BTC Rebounds After January Drop – Is $69K the Turning Point?Bitcoin / US DollarCOINBASE:BTCUSDAlchemyMarketsIn this update, we break down the late January / early February Bitcoin drop and the macro reasons behind it. We look at how rising yields, a stronger dollar, and risk-off pressure triggered the sell-off — and why stabilising macro conditions have supported the recovery. On the technical side, Bitcoin is now pushing toward the top of a descending channel, which could also be seen as a bull flag. The key level to watch is 69,000 — a break above this level would invalidate the short-term bearish structure and open the door to further upside. We’re at a clear decision point. Let’s break it down.