Bitcoin’s Ballet: Crypto Stocks Pirouette as AI Fears Waltz Away

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Markets

What to know:

  • Bitcoin, that fickle prima donna, pirouettes in the $67,000 spotlight, her thousand-dollar swings a mere flirtation with chaos.
  • Gold, the eternal matron, reclaims her $5,000 throne, while oil, the fiery tempest, leaps as Polymarket whispers of war with Iran-a 50% chance before the ides of March.
  • Crypto stocks, those sprightly courtiers, outdance their stagnant cryptocurrency masters, a jest in the grand ballet of finance.

Bitcoin, poor soul, cannot decide whether to ascend to the heavens or plunge into the abyss. In the early hours of Wednesday’s U.S. session, she darts like a moth to the flame, only to be snuffed out just as swiftly. Above $68,500 she soars, then tumbles below $67,000, a tragic heroine in a farce of her own making. Buyers, those ever-hopeful suitors, rush to her aid, propelling her to $68,300, but the bounce is fleeting-a kiss on the cheek before she retreats once more.

Ether, her faithful companion, follows suit, dipping below $2,000, a mere 1% down over 24 hours, yet still a shadow of her former glory.

The crosscurrents, ah, the crosscurrents! Traditional markets, those staid old gentlemen, offer a steadier hand. Risk assets, once trembling at the specter of AI disruption, now breathe easier. The iShares Expanded Tech-Software ETF (IGV), a barometer of the software sector’s anxieties, bounces 1.9% in morning trading-a sigh of relief, perhaps, or merely a pause in the melodrama.

The Nasdaq, ever the optimist, rises 1.3%, while the S&P 500 gains 0.85%, a modest smile in a world of frowns.

But ah, the geopolitical jitters! The U.S. and Iran, those star-crossed rivals, edge closer to the precipice. Polymarket, that oracle of uncertainty, now gives more than 50% odds of U.S. strikes before March 15-up from 30% just a day ago. Gold, ever the safe haven, climbs 2.5% to reclaim $5,000, while silver surges 6%. U.S. crude oil, that fiery harbinger, jumps 3% to above $64 a barrel, a reminder of the fragility of it all.

Yet, in this maelstrom, crypto-related equities find their rhythm. Coinbase (COIN), Circle (CRCL), and Galaxy (GLXY) rise 3%-5%, a defiant flourish in the face of chaos. Miners and AI-linked data center plays, those unsung heroes, outshine them all-Riot Platforms (RIOT) and IREN (IREN) gain 5.5%, a triumph of hope over experience.

And so the dance continues, a ballet of greed and fear, of uncertainty and resilience. Bitcoin, that enigmatic star, remains center stage, her every move a riddle, her every swing a joke at our expense. The markets, ever fickle, ever dramatic, play on-a grand opera with no final act in sight.

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2026-02-18 20:00