Preface

While Bitcoin and major cryptocurrencies observed a dip in value parallel to the U.S. equities following Nvidia’s earnings-inspired retreat, the overall crypto market retained some stability with weekly gains intact. This article delves into the recent movements within the cryptocurrency realm, elucidating trends, investor behaviors, and market resilience amid global financial shifts.

Lazy bag

Despite market volatility, Bitcoin maintains weekly positivity, indicating steady risk appetite in cryptocurrencies, as altcoins like Cardano and Solana excel.

Main Body

Bitcoin's trajectory, along with that of other major cryptocurrencies, took a downturn in alignment with U.S. equities, especially following a decline attributed to Nvidia's earnings report. Nevertheless, Bitcoin has succeeded in maintaining a slightly positive stance for the week, remaining confined within a narrow trading band. Financial experts suggest that this decline primarily represents a temporary market correction or leverage purge rather than a comprehensive market trend reversal. Overnight selling was efficiently countered by buying activities, indicating robust investor confidence.

Meanwhile, altcoins such as Cardano, Solana, Ethereum, and BNB demonstrated an impressive performance, consistently outperforming Bitcoin on a weekly scale, signifying the prevailing risk appetite in the crypto sector. XRP, however, registered negative returns, highlighting market variability amidst global economic flows. The crypto market's struggle on Friday mirrored a broader market downturn, with traders de-risking their positions following Nvidia’s market impact. At the time this article was penned, Bitcoin stood at approximately $67,766, marking a 1.5% daily decrease while preserving a 0.6% weekly increment. Similarly, Ethereum followed suit, recording a 1.5% drop over the last 24 hours, trading just above $2,047. Both cryptocurrencies have been ensnared in a constricted range, influencing the sector’s price movements post-February 5th crash.

The intensified selling pressure should be perceived as a leverage retraction rather than a fundamental shift. Real-time observations showed an uptick across the board on Friday morning, indicating that most of the selling pressure transpired overnight, with buying forces re-emerging at low levels. "Bitcoin's current trading pattern aligns with the broader risk markets," elucidated Daniel Reis-Faria, CEO of ZeroStack. He further noted that the crypto market's decline followed the Nasdaq’s post-Nvidia earnings fall, showcasing Bitcoin's rapid proximity to the $70,000 resistance and its concurrent retreat alongside stagnating equity momentum. Reis-Faria interpreted this movement as primarily comprised of leverage adjustments instead of genuine market reversal. The upsurge in leverage observed during the previous rally dissipated as equities fell, prompting crypto traders to de-risk. Elevated volatility in the market signifies tight liquidity constraints, requiring participants to exercise caution.

A broader perspective provides further optimism, reflecting a healthier weekly outlook. Key assets like Cardano led the charge with a 7% weekly growth, followed by Solana's 5.5%, Ethereum's 4.8%, and BNB's 4.3% gains, all surpassing Bitcoin's modest returns and underlying an enduring acceptance of altcoins beneath the overarching market noise. Contrarily, XRP posted a 3.7% daily loss, emerging as the sole significant asset presenting negative weekly performance at a deficit of 0.1%. Most altcoins successfully absorbed the significant macroeconomic headwinds without losing ground on a weekly basis.

The wider economic environment provides additional insights. Asian stock indices are poised for their strongest February in 25 years, being driven by a 20% surge in South Korean technology stocks as investors gravitate towards AI infrastructure. This rally has diverted capital from U.S. markets, enabling the MSCI Asia Pacific Index to likely surpass the S&P 500 for the third consecutive month. For the cryptocurrency market, the narrative remains consistent. "Bitcoin continues to trade within its longstanding range," Reis-Faria explained. "These patterns will persist until consistent new demand surfaces, causing Bitcoin’s movements to mirror macroeconomic asset behavior, retracting when equities do."

Key Insights Table

Aspect	Description
Risk Appetite Resilience	Despite fluctuations, investor interest in cryptos remains robust, with altcoins leading weekly gains.
Market Volatility	Market corrections viewed as temporary leverage adjustments rather than a trend reversal.

Last edited at：2026/2/28