Bitcoin’s Sad Dance with the Dollar: Will It Ever Get a Prom Date?

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The dollar flexed its muscles, leaving Bitcoin sulking in the corner like a teenager who just got stood up. ETFs? More like “Eh-T-Fs” because no one’s buying that party.

Crypto markets took a nosedive on Thursday, proving that even when the stock market throws a rave, Bitcoin is the awkward cousin left sipping punch alone. Bitcoin hovered around $66,700, while altcoins tripped over their own shoelaces, posting losses that screamed, “I’m trying, okay?” Risk appetite in stocks? Sure, but crypto got the “maybe next time” text.

Crypto’s Pity Party Continues as Asia Dances to a Different Tune

According to TradingView, Bitcoin shed 1.7% in 24 hours, while Ether decided to match its energy. XRP, the drama queen of the group, plunged nearly 5%, and Solana lost 4%. BNB and Dogecoin also joined the pity party, proving that misery loves company.

Image Source: TradingView

Meanwhile, Asian stocks were out there doing the electric slide. A regional index (minus Japan) gained 0.5%, Japan’s Nikkei nearly hit 0.85%, and South Korea’s Kospi jumped 3%-because apparently, someone spiked their punch bowl. Nvidia and Meta’s AI chip deal had everyone in tech stocks feeling like prom kings and queens, but crypto? Still in the bathroom crying into its stablecoins.

Crypto tried to bounce back, but sellers were like, “Sit down, Karen, no one cares about your rebound.” Resistance levels? More like “resist-this-is-pathetic” levels.

Institutions Side-Eye Bitcoin Like It’s a Suspicious Tinder Match

The market’s stabilized, sure, but it’s the kind of stability that comes from lying flat on the floor and pretending you’re okay. U.S. spot BTC ETFs saw $133.3 million in net outflows on Wednesday-the third day in a row. Big investors are treating Bitcoin like a first date gone wrong: “I’ll call you,” they say, but we all know they won’t.

Stablecoin market value? Flat. USDT dominance? Nearly 60%. It’s like everyone’s parked their money in the dollar-linked equivalent of a savings account, muttering, “I’m not touching that crypto mess.” Bull phases? More like bull-nap phases, because the energy just isn’t there.

Bitcoin vs. Gold: The Battle of “Who’s the Real Safe Haven?”

The dollar’s strength has Bitcoin feeling like the kid who didn’t get picked for dodgeball. The Federal Reserve minutes dropped, and surprise! No rate cuts. Some officials even hinted at raising rates if inflation keeps throwing tantrums. Higher rates and a strong dollar? Crypto’s worst frenemies.

Gold, on the other hand, is out here living its best life, hitting the gym and getting all the attention. Investors are flocking to it like it’s the last slice of pizza at a party. Alex Tsepaev from B2PRIME Group says gold’s the simple, trusted hedge everyone wants. Bitcoin? Still trying to convince everyone it’s “digital gold,” but right now, it’s more like “digital fool’s gold.”

Tsepaev thinks BTC could bounce back if ETF flows stop acting like a soap opera and U.S. crypto rules stop being written in hieroglyphics. But for now, Bitcoin’s just the high-risk, high-reward friend everyone’s too scared to invite to the cool table.

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2026-02-20 03:17