On February 23, 2026, Bitwise Invest CIO Matt Hougan countered Sevens Reporter founder Tom Essaye's criticism of Bitcoin, arguing it is still in an early store-of-value phase. Hougan projected that by around 2050, every central bank could own Bitcoin much like gold, even as BTC currently trades about 40% below its October all-time high of $126,000. Essaye, by contrast, dismissed Bitcoin as a speculative asset that neither replaces gold nor serves as a reliable hedge against inflation or market turmoil.

Strategy executed its 100th Bitcoin purchase, adding 592 BTC for about $39.8 million and lifting its holdings to 717,722 BTC. The transaction, disclosed in a US SEC filing on Monday, was funded by selling 297,940 Class A shares via an at-the-market program, with the new coins bought at an average $67,286 per BTC.

According to crypto analyst Kevin, in recent years Bitcoin has aligned more with software stocks than with any other market. Market watcher Super฿ro sees a bullish setup but warns of a possible bear pennant that could target below $50,000, while holding recent lows could open a recovery toward the $70,000 range. CW adds that an IFP golden cross over the 90-day moving average may signal upside.

Corporate Bitcoin treasury firms have recorded three straight weeks of net selling, while BTC trades near $66,191 and US spot Bitcoin ETFs see persistent outflows. Analysts warn that continued selling and weak fund inflows could drag Bitcoin toward prior bear market levels, though some view the drawdown as a healthy reset of leveraged positions.

Bitcoin briefly traded under $65,000 on Monday after a proposal by US President Donald Trump to lift global tariffs to 15%, while an analyst now places the market in a late-cycle stress phase. Based on this six-stage roadmap, the current sideways period could eventually give way to a capitulation leg, with revised potential downside targets between $35,000 and $45,000 amid deteriorating liquidity conditions.

Bitcoin slipped after a rejection near $70K, with sellers driving price below recent daily lows. The analysis points to consolidation between the $60K support and $75K resistance, while a breakdown from a 4‑hour triangle shifts focus to $62K–$65K and the $69K–$70K liquidity cluster.

Over the weekend, Bitcoin fell below $65,000 before stabilizing on Monday, while Polymarket showed a 72% probability of BTC dropping under $55,000 with $1.2 million in volume. Bitcoin market capitalization decreased to $1.31 trillion, ranking 15th globally, and traders also priced 61% and 47% odds for dips below $50,000 and $45,000.

In the latest weekly Commitment of Traders report, technical analyst Tom McClellan highlights that non-commercial traders in Bitcoin futures have swung decisively toward net long exposure, a shift he describes as happening "with some urgency." He argues that, given the limited presence of traditional commercial hedgers in Bitcoin, these large speculators effectively act as the smart-money group, and that prior extreme readings in this cohort have aligned with significant market outcomes. McClellan stresses, however, that these COT extremes represent a market condition rather than a precise trading signal, even as Bitcoin changes hands around $65,663.