Bitcoin experienced volatility on February 18, 2026, trading in a tight range before dropping to around $66,000 in the U.S. afternoon following hawkish Federal Reserve minutes. Crypto-related stocks initially rebounded but later reversed gains, while liquidations neared $200 million. Geopolitical tensions and macroeconomic uncertainty contributed to the market's choppy performance.
On February 18, 2026, Bitcoin traded erratically during the U.S. session, starting with swings above $68,500 overnight before dipping below $67,000 at the open. Buyers pushed it back to $68,300, but prices settled around $67,000 in late morning, down roughly 2.5% over 24 hours to $66,200 by afternoon. Ether followed a similar pattern, falling below $2,000 and down 2.3% to $1,953. The cryptocurrency held between $65,100 and $72,000 since February 6, with open interest at $15.5 billion and funding rates flat to slightly negative.
Early relief came from cooling concerns over artificial intelligence disruption in tech, boosting the iShares Expanded Tech-Software ETF by 1.9%. Broader markets saw Nasdaq futures up 0.66% and S&P 500 futures up 0.57% initially. Crypto stocks like Coinbase (COIN), Circle (CRCL), and Galaxy (GLXY) rose 3%-5% in the morning, with miners Riot Platforms (RIOT) and IREN up 5.5%. However, sentiment shifted after Federal Reserve minutes from the January FOMC meeting revealed several officials favoring potential rate hikes if inflation persists, strengthening the U.S. dollar index to a two-week high.
This led to reversals: COIN turned a 3% gain into a 2% loss, and MicroStrategy (MSTR) fell 3%. Bitcoin now faces a fifth consecutive weekly decline, testing $66,000 support; a break could target February lows near $60,000. Liquidations totaled $192-$193 million, with longs accounting for $134.6 million, led by Bitcoin at $66.7-$72 million and Ether at $52-$53.7 million. Geopolitical jitters rose, with Polymarket odds of U.S. strikes on Iran before mid-March exceeding 50%, pushing gold to $5,000 (up 2.5%) and oil above $64 (up 3%). The total crypto market cap stood at $2.37 trillion, down 2%, with volume at $88.5 billion. Altcoins like Solana fell 4.5% to $81, while World Liberty Financial (WLFI) surged 18.5%-19% ahead of a Mar-a-Lago forum attended by executives from Goldman Sachs, Nasdaq, and Franklin Templeton. ETF flows showed Bitcoin spot outflows of $104.87 million and Ether inflows of $48.63 million.
