Bitcoin Price Prediction – Why BTC Could Rebound to $84k

Highlights:

• Bitcoin is consolidating between the $78,822 resistance and $74,834 support
• Rally through the $78,822 resistance could send Bitcoin to $84,181 short term
• Leveraged longs flushout, and a better legal framework could push BTC higher

Bitcoin (BTC) continues to show adverse price action, but is starting to stabilize from the heavy weekend selloff. When writing, Bitcoin was trading at $76,462.27, down by 2.01%. While the price is showing minor weakness, Bitcoin trading volumes have shot up intraday. They currently stand at $67.92 billion, up by 12% in the day. 

Advertisement

The rising volumes on a day when the price is weak could be an indicator that holders are still selling. It could be out of fear that the price could be headed much lower in the short term. However, given that the price is not showing any major breakdown, the volumes could also be indicative of buyers taking advantage of the recent correction to buy the dip. There are a couple of factors that support the possibility of buyers coming in to take advantage of the dip.

Flushout of Leveraged Longs Stabilizes Bitcoin’s Price

One of them is the fact that most of the heavy leverage was flushed out over the weekend. Recent Bitcoin corrections have mainly been driven by the liquidation of overleveraged positions. The weekend correction saw close to $800 million in Bitcoin leveraged positions liquidated. Now that most of this leverage has been removed from the system, most of what is driving the price is spot activity, and this can’t move the price in a big way.

Bitcoin has now closed FOUR consecutive months in the red, the longest bearish streak since 2018.

💥 Largest long liquidation wave since October.
⏱️ Six days.
💸 $5B liquidated
₿ $1.7B from bitcoin futures alone

📉 The recent low of ~$74,500 means a drawdown of roughly 41%… pic.twitter.com/HpzHFuUhGj

— Naga Avan-Nomayo (@JeSuisNaga) February 2, 2026

As such, investors expect the price to start stabilizing at this point and going into the future. This perception not only explains the intraday price stability, but could also see BTC experience a rebound in the short term. A rebound could also attract leveraged longs again, which can add to the buying pressure in the short term. A push back above $80,000 would particularly drive the confidence of leveraged traders and trigger a FOMO run back to $90k, or even higher. 

Upcoming Cryptocurrency Industry Events Could Boost Bitcoin

Buyers are also likely to be attracted to Bitcoin by the fact that a major cryptocurrency event is on the horizon. In May, the cryptocurrency industry will be attending Consensus Miami, which is often dubbed the Super Bowl of cryptocurrency. Analysts expect this event to draw in over 20k people from across the globe.

Historical data shows that as this event approaches, Asian trading volumes in Bitcoin tend to shoot up. Since Asia is one of the most prominent players in the cryptocurrency space, this means a stabilization of Bitcoin’s price now, followed by a rally as the event draws near.

From Wall Street's biggest banks to crypto's most influential builders, Consensus is where institutional capital meets on-chain innovation.

The roster for Miami is stacking up, and it reads like a who's who of digital assets—save the date & secure your pass to join them 😎 pic.twitter.com/2HEarIsTX1

— #Consensus2026 → Miami (@consensus2026) January 27, 2026

Improving Legal Environment Likely to Drive Institutional Confidence in BTC

A rebound in the price of BTC is also supported by the fact that the infrastructure for cryptocurrencies is getting stronger. This is especially the case in the US, where rules continue to get clearer, which is what institutional investors want.

Last year, the US passed the Genius and Clarity Acts. The market is now looking forward to an even more important law through the market structure bill. Once this passes, Bitcoin could rally back to new highs. That’s because American corporations, which are already investing in Bitcoin, could double down on the same when the rules are unambiguous. 

Technical Analysis – Bitcoin Consolidating After Heavy Selloff

Bitcoin is currently consolidating between the $78,822 resistance and $74,834 support. If bulls take control and push BTC through the $78,822 resistance, a rally to $84,181 resistance could follow.

On the other hand, if there is a correction through the $74,834 support level, Bitcoin could drop to $70k or lower in the short term. With leveraged longs already flushed out and significant industry events coming up in the near term, the odds favor a rally to $84,181. 

Advertisement