Cryptocurrencies Bitcoin, Ethereum, XRP, and Dogecoin experience decrease in value due to increased selling pressure according to analyst.
February 16, 2026
The latest market reports indicated a downward trend for the leading cryptocurrencies including Bitcoin, Ethereum, and Dogecoin, with Bitcoin facing high selling pressure recently. The downward trajectory in the crypto market contrasted with a positive movement in stock futures following a notable decline in consumer inflation.
Bitcoin’s price settled around $68,000 with an 11% spike in trading volume, indicating significant selling pressure in the market. Ethereum, the second-largest cryptocurrency, dipped below $2,000 with an 80% increase in trading volume. Dogecoin was among the top decliners, dropping more than 8% in value.
Recent data showed that approximately $325 million was liquidated from the crypto market within 24 hours, leading to the loss of $240 million in bullish long bets. Bitcoin’s open interest also saw a 2.69% decrease in line with the drop in its spot price. Despite these trends, most retail and whale investors on Binance remained optimistic about Bitcoin, maintaining long positions.
The overall market sentiment was classified as “Extreme Fear” according to the Crypto Fear & Greed Index. Notable gainers within the cryptocurrency market included Beercoin2, SKPANAX, and World of Dypians, showcasing increases ranging from 77.56% to 187.60%.
While the global cryptocurrency market capitalization settled at $2.28 trillion after a 1.07% 24-hour drop, stock futures displayed a positive trajectory. The Dow Jones Industrial Average Futures rose by 37 points, with S&P 500 and Nasdaq 100 Futures also experiencing gains. The recent Consumer Price Index (CPI) data indicated a slowdown in annual consumer inflation to 2.4% in January, below economists’ expectations.
The commodity market similarly experienced fluctuations, with spot gold prices decreasing to $5,021 per ounce. The weaker-than-expected inflation report influenced gold prices, which rallied following the release of the data. The upcoming Presidents’ Day holiday resulted in the closure of the New York Stock Exchange and Nasdaq on Monday.
Market analysts and traders suggested potential scenarios for Bitcoin, with a focus on key resistance levels. Ali Martinez highlighted an Adam & Eve double bottom pattern on Bitcoin’s 1-hour chart, implying a possible breakthrough to $79,000 if price crosses $71,500. Separately, Michaël van de Poppe observed a “classic correction” in Bitcoin’s price, pointing to a CME gap at $69,000 and predicting a return to higher levels following the correction.
Overall, the market dynamics of cryptocurrency, stock futures, and commodities demonstrated volatility and shifts in sentiment, reflecting ongoing fluctuations in global financial markets.
