Amid the capital cycle of AI and DeFi, what can we expect from Bitcoin by the end of February?

A significant change in momentum has been witnessed over the past few days, with AI and DeFi gaining significant attention and trading volumes increasing. Moreover, the prices of the top two cryptocurrencies, Bitcoin and Ethereum, remain within a narrow range. While the value of BTC is struggling to maintain $51,000, the price of ETH is approaching $3,000.

In such a scenario, what can we expect from the flagship cryptocurrency by the end of this month? Will they revive the pre-halving rally and reach ATH, or will they maintain a sideways trend below $55,000?

Market sentiment continues to remain positive despite recent price movements as bulls are making every effort to hold resistance levels. Volumes are still lower than needed, but prices are defending local support, indicating that bulls remain reasonably strong. However, popular analyst Michael van de Poppe believes the price to hit a local high is between $54,000 and $58,000 before the halving, marking a new ATH that is about 35% different from the current one.

In the meantime, altcoins are believed to have a strong range and have indicated their respective targets, which may be followed by harsh corrections. The BTC price hit a yearly high near $53,000 before facing major turbulence as bears quickly leveled back, pushing it past the crucial $52,700 level. The downtrend led the price to test lower support, but a bounce that began early in the trading session reversed the BTC price.

With the rebound, Bitcoin bulls showed their strong presence. However, the current trading setup suggests that the price could eventually fall below $51,000 and retest the lower support zone. In addition to this, the BTC price is believed to trigger a rebound and head towards potential targets between $54,000 and $56,000. However, the price may not reach the ATH of $68,789.63 before the halving and rise after the halving.