Bitcoin Falls Below $67,000 as Losses Broaden Across Crypto

Crypto markets weakened further on Wednesday morning, Feb. 11, extending losses from earlier in the week as selling pressure spread across large-cap tokens and total market capitalization slid 3.6% to $2.34 trillion.

Bitcoin (BTC) is trading around $66,280 at press time, down over 4% in the past 24 hours, with weekly losses at 10%.

Ethereum (ETH) also slipped back below the $2,000 level, down almost 5% on the day and more than 11% over the past week. Losses were broad-based across major altcoins, with BNB down 4.6% in the past 24 hours and nearly 19% on the week, while Solana (SOL) fell close to 6% today.

Markets on Thin Ice

Analysts at QCP Capital warned in a research note today that markets still lack clear rebound confirmation, leaving prices vulnerable to renewed pressure.

The analysts cautioned that sentiment still remains fragile as the Crypto Fear & Greed Index is still deep in “extreme fear,” which the firm described as less a sign of capitulation and more “thin ice that happens to be holding.”

Glassnode echoed the cautious tone. In an X post yesterday evening, the crypto analytics firm said that assuming the early October 2025 all-time high marked the end of the most recent bull phase, this cycle has so far experienced relatively modest drawdowns, comparable to the 2015-2017 market.

Big Movers and Liquidations

Looking at the top-100 assets by market cap, Uniswap (UNI) was the biggest outperformer, surging more than 30% earlier today amid news that financial giant BlackRock made a strategic investment within the Uniswap ecosystem. Provenance Blockchain (HASH) also posted gains of around 6%.

On the downside, MYX Finance (MYX) led losses, plunging more than 30%, followed by Trump-linked World Liberty Financial’s WLFI, down over 8% amid continued risk-off positioning.

CoinGlass data shows roughly $390 million in positions were liquidated over the past 24 hours, with the majority being long positions. Bitcoin accounted for about $157 million and Ethereum roughly $126 million in the past 24 hours, while more than 120,000 traders were liquidated during the period.

ETFs and Macro Conditions

On Tuesday, Feb. 10, spot Bitcoin ETFs recorded their third consecutive positive inflow day, with a net $166.6 million flowing into the products, lifting cumulative inflows to $55 billion, according to SoSoValue data. Total value traded reached $3.38 billion, while total net assets stood at $87.7 billion.

Spot Ethereum ETFs also saw net inflows on Tuesday for the second day in a row, with $13.8 million added, pushing cumulative inflows to $11.8 billion, while total net assets stood at $11.7 billion.

In macro markets, U.S. labor data released today helped ease concerns about a sharp slowdown in employment.

Nonfarm payrolls rose by 130,000 in January, above expectations for a 55,000 increase, according to the Bureau of Labor Statistics. The unemployment rate declined to 4.3%, while a broader measure of labor underutilization slipped to 8%.