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Bitcoin price confirms bullish divergence as liquidations spike, eyes $71k resistance

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Bitcoin's daily RSI has formed a bullish divergence with its price.

Bitcoin price has confirmed a bullish divergence on the daily chart as liquidation levels shot up on Monday.

Summary

  • Bitcoin’s Relative Strength Index has formed a bullish divergence.
  • Several key economic data points, including FOMC minutes from January, could decide Bitcoin’s trajectory this week.
  • Over $75 million of positions were liquidated from Bitcoin’s futures market.

The daily chart for Bitcoin shows that its Relative Strength Index has formed a bullish divergence with its price, which has been in a prolonged downtrend since mid-January.

Bitcoin's daily RSI has formed a bullish divergence with its price.
Bitcoin’s daily RSI has formed a bullish divergence with its price — Feb. 16 | Source: crypto.news

A bullish RSI divergence occurs when the RSI records higher lows while the related asset’s price continues to set lower lows. Such a technical formation has often been a precursor to a significant trend reversal or a relief rally.

Besides the bullish RSI, another positive indicator came from the MACD histogram and moving averages, which showed the MACD line had just crossed over the signal line, a telltale sign of an incoming bullish trend. Together, these indicators suggest that bullish momentum seems to be building, with bulls starting to assert dominance over the market.

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The shift comes after Bitcoin bulls attempted a rebound after the bellwether fell near the $65k support zone on Thursday. The asset rose sharply over the following days but faced resistance around $71k for the second time in the past 7 days, as investors remained on the sidelines awaiting key economic data expected to be released this week.

First, Federal Reserve Governor Michael S. Barr’s speech on Wednesday, Feb. 18, is expected to focus on the intersection of Artificial Intelligence and the labor market. On the same day, the Federal Reserve will release the minutes from its January meeting, offering further clarity on the central bank’s stance on monetary policy. Finally, on Friday, the U.S. will release Q4 GDP and core PCE inflation data, which will also act as a major market catalyst.

Upcoming macro data should illuminate the Fed’s stance on monetary easing for the remainder of 2026, offering the structural clarity necessary for Bitcoin to establish its next trend.

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Key levels to watch

For now, the path of least resistance for Bitcoin (BTC) appears to be higher, with the $71K resistance line acting as the next key resistance level that traders will keep an eye on this week. 

A decisive break above it could lead to a reclaim of $75,000, which has previously served as a key support area in past cycles. On the contrary, a drop under $65,000 could validate the downtrend towards a likely retrenchment towards the $60K low observed on Feb. 6.

In the meantime, massive liquidations have been sweeping through the broader crypto market. In the past 24 hours alone, the crypto market saw nearly $300 million liquidated, with Bitcoin alone accounting for over $75 million worth of positions being liquidated. Persistent liquidations may keep Bitcoin price under pressure throughout the upcoming sessions.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Crypto World

Why Coinbase Users Haven’t Got Super Bowl Payouts

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Why Coinbase Users Haven’t Got Super Bowl Payouts

Coinbase is facing mounting criticism from users after many participants in its Super Bowl “Big Game Challenge” prediction market contest reported delayed or missing payouts, even after qualifying for shares of the advertised Bitcoin prize pool.

Community complaints and technical issues highlight the growing pains of prediction markets as they surge in popularity while confronting regulatory, operational, and infrastructure challenges.

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Coinbase Payout Issues Highlight Prediction Markets’ Growing Pains

On Reddit and other forums, users described confusing and frustrating experiences with the payout process. Reportedly, some users correctly predicted outcomes in the Big Game but “still haven’t been paid.

Others reported winnings showing briefly in their account balances before disappearing without explanation, or payouts reflected in USD without transferability or access.

Amidst these frustrations, some are calling the situation a “rug pull,” claiming Coinbase’s app initially confirmed a win after five correct picks, the threshold for eligibility, only for a later email to declare they had not won.

