Bitcoin is continuing to trade in a tight range around $66,000 after a period of heightened volatility that saw sharper moves earlier this month. The asset posted a 1.9% decline over the past 24 hours, while the broader cryptocurrency market cap settled near $2.27 trillion (down 2.12% in a day).<\/p>\n
However, a top Kraken analyst, Thomas Perfumo, has argued that conditions could favor a Bitcoin comeback after this consolidation phase ends. Perfumo drew parallels between BTC\u2019s current market conditions and similar scenarios in August 2024 and March\u2013April 2025, when heavy selling phases gave way to normalized volatility and strong recovery rallies.<\/p>\n
Interestingly, crypto presales have maintained their under-the-radar momentum throughout the crypto market\u2019s ongoing quiet stretch. Due to the lack of action, market participants are hunting for projects that add practical functionality to established assets like Bitcoin, and offer the chance to enter at valuations that could deliver outsized moves when liquidity returns.<\/p>\n
As the Bitcoin Layer 2 project Bitcoin Hyper (HYPER)<\/a> matches this setup exactly, its presale has already pulled in more than $31.5 million \u2013 a figure that points to genuine demand for faster Bitcoin use cases. The L2 is also positioned to deliver real utility gains for BTC users, making HYPER potentially the best crypto to buy now.<\/p>\n Bitcoin<\/a> has held between roughly $65,000 and $72,000 for weeks, following a flush in early February that took out several key support levels. The latest 1.9% daily drop shows bulls and bears fighting over the $66,000 mark, yet volume remains subdued, and funding rates have cooled.<\/p>\n During a recent interview, Thomas Perfumo (a global economist at Kraken) argued that the washout has set up better conditions. Options traders now price in calmer swings, and historical precedents support a rally once volatility drops further. Perfumo also stressed that aggressive, high-volume bidding will decide whether a new bullish market structure takes hold.<\/p>\n Meanwhile, the high-profile Bitcoin bull Michael Saylor has claimed that holding Bitcoin is comparable to owning a slice of Manhattan real estate. Saylor also stressed that any paper losses faced by Bitcoin holders will stay unrealized as long as investors avoid panic-selling during temporary downturns.<\/p>\n Everyone: \"Saylor's underwater on Bitcoin. He's cooked.\"<\/p>\n Saylor: \"We're like a company that owns 3.4% of Manhattan with enough capital to hold out to the end of this century.\"<\/p>\n \"You're telling me it's been a bad week in Manhattan real estate?\"<\/p>\n The \"loss\" only exists if you're\u2026 pic.twitter.com\/hpjnkd10GO<\/a><\/p>\n \u2014 Lark Davis (@LarkDavis) February 18, 2026<\/a><\/p><\/blockquote>\nBitcoin Consolidation Continues as Rebound Signs Build<\/span><\/h2>\n
\n