New York, Feb 26, 2026, 13:20 EST — Regular session.
Bitcoin dropped 2.7% on Thursday to $66,969, after an earlier surge took it as high as $69,783 in the same session. The price dipped to a session low of $66,617.
Despite new money flowing into U.S.-listed spot bitcoin ETFs this week—a crucial prop for prices after February’s turbulence—bitcoin pulled back. Data from Farside Investors showed those ETFs pulled in $506.6 million in net inflows on Wednesday. BlackRock’s IBIT stood out, grabbing $297.4 million. Tuesday saw $257.7 million in net inflows. On Monday, though, the funds lost $203.8 million.
Short covering has come into play, with risk assets perking up after days of steep selling left crypto markets looking fragile. “Improving global risk appetite, stabilizing bond yields, and expectations of more accommodative financial conditions support liquidity-sensitive assets, including crypto,” said Riya Sehgal, research analyst at Delta Exchange. The Economic Times
Ether dropped 3.6% to $1,991.59, pulling back after it had topped $2,100 earlier today. The token is still the second-biggest cryptocurrency by market value.
Crypto-linked U.S. stocks showed a split picture late Wednesday. Coinbase Global slid 6.5%, while shares of Strategy (MSTR) dropped around 5.6%. Investors seemed torn between a recovering bitcoin and caution across the broader equity market.
Still, fragility lingers in the market. CME Group pointed out in a recent note that demand for downside protection in options—those contracts to buy or sell down the line—jumped after the drop from late January into early February. Traders aren’t dropping their guard; they’re still bracing for a possible sharp move.
Friday brings another potential jolt: bitcoin options totaling roughly $10.5 billion expire at the end of the month, a moment that tends to stir volatility as traders adjust or unwind bets. Akshat Siddhant, lead quant analyst at Mudrex, sees $73,500 as the number to watch for evidence of a lasting rally; $65,000, he said, “continues to act as a solid support base.” Business Standard
Traders aren’t just tracking flows and positioning—they’re eyeing fresh U.S. inflation cues that could shake up rate bets. On the radar: the Labor Department’s January producer price index, set for release Friday, 8:30 a.m. ET.
