Bitcoin Is Choppy Near $70K, But Valuation Models Predict These Targets Next
The post Bitcoin Is Choppy Near $70K, But Valuation Models Predict These Targets Next appeared on BitcoinEthereumNews.com.
Bitcoin trades near $70K as equity correlations steer short-term moves and keep volatility elevated. Options data shows choppy risk below $70K, with breakout odds rising after major gamma expiries. Valuation models place Bitcoin far below trend, signaling long-term upside despite macro pressure. Bitcoin continues its volatile dance around the $70,000 mark as traders grapple with conflicting signals. The leading cryptocurrency trades at $70,264 following a 3.04% daily gain. However, the broader picture shows an 11% decline over the past week. Market participants remain deeply divided on where the price heads next. Short-Term Technicals Point to Macro Dependence Analyst David highlighted the tight correlation between Bitcoin and traditional risk assets. The 30-day correlation shows Bitcoin moving in lockstep with the Nasdaq at 0.731 and the S&P 500 at 0.727. This relationship suggests that Bitcoin’s near-term movements depend heavily on broader market conditions rather than crypto-specific narratives. $54K BTC Mispricing: Choppy Short-Term (Tied to Nasdaq), Bullish Long-Term Bitcoin runs on two clocks: power law reversion and fast macro/liquidity moves. Short-term macro clock:BTC is tightly linked to risk assets right now. 30d correlation: Nasdaq +0.731, S&P +0.727, HYG… pic.twitter.com/0OkQBuYjHY — David 🇺🇸 (@david_eng_mba) February 7, 2026 The current microstructure reveals critical levels that could determine Bitcoin’s path forward. Spot price sits at $69,318 while the gamma flip level rests at $68,692. The maximum gamma pin targets $70,000, with a major put wall at $65,000 and call wall at $75,000. Gamma expirations scheduled for February 13, February 27, and March 27 could create opportunities for volatility. David noted that sustained holds above $70,000 would open a cleaner path toward $75,000. Conversely, trading below the flip level increases choppy and bearish risks. The short-term outlook remains fragile and macro-dependent. Bulls and Bears Draw Different Battle Lines The Milk Road outlined three distinct camps shaping current…
Filed under: News - @ February 8, 2026 1:08 pm