Introduction
As of February 13, 2026, the crypto market is entering a critical phase of structural testing. After failing to sustain a bounce in early February, Bitcoin ($BTC$) has dropped to test the $66,000 support level. For traders on your site, the most telling data point isn’t the price itself, but the Coinbase Premium, which has hit a negative $167.8—the lowest reading in over a year.
The “Institutional Pivot”
This negative premium indicates that U.S.-based institutions are leading the sell-off while global retail tries to catch the falling knife. The recent “Software-mageddon” in the tech sector, coupled with stronger-than-expected jobs data, has reduced hopes for early Federal Reserve rate cuts. If Bitcoin fails to reclaim the $68,000 200-week moving average by the end of the week, the path opens to a bearish target of $60,000–$62,000.
Altcoin Vulnerability
While $BTC$ struggles, the altcoin market is seeing a sharper “flush.”
- Ethereum ($ETH$): Down 3.5% this week, testing the psychological $1,950 mark.
- Solana ($SOL$): Remains trapped under a bearish trendline, following the broader rotation out of high-beta assets.
- Trader Tip: With the Fear Index hitting “Extreme Fear” (92), watch for a short-term relief rally if the dollar index ($DXY$) cools off near the 97.00 mark.