TLDR
- Bitcoin dropped as much as 3.2% to $66,604 on Tuesday, extending a four-week slide
- CryptoQuant’s Fear and Greed Index hit 10/100, deep in “extreme fear” territory
- US Bitcoin ETFs saw $360 million in outflows last week, a fourth straight week of net outflows
- Key support levels are $65,000–$63,000, with analysts warning a break below could push BTC to $52,500
- Harvard trimmed its Bitcoin ETF position while Dartmouth increased its Bitcoin and Ether stakes
Bitcoin is extending a four-week losing streak as weak sentiment, ETF outflows, and macro uncertainty weigh on the market.
Bitcoin fell as much as 3.2% to $66,604 on Tuesday in New York before partially recovering. By late afternoon, the token was trading around $67,547.
The drop mirrors a broader sell-off that has wiped nearly 50% of Bitcoin’s value since its record high in October 2025.
CryptoQuant’s Fear and Greed Index fell to 10 out of 100 on Monday, placing it deep in “extreme fear” territory.
US-listed Bitcoin ETFs recorded $360 million in net outflows last week, marking a fourth consecutive week of withdrawals.
Bitcoin has tended to track tech stocks in recent months. On Tuesday, it mirrored an early dip in US equities but did not recover in line with them.
Uncertainty around artificial intelligence’s economic impact contributed to the volatile session on Wall Street, adding pressure on risk assets including crypto.
Key Price Levels to Watch
Bitcoin is currently trading between the 200-week simple moving average at $68,300 and the 200-week exponential moving average at $58,400. Analysts note that major Bitcoin bottoms have historically formed between these two levels.
All except one of the major $BTC bottoms formed between the 200week MA and EMA.
We’re sitting on top of the EMA right now. pic.twitter.com/F2Ud9HQzCW
— Jelle (@CryptoJelleNL) February 17, 2026
Analyst Rekt Capital warned that without meaningful upside, Bitcoin risks losing the 200-week EMA, which could trigger further downside.
Crypto investor Ted Pillows said Bitcoin needs a daily close above $71,000 to improve the odds of a rally, and that a drop below $66,000 could bring $60,000 back into play.
$BTC has been ranging between $66,000-$71,000 for some time now.
For a rally, Bitcoin needs a daily close above the $71,000 level.
And if a breakdown happens below $66,000; BTC might revisit $60,000. pic.twitter.com/ESJ0YDCcep
— Ted (@TedPillows) February 17, 2026
Glassnode data shows a support cluster between $63,000 and $65,000, where long-term holders recently acquired around 372,240 BTC. A break below that zone could open the path to Bitcoin’s realized price near $55,000.
If $60,000 fails to hold, the next likely target is $52,500, according to current analysis.
Institutional Activity
Harvard University trimmed its position in the iShares Bitcoin Trust ETF (IBIT) in Q4, selling 1.5 million shares. Bitcoin still ranks among Harvard’s largest holdings, behind Alphabet and gold.
Harvard also initiated a new position in the iShares Ethereum Trust ETF (ETHA), marking its first exposure to Ether.
Dartmouth College’s endowment took the opposite approach, increasing its Bitcoin and Ether stakes during the same period.
A US Supreme Court ruling on tariffs expected Friday is being watched closely by traders as a potential near-term catalyst.
The Federal Reserve’s January meeting minutes are also due this week, alongside key US economic data including PCE inflation figures.