On a rather uneventful Tuesday, Bitcoin, in a fit of existential crisis, plummeted by more than 2%, settling at the melancholy figure of $67,000. This unfortunate dip coincided with Wall Street’s return from its Presidents’ Day slumber, as if the markets were all collectively waking up from a dream, only to find their favorite shirt had shrunk in the wash.
- The tech and crypto sectors continue to feel the weight of an invisible hand, while defensives appear as mixed as a fruit salad at a poorly attended picnic. Some brave souls, however, are finding fleeting strength in activist-driven and travel stocks.
- With a staggering fall of about 29% over the past month, Bitcoin has ignited a heated debate – is it finally hitting rock bottom, or is there still room for further tragedy in our financial tale?
- “I believe that bitcoin has already capitulated with that big move from 100k to 60k,” remarks one analyst, as if channeling Shakespeare while pondering this modern tragedy.
The cryptocurrency’s malaise coincides with a renewed pressure on technology and software shares, where investors, much like cats watching a laser pointer, are grappling with the unsettling notion of AI-induced disruption. The Nasdaq-100 shuffled downwards, losing 0.3%, while the iShares Expanded Tech-Software Sector ETF tumbled by more than 2.7%, as if someone had pulled the rug out from under its feet. This fund has now experienced declines in 11 of the past 15 sessions, leaving it with nearly 25% losses year-to-date-a statistic that would make even the most stoic investor shed a tear.
Broader equity indices have been largely flat, reminiscent of a pond on a windy day, masking sharp divergences lurking beneath. Financial stocks, akin to a phoenix rising from the ashes, rebounded after weeks of languishing in obscurity, while the poor consumer staples continued to lag behind, perhaps too busy contemplating their life choices.
Travel Tickers
In a remarkable twist, travel-linked shares emerged as a beacon of hope, shining brightly amid the gloom. Norwegian Cruise Line Holdings soared by 11% after Elliott Investment Management decided to take a stake exceeding 10%, signaling plans for strategic changes-because who doesn’t love a good makeover story after prolonged underperformance?
In solidarity, peers rallied like enthusiastic fans at a concert, with Carnival Corp. climbing about 4% and Royal Caribbean Group gaining 3%. Meanwhile, in the realm of leisure, Airbnb Inc. added a respectable 3.7%, extending its momentum from a positively received earnings report. Southwest Airlines Co., buoyed by a wave of analyst upgrades, jumped more than 6%, as if it had discovered a hidden stash of good fortune.
But what about Bitcoin?
Ah, yes-the enigmatic Bitcoin. Having fallen approximately 29% in the last month, it’s the subject of fervent speculation: is this downturn nearing its nadir, or is it merely a prelude to further misadventures?
Trader Altcoin Sherpa, a modern-day oracle, points to past cycles for guidance, observing that both the 2017-2018 and 2021-2022 bear markets saw dramatic plunges of 75-85%, taking nearly a year from all-time high to woeful bottom. Each cycle ended in a grand capitulation, including the infamous 2018 plunge from $6,000 to $3,000 and the 2022 crash linked to FTX, followed by months of accumulation-like waiting for a bus that never seems to arrive.
However, Sherpa posits that this current cycle could be different, suggesting that the 2024-2025 rally has been more akin to a slow waltz than a wild tango. Structural factors such as spot ETFs, reduced speculative excess, and robust support in the $50,000-$70,000 range may very well shorten the bear market timeline, potentially sparing us from a full 365-day decline-a blessing, no doubt, for many weary traders.
“I believe that bitcoin has already capitulated with that big move from 100k to 60k,” Sherpa asserts confidently. “I believe we are now in the ACCUMULATION phase of the cycle. Accumulation can last anywhere from a few weeks to several months.”
For those yearning for more insights, see the full post via the link below.
– Altcoin Sherpa (@AltcoinSherpa) February 16, 2026
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2026-02-17 21:54