As of February 18, 2026, Bitcoin is navigating a critical technical landscape where a daily close below $65,000 could significantly heighten the risk of a deeper plunge.
The $65,000 Pivot Point
Analysts indicate that while $65,000 serves as minor psychological support, it is the last major line of defence before a much more significant floor at $60,000.
Bearish Breakout: A decisive close below the $65,000 level would confirm a bearish breakout from the current consolidation range, likely accelerating momentum toward $60,000.
The "Danger Zone": If the $60,000 level fails to hold, technical targets shift even lower, with some analysts highlighting $56,625 or even $50,000 as potential outcomes of a sustained sell-off.
Current Sentiment: The market is currently characterized by "Extreme Fear," with the Fear & Greed Index hitting levels not seen since the 2022 FTX collapse.