The hidden reason bitcoin didn't rally as gold and silver went berserk

Bitcoin's price action remained lethargic in early February 2026, failing to rally above $90,000 even as gold and silver surged, which later foreshadowed a sharp sell-off to $75,000. According to Keith Alan of Material Indicators, order-book data revealed the hidden cause: persistent sell-side pressure below $90,000, described as "liquidity herding." This tactic involves large entities placing visible sell orders to suppress upside momentum, potentially to accumulate assets at better prices or manage options expiry payouts. Simultaneously, a dense cluster of bids between $85,000 and $87,500 acted as support. When Bitcoin eventually broke below this cluster, selling accelerated rapidly, leading to lows near $74,000–$76,000, a scenario Alan termed a move into "Bearadise."

(Source：CoinDesk)