Bitcoin Price Forecast – BTC Risks $60K Drop as Support Weakens on Rate-Cut Uncertainty

Highlights:

• Bitcoin continues consolidating between $67,766 and $65,970
• Bears are starting to take control, putting the $65,970 support in focus
• Reduced hopes for interest rate cuts in 2026 could push Bitcoin lower 

Bitcoin (BTC) is little changed today, continuing the directionless trading it has exhibited in the last few days. When writing, Bitcoin was trading at $67,070, down by a negligible 0.09% intraday. However, trading volumes have shot up by 12.98%. The rising volumes at a time when the price is unchanged could be a pointer that Bitcoin could go either way. 

That’s because, if it’s buyers driving the volumes, a bullish breakout could follow. On the other hand, if it’s sellers that are driving the price action, a major correction could follow in the short term. While Bitcoin could break out in any direction, the odds are higher for a break to the upside. 

Resilient US Economy Good for Bitcoin Long Term

A key factor that could drive Bitcoin higher is the data that came out of the US yesterday. The data showed that the US added 130k jobs in January 2026. This is stronger than most analysts were expecting. This resilience in the US economy is likely to boost confidence in risk-on assets going forward. As such, while the immediate reaction was muted due to a reduced likelihood of a rate cut in the long term, it is good for Bitcoin.

US economy added 130K jobs in January, beating economists' expectationshttps://t.co/BkdHbQPYEG

— Karoline Leavitt (@PressSec) February 11, 2026

Bitcoin Declining Liquidity Could Push the Price to $60K

As for the factors that could push Bitcoin lower, one of the biggest risks is the declining value of Bitcoin is the declining liquidity. After a prolonged correction in the cryptocurrency market, investor interest, especially among retail investors, is shrinking.

The declining liquidity is most evident in BlockFills’ decision to halt withdrawals. The company noted that the move was driven by increased volatility and that it sends the wrong signal to the markets. It could drive even more investors away from Bitcoin into stocks and other cryptocurrencies in the short- to medium-term. The result is that the Bitcoin bear market could continue and hit even lower prices in the short to medium term.

Crypto lender BlockFills suspends deposits & withdrawals amid BTC downturn Echoes of past crises — platform restoring liquidity. Stay safe. #Crypto #BlockFills pic.twitter.com/kTe7KlkPxs

— lia 🪐 (@CipherCort0ih0) February 12, 2026

Higher Interest Rates for Longer Could Incentivize Bitcoin Bears

Besides the declining liquidity, the data the US released yesterday could play against Bitcoin for the remainder of 2026. That’s because a low-interest-rate environment that prevailed from 2008 to 2022 made cryptocurrencies move beyond it. Since then, cryptocurrencies have generally struggled. Even the Trump-triggered pump appears to be losing momentum, according to the remarks of a US Federal Reserve governor. 

As such, now that the jobs report has come out strong, the odds of a rate cut at any point this year have dropped significantly. To add to that, Trump’s pick for the next Federal Reserve chairman is a person who favors a small Federal Reserve balance sheet. With interest rates unlikely to drop anytime soon, Bitcoin could fall as low as $50k in the foreseeable future.

Going by the Bitcoin 4-year cycle, 2026 is supposed to be a bearish year, all the way to October. Now that the ts are showing bearish momentum, short sellers may become even more confident and drive the price much lower in the short to medium term. 

Technical Analysis – Bearish Pressure Rising Even As Bitcoin Consolidates

Bitcoin is currently consolidating between the $67,766 resistance and $65,970. However, the bias is towards the $65,970 level of support. If bears push Bitcoin through the $65,970 support level, a drop to $60k could follow. 

On the other hand, if bulls take control and push Bitcoin through the $67,766 resistance, a rally to $70k could follow. Of these two scenarios, the odds are higher for Bitcoin to drop to $60k in the short term. That’s because of the dwindling odds for a rate cut anytime soon, after US data came out stronger than expected.