The leading cryptocurrency correlates with tech stocks and behaves like a high-risk asset. Analysts at market maker Wintermute have attributed the market’s stagnation to a shift in the macroeconomic regime.
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— Wintermute (@wintermute_t) February 24, 2026
Following a wave of liquidations, Bitcoin has repeatedly failed to hold above $70,000. The weak buyer response to declines indicates market participants’ uncertainty. Liquidity remains low, experts noted.
Ethereum dipped below the psychological level of $1,900. Specialists identified $1,600 as a real support zone.
Institutional demand has not recovered despite price stabilization. Outflows from spot ETFs continue. In the derivatives market, open interest has been falling since October, with participants preferring to buy put options to protect portfolios. A brief surge of interest from major investors in altcoins quickly faded.
According to Wintermute, the market is undergoing structural changes. The influence of the Fed has diminished: the regulator cannot ease policy due to persistent inflation and cannot raise rates due to economic slowdown.
Currently, two main factors are driving the market:
- Reassessment of the AI sector. Investors are skeptical about the profitability of artificial intelligence technologies, and growth multipliers are decreasing.
- Deglobalization. Trade tariffs have become permanent, supply chains are fragmenting, and raw material costs are rising.
Capital is shifting from growth stocks to defensive and tangible assets: gold, industry, and the defense sector.
Under current conditions, cryptocurrencies are losing ground alongside the tech segment. The market perceives digital assets as too risky.
The main question for the crypto industry in 2026 will be the durability of this macroeconomic shift. If the trend towards deglobalization and stagflation persists, Bitcoin will continue to face pressure. Should risk appetites return, the market is poised for recovery, Wintermute concluded.
On February 24, the price of the leading cryptocurrency hit a local low around $62,800.