“According to the Coinbase app, I had won the Big Game Predictions with 5 correct predictions with $5 bet on each prediction. It told await my payout. However, I just received an email from Coinbase stating that I did not win. Does anyone else feel like this was a rug pull or a scam in some way? They said.

However, support responses seen in some threads indicate that rewards are being held until all prediction markets and mail‑in entries are settled, in line with the contest’s official rules.

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Coinbase has previously said winners will receive Bitcoin rewards directly into their accounts by February 23, 2026.

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However, the lack of transparency and account migrations has frustrated users trying to confirm settlement status.

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“We completely understand how important this is to you. Verified winners will receive their prize directly into their Coinbase account. The prize amount will be a share of $1,000,000 in Bitcoin, divided equally among all winners. Prizes are expected to be fulfilled no later than February 23, 2026,” Coinbase explained.

Infrastructure Strains, Regulatory Hurdles, and the Rising Stakes for Crypto Prediction Markets

The timing of these complaints coincides with broader strains in crypto-linked prediction markets. Partner platform Kalshi, which provides the backend for Coinbase’s event contracts, suffered deposit and transaction delays during the Super Bowl due to overwhelming traffic.

“Kalshi does all this ad investment just for their app, not to let you deposit on Super Bowl Day, sounds about right,” one user lamented.

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Kalshi co-founder Luana Lopes Lara acknowledged slowdowns but assured users that funds were “safe and on the way.

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These operational stretches highlight how infrastructure designed for everyday trading may struggle with spikes tied to major events.

Similar technical pressure was observed across the industry on prediction markets during the championship. This suggests systemic scalability challenges for platforms offering event contracts under high demand.

The Coinbase backlash arrives amid a broader regulatory and legal battleground. State gaming regulators, such as the Nevada Gaming Control Board, have sued Coinbase to block its prediction markets. They argue that they constitute unlicensed sports wagering.

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These legal actions fuel uncertainty around the regulatory status of event contracts, complicating rollout and user experiences.

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Meanwhile, critics from within the crypto community note that prediction markets must mature beyond short-term speculative betting.

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Voices like Ethereum co-founder Vitalik Buterin have warned that over-reliance on speculative contracts may create products lacking deeper utility, urging a focus on hedging and risk‑management applications.

The current Coinbase backlash highlights the operational and communication gaps that can accompany rapid product expansion.

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OKX Secures Malta License To Expand EU Stablecoin Payments

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Europe, Payments, Malta, Stablecoin, MiCA, OKX

OKX secured a Malta payment institution license to support EU-compliant stablecoin services, including OKX Pay and the OKX Card.

Cryptocurrency exchange OKX expanded its regulatory footprint in Europe, securing a license for stablecoin payments.

OKX has obtained a Payment Institution (PI) license in Malta, the company told Cointelegraph on Monday. The authorization is issued under the European Union’s payments framework and is designed to bring OKX’s payment products into line with requirements under the bloc’s Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2).

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Under these rules, crypto-asset service providers (CASPs) offering payment services involving stablecoins must hold either a PI or Electronic Money Institution (EMI) authorization. OKX’s PI license comes more than a year after the exchange received a MiCA license from the Malta Financial Services Authority (MFSA) in January 2025.

“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” OKX Europe CEO Erald Ghoos said, adding:

“Europe has chosen clarity over ambiguity when it comes to digital asset regulation […] Stablecoins can meaningfully modernize money, improving cross-border efficiency and reducing friction in payments, but only if built within strong regulatory guardrails.”

License supports OKX Pay and OKX Card rollout

The exchange said the license will cover products including OKX Pay and the OKX Card, which allow users to spend crypto assets and stablecoins.

Officially launched in late January, OKX Card supports spending in stablecoins such as Circle’s USDC (USDC) and the Paxos-issued Global Dollar (USDG).

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Europe, Payments, Malta, Stablecoin, MiCA, OKX
Source: OKX

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