from Santiment, the top 100 PEPE wallets accumulated approximately 23 trillion tokens during the recent consolidation. This institutional-grade buying at the “bottom” created a supply shock. When Bitcoin broke $70k, a massive wave of short positions was liquidated, “squeezing” the price up toward the $0.0000048 resistance level. PEPE/USD 4H – TradingView Key Price Levels to Watch Based on the…
Filed under: News - @ February 17, 2026 5:19 pm