Bitcoin slides Friday as risk-off mood persists, but majors hold weekly gains

Markets

Share

Share this article

Copy linkX (Twitter)LinkedInFacebookEmail

Bitcoin slides Friday as risk-off mood persists, but majors hold weekly gains

Analysts say the latest drop appears to be a leverage flush and positioning cleanup rather than a structural trend reversal

By Shaurya Malwa

Feb 27, 2026, 5:05 a.m.

Make us preferred on Google

What to know:

• Bitcoin and major cryptocurrencies slipped alongside U.S. equities after Nvidia’s earnings-fueled pullback, though Bitcoin remains slightly positive for the week and confined to a tight trading range.
• Analysts say the latest drop appears to be a leverage flush and positioning cleanup rather than a structural trend reversal, with buyers stepping back in after overnight selling.
• Altcoins have generally outperformed Bitcoin on a weekly basis, with Cardano, Solana, Ethereum and BNB posting solid gains even as XRP lags, underscoring that risk appetite in crypto persists amid shifting global equity flows.

Bitcoin and the broader crypto market headed into Friday on the back foot, with most major tokens posting losses over the last 24 hours as traders continued to de-risk alongside equities following Nvidia's earnings-driven pullback.

Bitcoin was trading around $67,766 at the time of writing, down 1.5% on the day but still clinging to a 0.6% gain on the week. Ethereum mirrored the move, off 1.5% in 24 hours to trade just above $2,047. Both remain stuck in a narrow range that has defined price action since the Feb. 5 crash, with Wednesday's push toward $70,000 marking the upper boundary and this week's lows testing the middle.

The selling pressure, however, looks more like a leverage flush than a structural breakdown. Hourly returns across the board were green Friday morning, meaning the bulk of the drawdown happened overnight and buyers have quietly stepped back in at these levels.

"What you're seeing right now is Bitcoin trading with the broader risk market," said Daniel Reis-Faria, CEO of ZeroStack. "Nasdaq fell after Nvidia earnings, and crypto followed. Bitcoin pushed closer to $70,000 pretty quickly, and when momentum in equities stalls, that fast money comes off just as quickly in Bitcoin."

Reis-Faria sees the move as positioning cleanup rather than a trend reversal. "A lot of leverage came back into the system on that push higher, and when stocks start selling, crypto is usually the first place people de-risk. Volatility is elevated because liquidity is tight across the board."

Zoom out to the weekly chart and the picture looks considerably healthier. Cardano led major assets with a 7% gain over seven days. Solana added 5.5%, Ethereum 4.8%, and BNB 4.3%, all outpacing Bitcoin's comparatively modest weekly return and suggesting altcoin appetite remains intact beneath the surface noise.

XRP was the notable exception, down 3.7% in 24 hours and the only top asset in the red on a 7-day basis at -0.1%. The underperformance stands out given that most altcoins absorbed the same macro headwinds without giving back weekly gains.

The broader macro backdrop adds context. Asian equities are on track for their best February since 1998, led by South Korean tech names up roughly 20% this month as investors rotated into AI infrastructure plays.

That rally has drawn capital away from U.S. markets, with the MSCI Asia Pacific Index set to outperform the S&P 500 for a third consecutive month.

For crypto, the throughline is the same one it has been for weeks. "We're still in the same range we've been in," Reis-Faria said. "Until we see consistent new demand, these moves are going to keep happening. Bitcoin trades like a macro asset. When equities pull back, Bitcoin pulls back."

More For You

Analysis: Block’s retreat to 2019 scale could be a hint of deeper shifts in payments economics

By Sam Reynolds|Edited by Omkar Godbole

1 hour ago

While Jack Dorsey cites AI-enabled productivity gains as the reason for Block's cuts, the deeper shift is in payments plumbing: stablecoin settlement threatens to compress the fee stack that fintech acquirers have relied on for years.

What to know:

• Block is slashing its workforce to about 6,000 employees, down nearly 40% from 2023 levels and close to its pre-pandemic size, as investors reward a sharp cost reset.
• While Jack Dorsey cites AI-enabled efficiency for the cuts, the deeper challenge is that stablecoin-based payment rails threaten to compress the card fees that long powered Block’s growth.
• As AI “agentic shopping” and regulatory advances make stablecoins more viable for everyday payments, Block faces structural margin pressure even as its stock remains about 80% below its pandemic-era peak.

Read full story

Latest Crypto News

Analysis: Block’s retreat to 2019 scale could be a hint of deeper shifts in payments economics

1 hour ago

World Liberty Financial ties voting power to staking as USD1 supply tops $4.7 Billion

1 hour ago

U.S. regulator's GENIUS pitch casts dark cloud over crypto sector's stablecoin model

7 hours ago

Bitcoin Miner MARA jumps 17% after striking a deal with Starwood to build AI data centers

7 hours ago

Grant Cardone plans to tokenize his firm's $5 billion real estate portfolio

8 hours ago

Here is why Ethereum's bold new plan could make the blockchain giant high-speed 'internet of value' by 2029

9 hours ago

Top Stories

Here is why the wild accusations of Jane Street rigging bitcoin price may not be true

19 hours ago

Crypto investigator ZachXBT alleges trading platform Axiom's employee conducted insider trading

15 hours ago