Bitcoin approached the $60,000 level on Feb. 22 as US Google searches for "Bitcoin to zero" reached an all-time high, data cited by BlockBeats show. The search metric previously peaked near interim market bottoms in 2021 and 2022.

U.S. Google searches for the phrase "Bitcoin to zero" reached an all-time high as Bitcoin's price slid toward $60,000, data show. The metric previously spiked near local market troughs for BTC in 2021 and 2022.

Bitcoin has entered an "extreme fear" phase, with sentiment gauges now weaker than during the Covid market crash and the FTX collapse, crypto market indicators show. The Crypto Fear & Greed Index has fallen deep into the extreme fear zone as panic selling, shrinking liquidity and higher volatility weigh on confidence. Analysts note past episodes of extreme fear in March 2020 and late 2022 were followed by strong Bitcoin recoveries, and some long-term investors view current conditions as a potential buying window, though they caution outcomes are not guaranteed and thorough research and risk management remain essential.

Johann Kerbrat, head of Robinhood's crypto division, said many investors view the current market as a buying opportunity and are increasingly exploring alternatives beyond Bitcoin and Ethereum, Cointelegraph and ChainCatcher report. Kerbrat noted that Robinhood's crypto holders are actively engaging with use cases such as staking and DeFi despite market uncertainty. However, the Altcoin Season Index shows a Bitcoin Season Score of 33/100, indicating the broader market still primarily favors Bitcoin. Separately, U.S. spot Bitcoin ETFs have posted net outflows for five consecutive weeks, with cumulative withdrawals totaling approximately $3.8 billion.

USD/JPY swung from near 160 to around 153.02 on Feb. 12, 2026, putting the yen on track for a weekly gain of close to 3% by Feb. 13, a speed and scale that can trigger margin and VAR cuts and force cross-asset deleveraging that reaches Bitcoin via thinner liquidity, wider spreads and fast position reductions, Reuters and BIS Bulletin No. 90 report. On Feb. 12, Japan's top currency diplomat Atsushi Mimura said Tokyo "has not lowered its guard" against FX volatility and is watching markets with "high urgency" while staying in close contact with U.S. counterparts, Reuters reported. BIS data show yen-denominated loans to nonbanks outside Japan rose to about ¥40 trillion by March 2024, roughly $250 billion using BIS' conversion at the time, and that cross-border yen bank claims on certain offshore nonbank segments exceeded ¥80 trillion before the August 2024 episode, when Bitcoin and Ethereum posted losses of up to 20%.

Bitdeer (BTDR) disclosed its self-held Bitcoin balance, excluding customer deposits, dropped to zero as of February 20. The company mined 189.8 BTC during the week and sold the same amount, resulting in a net outflow of 943.1 BTC.

Timothy Peterson said Bitcoin has an 88% probability of trading above current levels by December if it records positive monthly performance in at least half of the months over a two-year period, based on historical patterns. He tied the share of green monthly closes in that 24-month window to the likelihood of a higher year-end price, identifying the 50% threshold as a key marker for the 88% probability.

Bitdeer, the Bitcoin mining company owned by Jihan Wu, disclosed it has sold all previously held Bitcoin, reducing its holdings to zero. The company said its self-managed Bitcoin hashrate now exceeds that of Marathon Digital Holdings, making Bitdeer the publicly traded miner with the highest self-managed hashrate.

More than $13 billion in Bitcoin short positions could be liquidated if BTC climbs back to $90,000, market data show. The figure highlights potential losses for bearish traders should Bitcoin reclaim that level.