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Seeking Alpha 2026-02-26 03:15:00

Bitcoin And Altcoins Catch A Breather After Jane Street Lawsuit - $70,000 Coming?

Summary Bitcoin did indeed respond to its double bottom at $63,000. The current 10% move is a strong one but will require a clean close above $70,000 in order to confirm a further breakout. Ethereum being back above $2,000 is a great, early sign for enthusiasts to trust a more long-run rebound. Solana has formed a triple bottom and will now aim to break its past Sunday's $91.32 highs. By Elior Manier Crypto traders are back with a vengeance against one of their most despised enemies in a pretty unusual story for markets. Jane Street, the high-frequency trading giant, has reportedly been hit with a lawsuit from Terraform Labs. It could be behind the infamous LUNA token that collapsed ahead of the broader 2022 crypto meltdown and the downfall of FTX. The case centers on allegations of insider trading and market manipulation tied to one of the most damaging episodes in crypto history. Jane Street is widely known for generating massive and consistent profits, but scrutiny has intensified. In July 2025, the firm was fined $540 million by Indian regulators over derivatives manipulation that allegedly helped it generate up to $4 billion in profits. So what does this have to do with crypto? Jane Street could also be heavily involved in digital asset market manipulation. As a matter of fact, the recent lawsuit would look to confirm that thesis. ZeroHedge (market analyst on X) has been posting for a while about 10:00 A.M. crypto futures dumping, which aims at fixing algorithms to trade on their side. How it functions remains a mystery, but ever since the criminal case headlines, this persistent dumping has ceased. Correlation? Causation? Who knows, but what's for sure is that the asset class hasn't seen such a strong day in a while. Current Session in Cryptos – January 26, 2026 (15:22). Source: Finviz Looking at the price action, a more concrete market observation allows us to spot that the latest double-bottom in Bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ), highlighted in our past-day piece, has had some effect. Is a bottom in? Way too early to say. What's for sure, however, is that prospects are looking technically more solid after today's bounce, also led by a widespread rebound in the tech sector and Nasdaq (strongly correlated to crypto). A new uptrend will be confirmed when daily volumes recover, and consistent ETF inflows support it. There have been only 5 weeks of net inflows in the past 20, so a green bar this week should surely strengthen the case for a more consistent turn higher. Crypto ETF Weekly Inflows, February 2025. Source: Glassnode Let's dive right into the intraday charts and technical levels for Bitcoin, Ethereum and Solana ( SOL-USD ). Bitcoin (BTC) 4H Chart and Technical Levels Bitcoin (BTC) 4H Chart, February 25, 2026 – Source: TradingView Bitcoin did indeed respond to its double bottom at $63,000. The current 10% move is a strong one but will require a clean close above $70,000 in order to confirm a further breakout. Immediate price action will be an essential test: Consolidating close to the highs (between $68,000 and $70,000) will be a sign of strength. As short-term RSI levels contract, this would improve chances to break $70K. Rejecting below $66,500 (4H 50 MA) on the session would compromise the turn higher. This scenario holds lower probabilities on the immediate outlook. Levels of interest for BTC trading: Support Levels: $66,500 4H MA session support $60,000 to $63,000 main 2024 support (recent rebound) $59,935 February lows $52,000 to $58,000 next support and 200-week MA ($55,000 mid-point) $40,000 mid-2024 breakout support Resistance Levels: $69,000 - $70,000 short-term momentum pivot (immediate resistance) $75,000 key long-term pivot (acting as resistance) $80,000 to $83,000 key resistance (channel highs) $90,000 to $95,000 pivotal resistance Current ATH resistance: $124,000 to $126,000 Ethereum (ETH) 4H Chart and Technical Levels Ethereum (ETH) 4H Chart, February 25, 2026 – Source: TradingView Ethereum being back above $2,000 is a great, early sign for enthusiasts to trust a more long-run rebound. To be more realistic in forecasting a more long-term rebound, bulls will have to push within the $2,100 to $2,300 zone and consolidate there to withhold overbought conditions. Extending beyond this point, $2,800 will be a key target, representing the high of the downward channel. Any turn back below $1,950 (4H MA) would compromise the bull case. Levels of interest for ETH trading: Support Levels: $1,700 to $1,800 pre-bounce 2025 key support (testing) $1,744 February 6 lows $1,380 to $1,500 2025 support 2025 lows: $1,384 Resistance Levels: $2,100 to $2,300 June war support now key pivot (soon testing) $2,500 to $2,800 June 2025 pivotal resistance $3,000 to $3,200 major momentum pivot (test of the $3,000) $4,950 current new all-time highs Solana (SOL) 4H Chart and Technical Levels Solana (SOL) 4H Chart, February 25, 2026 – Source: TradingView Solana has formed a triple bottom and will now aim to break its past Sunday's $91.32 highs. Above this, the only concrete resistance is $105, which coincides with its bear channel highs. If it does break this zone, Solana has a strong potential for a swift turn higher towards $150. Levels to keep on your SOL Charts: Support Levels: $76 to $82 major 2022 pivot $69 February lows $50 psychological level Resistance Levels: $91.42 intraday resistance level (15 Feb highs) $105 channel high resistance (bullish above) Momentum pivot $115 to $120 (bullish above) $125 to $130 2026 base resistance $140 to $150 major resistance $253 cycle highs Safe trades! Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.

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