According to the analysis, Bitcoin's larger trend remains bearish, with price rebounding from the $60K–$62K demand zone but still below the 100- and 200-day moving averages. On lower timeframes, resistance at $73K–$76K and the broken $75.3K level cap upside. On-chain, LTH-SOPR briefly fell to 0.88 while the monthly average stands at 1.09, signaling early stress rather than full capitulation.

During the current Bitcoin correction, on-chain metrics show a sharp increase in whale-dominated BTC inflows to Binance, while derivatives open interest has been retreating across major exchanges. CryptoQuant contributor Darkfost highlights a jump in Binance’s whale inflow ratio from 0.4 to 0.62 between Feb. 2 and Feb. 15 and notes that open interest has fallen almost every month since the cycle top, with BTC trading around $67,823 at press time. These shifts suggest a broader de-risking phase spanning both spot and futures markets, as large holders and leveraged traders reduce exposure or are forced out by volatility.

Hive Digital Technologies said Tuesday it delivered record revenue of $93.1 million for its fiscal third quarter ended Dec. 31, 2025, a 219% year-over-year rise and 7% higher than the prior quarter. Despite the top-line growth, the miner recorded a $91.3 million net loss tied to accelerated depreciation and non‑cash revaluation adjustments, and reported adjusted EBITDA of $5.7 million.

Strategy has extended its Bitcoin accumulation run to a 12th consecutive week, with Michael Saylor flagging what the firm describes as its upcoming 99th BTC trade. The latest purchase totaled 1,142 BTC for just over $90 million, lifting the company's stack to 714,644 BTC, valued at a little above $49 billion at prevailing market prices. Despite a Q4 loss of $12.4 billion and earlier share price pressure, the firm continues buying below its reported $76,000 average cost while Bitcoin trades around $68,000 after prior declines.

On February 17, 2026, President Donald Trump signaled that a comprehensive U.S. crypto market structure bill is close to passage, after prior Senate efforts had stalled. The proposed framework, which includes S. 3755 and H.R. 3633, would divide responsibilities between the SEC for securities and the CFTC for commodities, and grant exchanges a 180 day provisional registration period once enacted.

On February 17, 2026, trader Willy Woo said on X that Bitcoin may need 15 to 20 years to be embraced as "better gold," noting it still trades as a risk-on, emerging asset. He partly agreed with Bob Loukas on Bitcoin's design advantages, while Robert Kiyosaki the same day warned of an imminent crash and cited holding BTC, ETH, silver and gold.

On-chain data indicates the CryptoQuant Bitcoin Bull-Bear Market Cycle Indicator has fallen sharply into bearish territory, reaching levels last seen at the 2022 market bottom after the FTX collapse. The gauge, derived from the P&L Index and its 365-day moving average and incorporating MVRV, NUPL, and LTH/STH SOPR, suggests the market is approaching an extreme bear phase that has often coincided with cycle lows. Bitcoin is trading around $68,000, about 4% lower over the past week, as this indicator continues to trend deeper below zero.

On 17 February 2026 at 07:55, Bloomberg Intelligence strategist Mike McGlone warned that the crypto drawdown could foreshadow a recession. He outlined a base case of the S&P 500 moving toward 5,600 and Bitcoin near $56,000, with an outside risk of BTC revisiting the $10,000 area amid stretched equity valuations and low 180‑day volatility.