Key Takeaways
- Bitcoin slipped 1.5% Friday, settling around $67,766 while preserving a modest 0.6% weekly increase amid range-bound trading
- Analysts describe Thursday’s drop as a leverage flush rather than a fundamental trend reversal, with buying pressure returning by Friday morning
- Major altcoins outpaced Bitcoin for the week — Cardano surged 7%, Solana jumped 5.5%, Ethereum climbed 4.8%, BNB increased 4.3% — though XRP dipped 0.1%
- Nvidia (NVDA) shares plunged 5.5% after earnings release, pressuring U.S. stock futures and pulling crypto markets down with broader risk assets
- Asian equity indices are tracking toward their best February since 1998, drawing capital away from U.S. markets
Bitcoin faced selling pressure Friday as U.S. stock index futures declined following a sharp drop in Nvidia shares. The cryptocurrency’s weakness mirrors broader risk-off sentiment permeating global financial markets.
BTC traded around $67,766, marking a 1.5% decline for the day. Despite this pullback, the premier digital asset holds onto a 0.6% gain for the week.
Ethereum shed 1.5% in the past 24 hours, hovering just above $2,047. Both major cryptocurrencies remain confined within narrow trading ranges established after the Feb. 5 market downturn.
Nvidia shares dropped 5.5% Thursday evening despite beating fourth-quarter earnings expectations. The sell-off appears to reflect investor concerns about whether elevated AI spending can justify current valuations.
Cryptocurrencies followed equity market weakness as traders pulled back from riskier assets. This correlation has remained intact for weeks, with Bitcoin showing pronounced sensitivity to Nasdaq performance.
“Bitcoin is currently trading like a traditional risk asset,” noted Daniel Reis-Faria, CEO of ZeroStack. “The Nasdaq pulled back after Nvidia reported earnings, and crypto markets followed suit.”
He framed the drop as a technical flush rather than a meaningful directional change. “There was significant leverage built up during the recent run, and when stocks decline, crypto often becomes the first place traders de-risk.”
By Friday morning, hourly crypto returns had flipped positive. This rebound suggests fresh buying demand emerged after overnight liquidations cleared excess leveraged positions from the market.
Altcoins Outperform Bitcoin on Weekly Basis
Cardano led major cryptocurrency gains with a 7% weekly advance. Solana climbed 5.5%, Ethereum added 4.8%, and BNB rose 4.3%, all outperforming Bitcoin’s weekly performance.
XRP stood alone among major tokens with negative seven-day returns, falling 0.1% for the week and 3.7% in the last 24 hours. This underperformance stands out given that most altcoins navigated the same macro headwinds while maintaining gains.
Stock Futures Weaken Amid Asia Capital Flows
Dow futures dropped roughly 0.6%, S&P 500 futures slipped 0.4%, and Nasdaq 100 futures fell 0.3% in Friday’s pre-market session.
Asian equity markets are on track for their strongest February performance since 1998. South Korean tech stocks have soared roughly 20% this month as investors favor AI infrastructure plays.
The MSCI Asia Pacific Index looks poised to outperform the S&P 500 for a third straight month. This geographic shift has diverted investment capital from U.S. exchanges.
Block shares jumped more than 23% in extended trading after CEO Jack Dorsey disclosed plans to cut nearly 50% of staff, citing artificial intelligence’s ability to transform operational efficiency.
Investor focus now turns to Friday’s producer price index data, with economists forecasting a 0.3% monthly rise in both headline and core wholesale inflation measures.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
