U.S. spot Bitcoin ETFs recorded a fifth consecutive week of net outflows in the week ending Feb. 20, with about $316 million withdrawn. Midweek redemptions of $105 million, $133 million and $166 million outweighed Friday’s $88 million inflows, while cumulative net inflows since January 2024 remain near $54 billion.

Over the weekend, NBA Hall of Famer Scottie Pippen reignited a discussion on Bitcoin's market structure, prompting veteran trader Peter Brandt to outline a $250,000 BTC target for 2029. Brandt bases his view on a multi‑year, curved "banana" growth channel that has framed Bitcoin's price since 2012 and places the current market in the mid‑range after a peak near $92,000 in January 2026. He argues that if Bitcoin continues to track this logarithmic corridor, the upper boundary could move into the mid‑six‑figure zone by the end of the decade.

According to aggregated 13F regulatory filings, institutional investors reduced their U.S. spot Bitcoin ETF exposure from 532K BTC in Q3 2025 to 513K BTC in Q4 2025, a decline of about 3.5%. This modest cutback came as BTC fell 23% and slipped below the reported $84.1K average ETF entry price, leaving the average ETF holder roughly 20% in loss at a BTC price of $68K.

Bitcoin is retesting a major resistance band between $68,300 and around $69,800 on the daily chart, after previously being rejected there. The bullish structure remains intact as long as price holds above the nearby $66,194–$66,956 support, while a break below could open the way toward the $64,535–$62,592 zone. A decisive daily close above the $68,300–$69,867 area would indicate stronger upside momentum and raise the probability of a move to new local highs.

Economist Timothy Peterson said 50% of Bitcoin's past 24 months were positive and argued this implies an 88% chance the asset will be above its current level by December. BTC traded at $68,173 at publication, while Polymarket odds put November at 18% and December at 17% for 2026's best month, and the Fear & Greed Index registered 9.

On 20 February, Bitcoin rose 1.52% but still failed to clear $70k after a Supreme Court tariff ruling and a hotter PCE reading. Roughly 10 minutes before the U.S. Q4 GDP release, a whale-linked wallet moved $335 million in BTC; the print came at 1.4%, spotlighting fragile support.

On Feb. 20, the U.S. Supreme Court ruled that President Donald Trump's IEEPA-based tariff program was illegal, jeopardizing an estimated $133.5 billion to roughly $179 billion in collected duties. Depending on how quickly refunds are processed and whether they are funded from Treasury cash balances or new bill issuance, the resulting liquidity shifts and deficit optics could shape both Bitcoin's liquidity backdrop and its anti-fiat narrative.

At the beginning of February, Bitcoin's price slid to its lowest level since Donald Trump was elected US president in November 2024, a move linked to heavy leverage in the BTC market. Over the past week, on-chain data shows a substantial deleveraging on Binance, with the Estimated Leverage Ratio falling by about 28% from roughly 0.1980 to 0.1414. Bitcoin now trades near $67,950, up almost 2% in 24 hours but still slightly lower on the weekly chart, as analysts say the market needs fresh spot demand to rebuild a durable uptrend.