Google data show searches for "Bitcoin is dead" are nearing previous peak levels as crypto market uncertainty mounts. The query historically spikes during downturns or prolonged consolidation, with similar surges recorded in 2013, 2018, and 2022 bear markets. Cointelegraph reported on Feb. 21, 2026, that the recurring pattern of extreme doubt followed by recovery suggests today's search jump may mark another episode in Bitcoin's repeated brushes with "end" predictions, though past performance does not guarantee future results.

Santiment on-chain data show retail wallets holding less than 0.1 BTC have increased their share by about 2.5% since Bitcoin's all-time high last October, reaching the highest supply share since mid-2024, while large wallets holding 10 to 10,000 BTC have decreased by roughly 0.8%, BlockBeats reports on Feb. 21. Bitcoin is currently trading around $60,000. The analysis notes this divergence between retail accumulation and large-holder distribution typically coincides with volatile, directionless price action, with retail demand providing downside support and short-term upside impulse, though a durable rebound would require whales to shift from distribution to net accumulation.

Bitcoin wallets holding less than 0.1 BTC have increased their share of supply by about 2.5% since Bitcoin reached its all-time high last October, marking the highest proportion since mid-2024, on-chain data from Santiment show. Over the same period, addresses holding between 10 and 10,000 BTC saw their combined holdings decline by roughly 0.8%, while Bitcoin's price continues to fluctuate around the mid-$60,000 range. Market sentiment views this retail accumulation as potential bottom support and a driver of short-term momentum, but a more durable rebound would require large holders to shift from distribution to net accumulation, the report notes.

Bitcoin exchange-traded funds recorded over $125 million in net weekly outflows, reflecting institutions reducing BTC exposure amid recent price volatility, Cointelegraph reported on Feb. 21, 2026. The consistent outflows suggest a defensive stance from professional investors navigating shifting macroeconomic conditions, interest rate expectations and liquidity trends. Analysts cited by Cointelegraph noted that longer-term ETF inflows into Bitcoin remain intact, and future inflows could quickly restore confidence if broader financial conditions stabilize.

Small Bitcoin wallets holding less than 0.1 BTC have expanded their balances by about 2.5% since October's all-time high, pushing their share of total supply to the highest level since mid-2024, on-chain data provider Santiment shows. Over the same period, the combined holdings of larger "whale and shark" wallets with 10 to 10,000 BTC have fallen roughly 0.8%, a structural split that analysts say tends to coincide with choppy, range-bound price action around the mid-$60,000 area. Glassnode previously reported its "Accumulation Trend Score" climbed to 0.68 as addresses with 10 to 100 BTC bought the dip near $60,000, while Santiment's broader metrics still show big wallets in net selling mode since October. Market participants cited by CoinDesk say retail demand is present and can offer some downside support and short-term momentum, but sustained recovery would require large holders to halt distribution and ideally move back into net accumulation.

Spot Bitcoin ETFs saw a combined net inflow of $88.04 million on Feb. 20, Eastern Time, SoSoValue data show. BlackRock's IBIT led with a $644.56 million single-day net inflow, bringing its cumulative historical net inflows to $61.303 billion, while Fidelity's FBTC recorded a $23.5857 million net inflow, raising its total to $10.962 billion. As of publication, spot Bitcoin ETFs hold $85.313 billion in net assets, representing 6.3% of Bitcoin's total market cap, with cumulative net inflows since inception reaching $54.013 billion.

Bitcoin exchange-traded funds recorded more than $125 million in net outflows this week. The data show outflows exceeded inflows on a net basis during the period.

U.S. spot Bitcoin ETFs registered $88.1 million in net inflows on Feb. 20, with IBIT contributing $64.5 million, Farside Investors data show. Ethereum ETFs recorded zero flows during the same period.

BTC exchange-traded funds recorded net outflows exceeding $125 million this week, the latest data show. The withdrawals indicate more capital exited these BTC ETFs than entered during the period.