Bitcoin's Worrying Slips Down

Author: Alexander Kuptsikevich

Published: February 18, 2026

Overview

Bitcoin is experiencing a downward trend, with its price fluctuating but generally declining. The cryptocurrency market cap has stabilized around $2.34-2.35 trillion, indicating a period of low volatility compared to the more active stock indices.

Market Dynamics

Currently, Bitcoin is trading below its 50-day and 200-day moving averages by 17% and 31%, respectively. This situation suggests a lack of investor confidence, as the cryptocurrency market appears to be less optimistic and more stable, albeit at lower price levels.

Investor Sentiment

The crypto fear and greed index has dropped to 8, indicating extreme fear among investors. This sentiment has been in single digits for nine out of the last fourteen days, reflecting a more pessimistic outlook than during previous market downturns in 2020 and 2022.

Bitcoin Price Movement

As of the end of US trading, Bitcoin's price fell to $66,700 but showed a slight recovery. The correlation between Bitcoin's decline and the strengthening US dollar raises concerns about potential volatility if the dollar's rise is perceived as a trend.

Market Analysis

Recent analysis from Glassnode highlights that Bitcoin's drop to $60,000 has pressured long-term holders, leading to significant sell-offs reminiscent of the Terra (LUNA) collapse in May 2022. Additionally, a net outflow of stablecoins from Binance over the past three months indicates a liquidity squeeze in the crypto market.

Forecast Adjustments

Standard Chartered Bank has revised its cryptocurrency forecasts for 2026, lowering Bitcoin's target from $150,000 to $100,000, Ethereum from $7,000 to $4,000, Solana from $250 to $135, and XRP from $8 to $2.8. Bloomberg Intelligence's Mike McGlone has also warned that Bitcoin could drop to $10,000, signaling a potential recession in the US economy.

Emerging Trends

In a notable development, Polygon has surpassed Ethereum in daily transaction fees for the first time, driven by increased activity on the Polymarket prediction platform. Furthermore, a study by BVNK indicates that stablecoins are increasingly being utilized for payments, salaries, and savings, primarily due to lower transaction fees compared to traditional services.

Conclusion

The current state of Bitcoin and the broader cryptocurrency market reflects a challenging environment for investors, characterized by declining prices, low volatility, and shifting sentiment. As the market evolves, the implications of these trends will be critical for future investment strategies.