$BTC has been under pressure recently, extending a multi-week decline as geopolitical tensions fuel a broader risk-off sentiment across markets. On Tuesday, BTC dropped as much as 3.2% to around $66,604 before recovering slightly, trading near $67,000–$68,000 levels in recent sessions (as of mid February 2026).
This pullback aligns with weakness in equities, where Nasdaq and S&P 500 futures also softened. Traders are closely monitoring escalating tensions in the Middle East particularly around Iran, including naval drills near the Strait of Hormuz and ongoing nuclear discussions which have heightened global uncertainty and prompted a flight to safer assets.
$BTC , often behaving like a high-beta tech proxy in recent months rather than a pure "digital gold" hedge, has mirrored the risk aversion. Additional headwinds include:
- Four straight weeks of net outflows from U.S.-listed Bitcoin ETFs (e.g., $360 million withdrawn last week).
- Renewed concerns over AI's broader economic ripple effects.
- Macro factors like sticky inflation delaying Fed rate cut expectations.
CryptoQuant's Fear and Greed Index has plunged into "extreme fear" territory (around 10/100), reflecting bleak sentiment among participants.
Despite the dip and even as corporate holders like Strategy added to their $BTC positions the market remains cautious. Bitcoin has rejected the $70,000 resistance multiple times this month, with some analysts watching for support near $60,000 if risk-off pressures persist.
In volatile times like these, staying informed on global events and macro flows is key. What are your thoughts on BTC's next move dip buy opportunity or further downside? Share below! 🚀📉
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