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Bitcoin price dropped 1.15% to $66,385. Spot Bitcoin ETFs recorded $276.3 million in net outflows, signaling institutional caution in volatile conditions.
Standard Chartered cut its 2026 Bitcoin target to $100,000, warning of possible downside toward $50,000.
US Senate debates over the Crypto Market Structure Bill, dampening Fed Rate cut hopes, and the Political Action Committee, Fairshake, interfering in midterm US elections, create uncertainty in the market.
Crypto prices today are in the red zone as the market struggles to find a bottom in mid-February 2026. Bitcoin slipped below the $67,000 mark. Altcoins followed suit, with most dipping upto 1%. Some coins that bucked this downtrend, giving hope to investors amid today’s volatility, were Tron, Dogecoin, and Cardano. US political moves and dampening Federal Reserve rate cut expectations made investors wary.
The market is maturing through these corrections without the disastrous platform collapses we saw in previous years. The global market cap stood at $2.28 trillion, down by 0.82% at press time. This seems to be a sign of digital assets functioning more organized, like traditional institutional finance.
Here is what happened in the crypto market today based on CoinMarketCap data.
Bitcoin price today dropped 1.15% over the past 24 hours to trade at $66,385.62. Bitcoin's market cap stood at $1.32 trillion with $44.75 billion in trading volume. The leading cryptocurrency fell to $65,000 in early trading hours before climbing back to the current price levels.
Talking about the same, CoinSwitch Markets Desk noted, “Global markets witnessed elevated volatility, with BTC falling to $65,000 alongside weakness in US tech stocks. Softer economic data, including an 8.4% decline in US home sales and higher-than-expected jobless claims, added to the cautious tone. While sentiment remains measured, stabilization near current levels could support a recovery attempt toward the $66,000-$67,000 range.”
XRP price declined 0.94% to $1.36, with a market cap of $82.86 billion. The coin is currently navigating a three-day slide. Despite the short-term price pressure, the institutional narrative for XRP remains notably different from Bitcoin. While Bitcoin spot ETFs recently saw $276.3 million in outflows, XRP ETFs successfully avoided net redemptions for an eighth consecutive session, according to a FXEmpire report. This steady institutional demand, coupled with the potential passage of the Market Structure Bill, keeps the medium-term outlook bullish for many analysts. If XRP can defend the $1 support level, the path remains open for a recovery toward $2.50 or higher as regulatory clarity improves.
Nischal Shetty, Founder of WazirX, commenting on crypto prices today, explained, “On-chain data shows long-term holders still distributing amidst market fears of further downward pressure. Current loss metrics suggest we are in a capitulation phase. Historically, these zones can last months before a real trend reversal begins, which could mean a trickle-down effect on the overall market sentiment towards altcoins.”
The founder of WazirX added, “The macro view is slightly optimistic. Strong US jobs data has pushed rate cut expectations further out. Despite earlier optimism around gold, it has taken a price setback due to the US dollar weakening. The Fed proposing distinct margin rules for crypto derivatives could mean leverage getting tighter. That reduces speculative excess, which was observed in October’s price crash. Meanwhile, the CFTC bringing crypto CEOs into advisory roles is long-term positive towards indicating a fostering regulatory environment.”
US labor market data released on February 12 showed that initial jobless claims fell to 227,000 for the week ending February 7. These are down from 232,000 the previous week. While the figure came in slightly above the 222,000 forecast, they are historically low and signal a resilient job market.
According to the CME FedWatch Tool, the probability of a March rate cut rose only slightly from 6.4% to 7.8%. More importantly, the chances of a June cut increased from 57.6% to 63.9%, but that's still down from 75% on February 5.
Ethereum price today fell 0.87% to $1,949.83. The second-largest cryptocurrency has a market cap of $235.33 billion and recorded $19.64 billion in 24-hour volume. Solana price declined 2.23% to $78.67.
BNB slipped 1.21% to $606.84, while stablecoins USDT and USDC held steady near their $1 peg. Tron gained 0.01% to $0.2784, and Dogecoin bucked the trend with a 0.91% rise to $0.09262. Cardano also posted gains, climbing 1.58% to $0.2621.
Here are the top global cues impacting crypto prices today.
The primary weight on the market is the ongoing debate in the US Senate. SEC Chairman Paul Atkins is advocating for a shift toward clear statutory rules, a move intended to end the ‘regulation by enforcement’ era. On the other side, Senator Elizabeth Warren has voiced concerns that scaling back oversight could lead to increased market risks.
For those following the news closely, the Crypto Market Structure Bill would be in focus today. Its clearance would finally define the boundaries between the SEC and CFTC, potentially removing the ‘no man's land’ that has kept institutional capital on the sidelines for years. An agreement on stablecoin yields would boost expectations that the Senate will pass the bill. Analysts believe that this could fuel renewed demand for cryptocurrencies, particularly XRP.
The crypto industry's super PAC (Political Action Committee), Fairshake, is aggressively deploying its $193 million fund to influence upcoming midterm elections in the US. The group announced $1.5 million in spending to oppose Democratic Representative Al Green of Texas. The representative has consistently voted against crypto-friendly legislation.
