Former UK Prime Minister Boris Johnson recently wrote in The Daily Mail that he had long feared Bitcoin was a Ponzi scheme and now believes those fears are confirmed. He argued that BTC lacks intrinsic value, relies on the "greater fool" dynamic, and depends on new investors, even suggesting collectibles like Pokémon cards could be superior investments. However, investigations and economists have concluded that Bitcoin does not fit the formal definition of a Ponzi scheme, emphasizing the absence of a central operator and guaranteed returns.

Bitcoin analyst Willy Woo expects the BTC price to recover toward resistance around $80k–$85k after what he describes as an unusually rapid sell-off. He argues that such a rebound would not confirm a long-term market bottom but could instead form a bull trap within a broader bear-range consolidation, while also highlighting quantum computing as a growing risk to Bitcoin's long-term performance and its 12-year trend versus Gold.

According to CryptoQuant, Bitcoin's short-term holders have recently transferred about 27,000 BTC to exchanges as they seek to lock in gains from recent price moves. With BTC hovering near $67,000 after failing to break $70,000, this profit-taking is adding selling pressure even as the broader market remains resilient and realized price sits around $68,000.

An analyst known as Lofty argues that Bitcoin's recent jump above the $70k resistance to around $71k and then $73k resembles a 2022 bull trap pattern that preceded a steep decline. He claims the largest cryptocurrency could retreat to $45k within 12 days, although other observers view such a deep correction as unlikely and note that even a pullback toward $65k could still qualify as a trap.

On February 28, 2026, Bitcoin derivatives sell volume spiked by $1.8 billion within one hour, according to CryptoQuant, following U.S. strikes on Iran. Analyst Sweep warned the conflict could trigger one of the largest BTC supply events, even as spot prices rebounded to around $66.4k and briefly touched $68k earlier yesterday.

Google Trends data indicates that searches for Buy Bitcoin have surged to their highest level in roughly five years, with interest peaking around February 22. The spike arrives as BTC has fallen 45% over the past four months and dropped as much as 52.15% from its $126.5k ATH before rebounding to about $68k, up 4.5% in 24 hours.

Google data shows that searches for "Bitcoin is Dead" have surged to a record reading of 100 on a relative scale, alongside multi‑year highs for phrases about Bitcoin going to zero. While Bitcoin trades around $68k following a 47% decline since October 2025, some analysts view this spike in pessimistic search interest as a sign of a possible long‑term market bottom, though they do not expect an immediate reversal.

Peter Schiff, chairman of Schiff Gold, tweeted yesterday that Bitcoin may slide toward $20,000 if its long-term $50k support gives way. On February 12, he said the cryptocurrency's "initial support" was around $10k. At press time, Bitcoin was near $68k after a failed move above $70k.

CryptoQuant data shows that over the past 13 months, centralized exchanges have recorded a cumulative $209 billion imbalance favoring altcoin sell orders, while Bitcoin trades around 68.8K. An analyst argues this persistent pressure, despite spot ETFs for assets like XRP and SOL, signals structural weakness and a lack of institutional accumulation rather than a brief market dip.