TLDR
- Bitcoin dropped 1.5% Friday to ~$67,766 but holds a slim 0.6% weekly gain, staying in a tight trading range
- Analysts call the selloff a leverage flush, not a trend reversal, with buyers stepping back in by Friday morning
- Altcoins outperformed Bitcoin weekly — Cardano up 7%, Solana 5.5%, Ethereum 4.8%, BNB 4.3% — while XRP lagged at -0.1%
- Nvidia (NVDA) fell 5.5% despite strong earnings, dragging U.S. futures lower and pulling crypto down with equities
- Asian equities are on track for their best February since 1998, drawing capital away from U.S. markets
Bitcoin slipped Friday as U.S. stock futures fell following a sharp decline in Nvidia shares. The crypto selloff mirrors a broader risk-off mood across global markets.
Bitcoin was trading around $67,766, down 1.5% on the day. Despite the drop, it still holds a 0.6% gain on the week.
Ethereum fell 1.5% in 24 hours to just above $2,047. Both Bitcoin and Ethereum remain stuck in a narrow trading range that has held since a Feb. 5 crash.
Nvidia fell 5.5% on Thursday despite beating fourth-quarter earnings expectations. The drop appeared to reflect investor doubt about whether heavy AI spending can continue to justify valuations.
Crypto followed equities lower as traders pulled back from risk assets. That pattern has been consistent for weeks, with Bitcoin closely tracking moves in the Nasdaq.
“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.”
He described the selloff as a positioning cleanup, not 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.”
By Friday morning, hourly returns across crypto had turned green. That suggests buyers stepped back in after overnight selling cleared out excess leverage.
Altcoins Outperform Bitcoin on the Week
Cardano led major assets with a 7% weekly gain. Solana added 5.5%, Ethereum 4.8%, and BNB 4.3%, all outpacing Bitcoin.
XRP was the only top asset in the red on a seven-day basis, down 0.1% for the week and 3.7% in 24 hours. That underperformance stood out given most altcoins absorbed the same macro pressure without giving back gains.
U.S. Futures and Global Equity Flows
Dow futures fell around 0.6%, S&P 500 futures dropped 0.4%, and Nasdaq 100 futures slipped 0.3% in overnight trading Friday.
Asian equities are on track for their best February since 1998. South Korean tech stocks rose roughly 20% this month, with investors rotating into AI infrastructure names.
The MSCI Asia Pacific Index is set to outperform the S&P 500 for a third straight month. That rotation has pulled capital away from U.S. markets.
Shares of Block jumped more than 23% after-hours after CEO Jack Dorsey announced the company would cut nearly half its workforce, citing AI tools reshaping operations.
Eyes now turn to Friday’s producer price index report, with economists forecasting a 0.3% monthly rise in both headline and core wholesale inflation.
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