Bitdeer, currently the largest U.S.-listed Bitcoin miner by hashrate, reported this week that its corporate BTC treasury balance dropped to 0 BTC after selling 189.8 newly mined coins and drawing down 943.1 BTC from reserves. In the same window, the company sold a total of about 1,132.9 BTC and announced an upsized $325 million 5.00% convertible notes deal due 2032 alongside a share offering priced at $7.94.

On Feb. 23, Bloomberg Intelligence senior strategist Mike McGlone said on X that Bitcoin's January push toward $90,000 may already be this year's top if market stress returns. He flagged $90,000 as a key 2026 threshold, reiterated a "normal reversion" case to $10,000, sketched a $28,000–$66,000 mean zone, and said holding the mid-$70,000s or breaking below $64,000 could signal whether crypto leads risk assets lower.

At Monday's Wall Street open, Bitcoin (BTC) traded around $66,000 with price targets ranging from a potential drop toward $60,000 to a recovery higher. On-chain and derivatives analysts highlighted repeated sell pressure from U.S. traders, key support near $64,200–$65,000 and resistance up to $68,700. Market participants also focused on newly announced 15% U.S. trade tariffs, viewed by some as an immediate macro catalyst for Bitcoin.

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.