Over the past two days, Bitcoin rebounded from a low of $64,758 to reclaim the $68,000 area, triggering a short squeeze that wiped out more than $370M in leveraged positions. As BTC flipped the $66,000 zone into support, Circle reported revenue rising 77% to $770M while NEAR Protocol outperformed with a 17% gain following its "Confidential Intents" launch.

On February 25, U.S. spot Bitcoin ETFs drew more than $506 million in daily inflows, the strongest reading since February 2, with weekly totals above $760 million. BlackRock added $297 million and Grayscale just over $102 million, while the crypto market rose 6.5%, reclaiming about $140 billion and lifting Bitcoin to around $68,000.

A prolonged phase of Bitcoin miner stress appears to be approaching its conclusion, as the Hash Ribbon indicator moves toward a recovery crossover after roughly three months of capitulation. With BTC trading below an estimated production cost near $68,000 and key support forming around $60,000 to $69,000, conditions suggest a potential price floor, though further miner selling remains possible if profitability does not improve. The indicator’s behavior now resembles past cycles that preceded major rallies, raising the prospect of a post-capitulation rebound if price momentum aligns.

On 26 February 2026, Indiana lawmakers approved HB1042, a bill to safeguard Bitcoin usage, prohibit discriminatory taxation of digital assets, and allow them in state retirement portfolios. The measure now awaits the governor's signature. Bitcoin traded near $68,437 around the announcement.

According to Google Trends, global searches for "how to buy Bitcoin" have climbed to their highest point in five years, signaling a renewed wave of curiosity from retail users. The rise in beginner-focused queries follows a recent spike in searches for "Bitcoin going to zero," highlighting mixed sentiment around BTC. Bitcoin is trading at $68,301.76, up 4.2% on the day and 2% over the past week, while remaining down 22.4% for the month.

According to an analysis discussing spot Bitcoin ETFs, the current ETF structure and the role of Authorized Participants may be muting the asset's price reaction despite institutional interest. Large financial institutions can hedge with futures and use OTC sourcing, which eases supply shocks and smooths price discovery instead of driving sharp rallies. As a result, Bitcoin's market behavior appears more stable but still cautious, with buyers trying to hold key support zones without clear renewed upward momentum.

On February 25, Hut 8 reported Q4 and full‑year 2025 results, with revenue rising 179% year over year to $88.5 million but coming in below an approximately $95.6 million consensus. The company posted a $301.8 million net loss, driven largely by a $401.9 million non‑cash Bitcoin revaluation, while gross margin improved to 60% as AI and compute contributed 92% of Q4 sales.

Crypto market capitalization rose 3.7% by roughly $120 billion to $2.43 trillion as BTC approached $70,000 before sliding to $68,000. On February 25, 2026, Santiment flagged renewed FOMO, while analysts debated a bull trap versus a relief rally, citing a Binance Fund Flow Ratio of 0.012.