By Shaurya Malwa
Publication Date: 2026-02-27 05:05:00
Bitcoin and the broader crypto market headed into Friday on the back foot, with most major tokens posting losses over the last 24 hours as traders continued to de-risk alongside equities following Nvidia’s earnings-driven pullback.
Bitcoin was trading around $67,766 at the time of writing, down 1.5% on the day but still clinging to a 0.6% gain on the week. Ethereum mirrored the move, off 1.5% in 24 hours to trade just above $2,047. Both remain stuck in a narrow range that has defined price action since the Feb. 5 crash, with Wednesday’s push toward $70,000 marking the upper boundary and this week’s lows testing the middle.
The selling pressure, however, looks more like a leverage flush than a structural breakdown. Hourly returns across the board were green Friday morning, meaning the bulk of the drawdown happened overnight and buyers have quietly stepped back in at these levels.
“What you’re seeing right now is Bitcoin trading with the broader risk market,” said Daniel Reis-Faria, CEO of ZeroStack. “Nasdaq fell after Nvidia earnings, and crypto followed. Bitcoin pushed closer to $70,000 pretty quickly, and when momentum in equities stalls, that fast money comes off just as quickly in Bitcoin.”
Reis-Faria sees the move as positioning cleanup rather than a trend reversal. “A lot of leverage came back into the system on that push higher, and when stocks start selling, crypto is usually the first place people de-risk. Volatility is elevated because liquidity is tight across the…
