Bitcoin is trading around $67,000, struggling to maintain momentum as outflows from spot Bitcoin and Ethereum ETFs persist, according to data compiled on February 19, 2026. The cryptocurrency has experienced five consecutive months of negative closes, a pattern previously observed only during the 2011 and 2018 bear markets.
The current downturn comes after a brief rally, and analysts are wary as the broader market faces uncertainty. Approximately 95,957 traders were liquidated in the past 24 hours, totaling $202.18 million, according to Coinglass data. Net outflows from spot Bitcoin ETFs reached $133.3 million on Wednesday, although spot Ethereum ETFs saw outflows of $41.8 million, as reported by SoSoValue.
Despite the recent struggles, some analysts point to historical precedent. Network economist Timothy Peterson noted that Bitcoin has historically rallied more than 100% within five months following similar extended drawdowns. The longest such streak occurred in 2018, with six consecutive negative monthly closes before a subsequent rally.
Trader Crypto Batman observed that the current five-month red streak is the second-longest on record. He added that historically, prolonged weakness has preceded major reversals, rather than extended collapses. Trader Crypto Tony identified a significant liquidity cluster above the current price, suggesting a potential short-term rally to trigger stop-loss orders before a further decline.
The Chicago Mercantile Exchange (CME) recently began offering 24/7 trading for Bitcoin and Ethereum futures, coinciding with a breakout in the stock market. Société Générale has as well launched the first Euro stablecoin on the XRP Ledger. Meanwhile, Sam Bankman-Fried has alleged that the judge presiding over his case is employing tactics similar to those used by former President Trump to block evidence.
Jim Cramer, a financial commentator, recently dismissed Bitcoin as a hedge against the escalating tensions involving Iran, stating that cryptocurrencies are “getting slaughtered.”
