Bitcoin (BTC) has plunged below the critical $68,000 support level, marking a decisive breakdown of its 200-week exponential moving average (EMA) for the first time in the current market cycle. As of Wednesday, February 11, 2026, the world's largest cryptocurrency has extended its losing streak to three consecutive days, dropping 3% to test the precarious $66,000 zone. This latest Bitcoin price crash February 2026 has triggered a broader sell-off across the digital asset landscape, wiping out nearly $79 million in long positions in just 60 minutes as traders brace for a potential retest of the $60,000 psychological floor.
Technical Breakdown: BTC 200-Week EMA Fails
The most alarming development for technical analysts is the BTC 200-week EMA breakdown. Historically, this indicator has served as the "last line of defense" for long-term bull markets. With Bitcoin now trading at approximately $66,624, significantly below the $68,000 threshold, the technical structure has shifted bearishly. Market analysts warn that a weekly close below this level could confirm a trend reversal, opening the floodgates for a deeper correction.
"The 200-week EMA was the line in the sand," notes a senior analyst from Finance Magnates. "Losing this support exposes the October 2024 lows. The path to $60,000 is now wide open, and if that fails, we could see a capitulation wick toward $52,000." This Bitcoin technical analysis 2026 suggests that the bulls have lost control, leaving the market vulnerable to further downside momentum as algorithmic trading bots react to the breach of key support levels.
Crypto Market News Today: Altcoins Bleed
The bearish sentiment has naturally spilled over into the altcoin market. Crypto market news today is dominated by a sea of red, with major assets posting steeper declines than Bitcoin itself. Ethereum (ETH) has slid 3.5% to $1,950, surrendering the $2,000 handle that had acted as support for months. Meanwhile, XRP has retreated 2% to $1.37, and Dogecoin (DOGE) has collapsed 3% to $0.09, marking its fifth straight day of losses.
Liquidation Cascades Intensify
Data from Coinglass reveals the extent of the damage: cryptocurrency liquidations data shows over $90 million in total positions liquidated in the last 24 hours, with the vast majority being bullish bets. The leverage flush indicates that traders were caught off-guard by the intensity of the sell-off, particularly as many had positioned for a rebound off the $68,000 level. The rapid unwinding of these leveraged positions has exacerbated the downward pressure, creating a feedback loop of selling.
Clarity Act Stalls: Regulatory Uncertainty Weighs Heavy
Beyond the charts, fundamental headwinds are accelerating the decline. Washington is currently gridlocked over the Clarity for Payment Stablecoins Act (Clarity Act), a crucial piece of legislation intended to regulate the $150 billion stablecoin market. Reports indicate a heated standoff between traditional banks and crypto firms over stablecoin yield-bearing products. Treasury Secretary Scott Bessent has urged lawmakers to pass the bill by spring to ensure U.S. financial sovereignty, but the political impasse is spooking investors.
"The market hates uncertainty," explains a policy analyst at the Crypto Council for Innovation. "The fight over whether stablecoin issuers can offer yields competing with bank deposits is stalling the Clarity Act stablecoin news cycle. Until we get a clear regulatory framework, institutional capital is likely to remain on the sidelines." This legislative limbo comes at a time when the Congressional Budget Office (CBO) has issued dire warnings about U.S. national debt, further dampening risk appetite across all asset classes.
Bitcoin Price Prediction 60k: Is the Bottom In?
Looking ahead, the Bitcoin price prediction 60k narrative is gaining consensus. With the 200-week EMA now acting as formidable resistance, the $60,000 to $62,000 zone represents the next major accumulation area. Institutional players, however, remain undeterred by the short-term volatility. Michael Saylor of Strategy (formerly MicroStrategy) reaffirmed his company's commitment to buying Bitcoin "forever," regardless of quarterly price action. Similarly, a new partnership between Binance and Franklin Templeton to allow tokenized money-market funds as collateral suggests that the infrastructure for the next bull run is still being built, even as prices falter.
For now, traders should watch the weekly close carefully. Reclaiming $68,000 is essential to invalidate the bearish thesis. Failing that, the market may be in for a prolonged "crypto winter" chill before the next leg up begins.
