Bitcoin has declined 46% from its October peak, CryptoQuant data show. The largest holders continue to deposit to exchanges, with these inflows presumably intended for selling, CryptoQuant said.

On Feb. 20, 2026, institutional Bitcoin products recorded a combined net outflow of $165.8 million, with BlackRock's IBIT posting $164.1 million and Grayscale's GBTC registering $1.7 million. The outflows indicate selling surpassed new inflows, easing the prior supply crunch and adding liquidity to the market.

Bitcoin selling pressure is easing even as large holders continue moving coins to exchanges, CryptoQuant data show. Whales are still depositing Bitcoin on exchanges while overall selling intensity moderates, according to the analytics firm.

A Bitcoin liquidation heatmap shows short positions face approximately $4.3 billion in cumulative liquidation exposure clustered between $70,000 and $72,000, while long positions have substantial support near $60,000. The data suggest that reclaiming the $68,000 level could draw prices toward $71,000, potentially triggering a significant short squeeze in that zone.

Large Bitcoin addresses increased their holdings by more than 30,000 BTC this week. The accumulation reflects aggregate additions by whale wallets during the period.

Crypto market sentiment has deteriorated sharply in recent weeks, with some analysts forecasting Bitcoin could slide a further 85% to around $10,000 as the total market trades at $2 trillion, or 44% below its October record, DL News reported on Feb. 20. Google searches for "is Bitcoin dead" have climbed since the start of the year, the Bitcoin Fear and Greed Index has fallen to levels last seen in 2019, and over $10 billion has been withdrawn from Bitcoin and Ethereum exchange-traded funds since October, DefiLlama data show. Eurointelligence director Wolfgang Münchau argues Bitcoin is struggling to establish a clear narrative between tech and safe-haven asset status, while prominent industry figures such as Arthur Hayes, Tom Lee and Michael Saylor remain bullish on future crypto rallies despite the broader weak environment.

Bitcoin whale Garrett transferred 6,318 BTC worth $424.86M to Binance. The large holder executed the deposit to the exchange. The movement brought 6,318 BTC onto Binance's platform.

Bitcoin and Ethereum have posted their steepest January-February decline in a decade, with both assets falling roughly 25% since Jan. 1, Fortune analysis shows. Bitcoin is trading near $67,000, while Ether hovers just under $2,000.

Bitcoin rose following a U.S. Supreme Court ruling against tariffs from the Trump administration. The price movement in the leading cryptocurrency coincided with the court's decision, reflecting how major U.S. policy and legal developments can align with shifts in crypto market sentiment.