Key Highlights
- Bitcoin declined 1.5% on Friday, settling near $67,766, yet maintains a modest 0.6% advance for the week within a confined price channel
- Market experts characterize the downturn as a leverage liquidation event rather than a directional shift, with demand resurging by Friday’s opening
- Alternative cryptocurrencies surpassed Bitcoin on a weekly basis — Cardano climbing 7%, Solana advancing 5.5%, Ethereum gaining 4.8%, BNB rising 4.3% — whereas XRP declined 0.1%
- Nvidia (NVDA) tumbled 5.5% following earnings results, pressuring U.S. index futures and dragging digital assets lower alongside traditional equities
- Asian stock markets are headed toward their strongest February performance since 1998, redirecting investment flows from American exchanges
Bitcoin retreated on Friday as U.S. equity index futures declined in response to Nvidia’s sharp post-earnings slide. The digital asset downturn reflects a wider risk-averse sentiment pervading international financial markets.
Bitcoin changed hands around $67,766, marking a 1.5% daily decrease. The digital currency nonetheless preserves a modest 0.6% weekly advance.
Ethereum decreased 1.5% over 24 hours, settling just beyond $2,047. Both leading cryptocurrencies continue trading within compressed boundaries established following the Feb. 5 market correction.
Nvidia declined 5.5% Thursday session despite surpassing fourth-quarter profit projections. The retreat seemed to signal investor skepticism regarding the sustainability of elevated artificial intelligence investment levels supporting current market valuations.
Digital currencies mirrored equity weakness as market participants reduced exposure to speculative holdings. This correlation has persisted throughout recent weeks, with Bitcoin demonstrating tight correlation to Nasdaq movements.
“The current market action reflects Bitcoin’s behavior as a risk-correlated asset,” explained Daniel Reis-Faria, CEO of ZeroStack. “Following Nvidia’s earnings response, Nasdaq retreated, and cryptocurrency markets moved in tandem.”
He characterized the decline as leverage reduction rather than a fundamental shift. “Significant leverage accumulated during the recent rally, and when equities decline, crypto typically experiences the initial wave of risk reduction.”
By Friday’s early hours, hourly cryptocurrency performance metrics had reversed to positive territory. This recovery pattern indicates renewed buying interest following overnight liquidations that eliminated excessive leverage positions.
Alternative Tokens Demonstrate Weekly Strength Versus Bitcoin
Cardano topped major cryptocurrency performance metrics with a 7% weekly advance. Solana registered a 5.5% increase, Ethereum gained 4.8%, and BNB climbed 4.3%, all exceeding Bitcoin’s weekly performance.
XRP emerged as the sole major digital asset posting negative seven-day returns, declining 0.1% weekly and falling 3.7% in 24-hour trading. This relative weakness contrasted with peer altcoins that withstood comparable macroeconomic headwinds while preserving gains.
Index Futures and International Capital Movement
Dow futures retreated approximately 0.6%, S&P 500 futures declined 0.4%, and Nasdaq 100 futures decreased 0.3% during Friday’s overnight session.
Asian equity markets are positioned for their most robust February showing since 1998. South Korean technology shares surged approximately 20% throughout the month as investors favored artificial intelligence infrastructure companies.
The MSCI Asia Pacific Index appears ready to exceed S&P 500 performance for a consecutive third month. This geographical shift has diverted investment capital from American market venues.
Block shares surged over 23% in after-hours trading following CEO Jack Dorsey’s announcement of workforce reductions approaching 50%, attributing the restructuring to artificial intelligence tools transforming company operations.
Attention now shifts toward Friday’s producer price index release, with economic forecasters anticipating a 0.3% monthly increase in both headline and core wholesale inflation measures.
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