Bitcoin drops 3% as analyst warns bulls lack momentum
Bitcoin price drops 3% and signals weakening bullish momentum after failing to reclaim the $69,000 level. Market analysts now question whether buyers have enough strength to push the leading cryptocurrency toward new highs.
On 12 February 2026, Bitcoin (BTC) fell roughly 3% in a single trading session, slipping below a key resistance zone near $69,000. The move followed several days of choppy consolidation and declining spot volume, raising concerns among traders about fading upside momentum.
Bitcoin struggled to sustain bids above the $69,000 level, which many traders viewed as a psychological and technical barrier. Analysts note that repeated rejections at resistance often indicate buyer exhaustion.
One market strategist told Cointelegraph that bulls appear to lack strong follow-through. According to the analysis, open interest in derivatives markets has flattened, while spot inflows have slowed compared to previous breakout attempts.
The combination of lower volume and weaker funding rates suggests that speculative appetite may be cooling. When leverage declines and spot demand weakens simultaneously, upward price momentum typically fades.
Derivatives data often offers insight into market sentiment. In recent sessions, funding rates on perpetual futures have normalized after a brief period of optimism. That shift indicates fewer traders are willing to pay a premium to hold long positions.
Liquidation data also reveals a balanced market. Unlike previous rallies, where short sellers were aggressively squeezed, recent moves show limited forced buying. This lack of pressure reduces the probability of rapid upside acceleration.
Some analysts argue that Bitcoin now trades in a distribution phase. In such a phase, early buyers gradually take profits while new demand struggles to absorb supply.
Despite the short-term pullback, broader macro conditions remain supportive. Institutional interest in crypto products continues, and spot exchange-traded fund flows remain structurally positive.
However, analysts stress that Bitcoin must reclaim and hold above $69,000 to restore bullish confidence. A decisive break above that level, backed by rising volume, could reopen the path toward new all-time highs.
Conversely, failure to defend current support zones may expose the asset to deeper retracements. Technical analysts monitor moving averages and previous breakout levels as potential downside targets.
Bitcoin often sets the tone for the entire digital asset ecosystem. A loss of momentum in BTC can spill over into altcoins, especially high-beta tokens that rely on strong risk appetite.
Traders also watch macroeconomic signals. Interest rate expectations and dollar strength influence capital flows into risk assets, including cryptocurrencies.
For now, the 3% drop does not signal a structural breakdown. It does, however, highlight a key issue: bullish conviction appears weaker than during prior rallies.
Whether this phase represents healthy consolidation or the beginning of a broader correction depends on how quickly buyers return with conviction.
Source: Cointelegraph
BitMine expands Ethereum bet and adds 140,400 ETH worth $282 million
BitMine accelerates Ethereum accumulation strategy and purchases 140,400 ETH valued at $282 million. The move strengthens the company’s position as institutional demand for Ethereum exposure grows.
On 12 February 2026, BitMine Immersion Technologies Inc. announced it had added 140,400 Ethereum (ETH) to its treasury. The acquisition, valued at approximately $282 million, marks one of the largest recent corporate ETH accumulations.
The purchase reinforces a broader trend of companies diversifying digital asset reserves beyond Bitcoin.
BitMine stated that Ethereum’s expanding ecosystem and staking yield potential make it an attractive long-term asset. Unlike Bitcoin, Ethereum supports decentralized applications and smart contracts, which drive network activity and fee generation.
The company aims to benefit from staking rewards while maintaining balance sheet exposure to ETH price appreciation. Staking allows holders to lock tokens and earn network validation rewards.
Management believes Ethereum’s role in decentralized finance and tokenization could fuel structural demand growth.
Large-scale corporate accumulation can influence market sentiment. When public companies add crypto assets to their balance sheets, investors often interpret it as a signal of confidence.
The $282 million addition also reduces available circulating supply. If demand remains steady or rises, reduced supply can support price stability.
Market observers note that Ethereum has attracted renewed institutional attention amid growing real-world asset tokenization and layer-two adoption.
Corporate treasury diversification into digital assets is no longer limited to Bitcoin. Firms increasingly view Ethereum as infrastructure rather than a speculative token.
Companies that integrate blockchain into operations may prefer holding ETH directly. The token plays a functional role in transaction fees and smart contract execution.
BitMine’s move signals that ETH accumulation strategies could mirror earlier Bitcoin treasury strategies. If more companies follow, Ethereum could experience sustained institutional inflows.
However, risks remain. Crypto volatility can impact earnings reports and share prices. Regulatory clarity also continues to evolve in key jurisdictions.
For now, BitMine positions itself as an early institutional participant in Ethereum’s next growth phase.
Source: Cryptopolitan
Deel partners with MoonPay and rolls out stablecoin salary payouts in Europe
Deel expands crypto payroll services and partners with MoonPay to enable stablecoin salary payouts across Europe. The move signals growing demand for blockchain-based compensation infrastructure.
Deel announced a strategic partnership with MoonPay to facilitate stablecoin salary payments for workers in Europe. The initiative allows companies to pay employees and contractors using digital dollar-pegged tokens instead of traditional bank transfers.
The rollout marks a major step in integrating stablecoins into mainstream payroll systems.
Deel integrates MoonPay’s on-ramp and off-ramp services directly into its payroll platform. Employers can fund payroll in fiat currency, which converts into stablecoins for distribution.
Employees receive stablecoins in supported wallets. They can hold, transfer or convert the tokens into local currency.
Stablecoins aim to maintain price stability by pegging value to fiat currencies such as the US dollar. This reduces volatility compared to other cryptocurrencies.
Cross-border payments often involve delays, fees and banking restrictions. Stablecoins can settle transactions faster and at lower cost.
For remote workers and freelancers, digital payouts can offer flexibility and financial inclusion. Some users prefer holding stablecoins to hedge against local currency instability.
Deel positions the partnership as a response to global workforce trends. Companies increasingly hire talent across multiple jurisdictions, creating demand for frictionless payment rails.
Europe has emerged as a regulated environment for digital assets. Clearer frameworks encourage fintech firms to experiment with blockchain infrastructure.
By integrating stablecoin payroll, Deel and MoonPay bridge traditional employment systems with crypto finance. The model blends compliance, payroll management and digital settlement.
If adoption grows, stablecoin salaries could become standard in certain sectors, especially technology and remote-first companies.
The partnership illustrates a broader pattern. Crypto utility increasingly centers on real-world financial infrastructure rather than speculative trading alone.
Source: Cointelegraph