On February 5 and 6, Bitcoin slipped below $61,000 before rebounding to $66,000–$68,000, while realized losses peaked near $1.24 billion per day and later eased to about $480 million. In early January 2026, USDT supply was about $187 billion and fell under $184 billion by mid‑February, with a 60‑day market‑cap change below ~$3 billion. Some analysts view these extremes and a Fear & Greed low near 5 as potential signs of market exhaustion.

According to the latest CoinShares data, crypto investment products posted $288 million in weekly outflows, marking a fifth consecutive week of redemptions and bringing total withdrawals to $4 billion. Bitcoin led the decline with $215 million in outflows, while Ethereum and Tron also saw institutional selling. In contrast, XRP and Solana attracted modest inflows of $3.5 million and $3.3 million respectively, with Chainlink adding $1.2 million, even as overall market sentiment remained bearish.

Stablecoin issuers are poised to become major buyers of short‑dated U.S. Treasuries, potentially adding $0.8T–$1T of demand by 2028. Market capitalization is projected to approach $2T, with reserve requirements under the July 2025 GENIUS Act concentrating assets in 0–3 month T‑bills. Emerging‑market adoption is expected to drive most of the expansion.

On Thursday, Austria's Financial Market Authority barred KuCoin EU from onboarding new clients or signing new products, citing shortcomings in AML, CTF and sanctions oversight. The action comes months after Austria granted the exchange a MiCA licence, and KuCoin says it has already paused onboarding and begun recruiting to restore key compliance roles.

On February 23, 2026, Novo Nordisk shares fell in premarket trading after the company said CagriSema did not demonstrate non-inferiority to Eli Lilly's tirzepatide in the REDEFINE 4 study. At 5:27 AM EST, NVO traded at $40.99, down $6.43 or 13.56% from the prior close.

Gemini co-founder Tyler Winklevoss has publicly stated he is optimistic at what he describes as peak crypto pessimism, even as filings and market data show mounting challenges for the exchange. SEC documents outline sharply higher operating expenses alongside modest revenue growth and a shrinking market value, while onchain data indicates Winklevoss Capital has cut its Bitcoin holdings by more than half over the past year. Gemini has also announced sizable layoffs, exited multiple regions and reshuffled senior leadership as it pivots toward new regulated products and services.

On 23 February 2026, data attributed to DWF Labs and Memento Research indicated that more than 80% of tokens launched in 2025 are trading under their TGE price, with many falling 50%–70% in the first 90 days. Analysts say these sharp drawdowns on major exchanges are pushing investors toward publicly listed crypto companies, where IPO fundraising has reached $14.6 billion. This shift reflects growing preference for regulated equities and clearer valuation frameworks over the traditional token launch model.

The crypto market slid over the past 24 hours, with total value near $2,26 trillion, down about 2,9%. Bitcoin traded around $65 761 (-3,26% 24h; -4,18% weekly) on $34,7 billion volume, while Ethereum hovered near $1 883 (-4,67% 24h). Indicators show Fear & Greed at 14 and the Altcoin Season Index at 31/100.