On Friday, Bitcoin fell below $65,500 as U.S. wholesale inflation and equity jitters intensified. Analysts cut U.S. stocks to neutral on overvaluation, a weaker dollar and policy risks, while the 10-year yield slid to 3.97% from 4.21% over three weeks, sparking rotation talk toward BTC.

On 23 February 2026, Minnesota Representative Erin Koegel introduced HF 3642, a bill that would prohibit all physical cryptocurrency kiosks in the state and close about 350 licensed Bitcoin ATMs. The proposal follows reported losses of roughly $540,000 from 70 kiosk-related complaints in 2025, mostly involving scams targeting seniors, and would repeal earlier 2024 safeguards viewed as ineffective.

On February 26, TeraWulf Inc. reported fourth-quarter results that missed expectations, with revenue at $35.8 million versus $44.1 million forecast and a $1.66 loss per share. Management highlighted pressure from Bitcoin's decline and noted AI/HPC leasing revenue increased to $9.7 million while mining revenue fell to $26.1 million.

Bitcoin is registering a familiar bottom signal as the supply-in-profit/loss ratio returns to zones seen at past capitulations. Analysts differ on the path ahead: Willy Woo cites weak spot and futures liquidity and maps outcomes from a typical floor near $45,000 to stress-driven $30,000, with $16,000 only under severe macro shifts. BTC trades at $65,928.14, down 1.7% daily and 26.3% over the past month.

Ledger CTO Charles Guillemet warned that Elliptic Curve Cryptography underpinning blockchain keys could be compromised by sufficiently powerful quantum computers, and said preparation must begin well before such capability arrives. On February 27, 2026, he described post quantum experiments inside secure elements, while experts caution that about seven million BTC, including roughly one million linked to Satoshi Nakamoto, could be exposed.

Bitcoin fell to about $65,950 after failing to hold the $70,000 area, while several analysts project the current bear phase could extend into late 2026. Based on on-chain metrics, past cycle durations and exchange reserve trends, they outline possible bottom zones between roughly $30,000 and $45,000, with some models clustering lows around the fourth quarter of 2026.

A Feb. 24 research note argues Bitcoin's familiar four-year bust cycles may be fading, citing lower realized volatility and a larger market. By Jan. 30, 2026, spot ETFs held nearly 1.3 million BTC (~6.4%) and public companies held over 1 million BTC (>5%), suggesting a steadier market structure. The study says this could reduce the odds of deep drawdowns.

Morgan Stanley plans to launch direct spot Bitcoin trading for retail investors on its E*TRADE platform in early 2026, partnering with Zerohash for trading and custody support. The bank will allow clients to buy, sell, and hold Bitcoin within standard brokerage accounts, with additional services such as lending, yield products, and in-house custody expected to follow. Bitcoin recently traded at $66,132 with a 24-hour volume of $43.370B, down 3.00% over the same period.