Pre-market trading stabilizes as bitcoin (BTC) reclaims $66,000

CoinDesk

by James Van Straten

February 23, 2026

AI-Generated Deep Dive Summary

Pre-market trading has shown signs of stabilization as Bitcoin (BTC) rebounded above $66,000 following a sharp drop earlier in the week. The cryptocurrency briefly fell to $64,400 on Sunday, driven by concerns over President Trump’s proposed tariffs and escalating U.S.-Iran tensions, which have dampened broader risk sentiment across markets. Despite these factors, Bitcoin has regained some ground, with the Fear and Greed Index reaching a low of 6—a sign of extreme fear—but showing tentative signs of recovery as dip buyers step in at lower levels. The rally in Bitcoin comes amid a mixed performance in related equities. Strategy (MSTR), the largest publicly traded holder of Bitcoin, saw its shares drop about 2% in pre-market trading ahead of its 100th Bitcoin purchase announcement. Similarly, Coinbase (COIN) and Bullish (BLSH) also experienced modest declines, though these losses were less severe than earlier drops. Meanwhile, AI-focused mining companies like IREN (IREN) and Cipher Mining (CIFR) saw slightly better outcomes, with shares falling roughly 1%. The broader market impact has been relatively contained within tech sectors, with the Invesco QQQ (QQQ) down just 0.3% and the iShares Expanded Tech Software Sector ETF (IGV) declining by 1% near $80. This underscores the ongoing correlation between Bitcoin and software stocks, a trend that has persisted despite recent volatility. Precious metals have also benefited from risk aversion, with gold climbing above $5,100 per ounce and silver nearing $87. The DXY index, reflecting the strength of the U.S. dollar, remains just below 98, further weighing on risk appetite. For crypto enthusiasts and investors, this development highlights the delicate balance between market sentiment and geopolitical factors in determining price movements. Bitcoin’s rebound suggests that despite

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Originally published on CoinDesk on 2/23/2026