Green has frequently raised concerns about potential hazards posed by cryptocurrencies to the US financial system and investors. He co-sponsored a bill seeking to ban President Trump from his personal crypto business interests. Green faces a primary challenge next month from Christian Menefee, who supports blockchain technology.
Fairshake is also spending $5 million to support pro-crypto Alabama Republican Barry Moore in his Senate primary race. It is also backing House Financial Services Committee Chairman French Hill.
This aggressive campaign spending shows the huge influence of crypto in US politics in modern times. The crypto industry views Congressional composition as critical to shaping favorable regulations that could impact crypto prices today and in the future.
Investment bank Standard Chartered has cut its cryptocurrency price targets, citing ETF dynamics and macro headwinds. The firm now expects Bitcoin to fall toward $50,000 in the coming months, with Ethereum potentially bottoming near $1,400.
Geoff Kendrick, the bank's head of digital assets research, pointed to ETF holder behavior as a key factor. With many investors sitting on losses, they're more likely to sell on rallies rather than ‘buy the dip,’ creating downward pressure on prices.
Standard Chartered reduced its year-end 2026 target for Bitcoin from $150,000 to $100,000. Ethereum's forecast dropped from $7,500 to $4,000, while Solana's target fell from $250 to $135. The long-term 2030 projections were maintained at $500,000 for Bitcoin and $40,000 for Ethereum, indicating confidence in the asset class over the longer term.
Bitcoin has dropped almost 23% since the start of 2026 and is down nearly 30% in the past 30 days from its October 2025 peak of $124,000. Despite the bearish short-term outlook, Kendrick notes this downturn is less severe than previous cycles. At its worst in early February, Bitcoin was down about 50% from its October high, with roughly half the circulating supply still in profit.
Also Read: Crypto Market Update: Civil Forfeiture Pushes Seized Assets Toward Restitution in Bitcoin Cases
Crypto prices today showed investor wariness. CoinSwitch analysts noted, “Growing skepticism around the return of AI infrastructure Investments added pressure to tech equities. Even traditional safe assets didn’t hold up; gold slipped around 3%, and silver fell nearly 11%, showing broad risk reduction across markets.” However, the lack of major platform failures during this 30% drawdown is a strong signal that the industry’s infrastructure is hardening. Today’s dip is a reflection of a broader market correction.
Avinash Shekhar, Co-founder and CEO, Pi42, noted, “Bitcoin remains under pressure in after renewed downside warnings by Standard Chartered, with the broader crypto market reflecting cautious sentiment. Ethereum and XRP have also edged lower, extending February’s declines as investors trim exposure amid macro uncertainty and equity market weakness.
Shekhar elaborated, “At the same time, historically important technical levels near the $65,000 zone for Bitcoin price are drawing close attention, as they have previously coincided with longer-term cycle bottoms. While volatility remains elevated and liquidation activity has increased, the defense of these support levels could help steady sentiment and gradually restore investor confidence if macro data eases risk concerns.”
For traders, the key is to watch the mid-June Fed meeting and the progress of the US Crypto Bill, as these will be the ultimate catalysts for a trend reversal.
Also Read: XRP Price Declines Below $1.40 Amid High Trading Activity and Leverage Cools
1. Why is the Bitcoin price falling today?
Bitcoin price is falling due to a mix of ETF outflows, macro pressure, and regulatory uncertainty. Spot Bitcoin ETFs saw $276.3 million in net outflows, showing that some institutional investors are reducing exposure. At the same time, markets are unsure about when the US Federal Reserve will cut interest rates. Higher rates reduce risk appetite, which often hurts crypto prices.
2. Why did XRP drop below $2?
XRP is trading at $1.36 after a 0.94% daily decline. The broader crypto market weakness pulled XRP lower along with Bitcoin and Ethereum. However, XRP ETFs have not seen major outflows, which shows some institutional support remains. Analysts believe the $1 support level is important. If that level holds, XRP could attempt a recovery in the coming weeks.
3. What are ETF outflows, and why do they matter?
ETF outflows happen when investors pull money out of exchange-traded funds. In crypto, this can signal weakening institutional demand. When large investors sell ETF shares, fund managers may sell Bitcoin to balance holdings. This creates extra selling pressure. Recent outflows of over $276 million suggest institutions are cautious about near-term price movement.
4. How is US regulation impacting crypto prices today?
Crypto markets are reacting to debates in the US Senate over digital asset regulation. Lawmakers are discussing the Crypto Market Structure Bill, which would define the roles of the SEC and CFTC. Clear rules could attract more institutional capital. However, uncertainty during the debate phase creates short-term volatility and keeps investors defensive.
5. What is the future outlook for the Bitcoin and Ethereum prices?
Standard Chartered lowered its short-term forecasts due to macro risks and ETF weakness. The bank expects Bitcoin to fall toward $50,000 in the the coming months. Its 2026 target was reduced to $100,000 from $150,000. Ethereum’s 2026 forecast was cut to $4,000. However, 2030 targets remain unchanged, indicating continued optimism.
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