New York, Feb 26, 2026, 17:22 (EST) — After-hours
- Bitcoin slipped roughly 2% Thursday, trimming back a sharp rally that had sent it close to $69,000 just a day earlier.
- Shifting risk appetite was cited by traders, along with renewed focus on U.S. spot bitcoin ETF flows.
- Crypto bulls now turn to Friday’s U.S. producer inflation report, watching for any impact on rate-cut expectations.
Bitcoin slipped Thursday, erasing some of the prior session’s gains as traders took another look at risk following a sharp rally that had nearly brought the token up to $69,000.
The retreat is notable, since bitcoin’s recent surge has depended on a shaky combination—stronger appetite for spot bitcoin exchange-traded funds (ETFs) and a more stable mood across risk assets. A drop in either one can quickly stall the gains.
Stocks wobbled after Nvidia’s earnings, with traders quickly shifting focus to upcoming inflation data that might alter the outlook for U.S. rate cuts. Nvidia CEO Jensen Huang called demand for compute “growing exponentially,” noting “our customers are racing to invest in AI.” Those remarks only fueled the ongoing discussion over just how crowded the AI trade has gotten. Investopedia
Bitcoin slipped 2.1% to $67,457. The cryptocurrency swung from a session peak of $68,936 to a low of $66,617 earlier in the day.
U.S. spot bitcoin ETFs registered $506.5 million in net inflows Wednesday, marking the biggest single-day haul since Feb. 2, SoSoValue data reported by FXStreet shows. BlackRock’s iShares Bitcoin Trust took the top spot in terms of daily inflows.
Even so, flows remain choppy. “This keeps Bitcoin in a delicate equilibrium,” said Iliya Kalchev, analyst at Nexo Dispatch. He pointed to recent outflows, stronger demand for downside protection in derivatives, and not much evidence that long-term holders are throwing in the towel. Investing
Another headache: the broader “risk” complex. Stretched AI stock valuations and cloudy prospects for Fed rate cuts have put pressure on risk assets—bitcoin included. That’s helped send the token toward its lowest levels of the quarter, according to Reuters earlier on Thursday. Reuters
Bitcoin-related stocks lost ground heading into the close. Coinbase dropped 6.5%. Strategy finished down 5.6%. Miners Marathon Digital and Riot Platforms ended basically flat to modestly in the red.
The risk is straightforward: stalled ETF demand could send bitcoin right back into its old range, and that move could accelerate if rising bond yields—driven by macro data—put the squeeze on leveraged trades.
Next up: traders are watching Friday’s U.S. Producer Price Index (PPI) for January, set for release at 08:30 a.m. (EST). The report is a key input, alongside other inflation data, as market participants try to gauge the direction of consumer inflation.
Next up, the U.S. Personal Consumption Expenditures (PCE) price index lands March 13, giving the market its latest read on the Fed’s favored inflation barometer — a key data point for traders betting on rate cuts.
