New York, February 11, 2026, 12:14 EST — Regular session
- Bitcoin extended a pullback below $70,000, keeping pressure on risk trades.
- Coinbase, Strategy and Robinhood fell in U.S. trading as bitcoin-linked bets slid.
- Traders are looking to Friday’s U.S. inflation data for the next catalyst.
Bitcoin fell 4.5% to $66,215 on Wednesday, extending a pullback that kept it below $70,000. It traded as high as $69,903 and as low as $65,839.
Crypto-linked stocks slid with the token. Coinbase fell 7.3% to $150.64, Strategy dropped 5.2% to $126.05 and Robinhood sank 12.6% to $74.84. BlackRock’s iShares Bitcoin Trust ETF was down 4.1% at $37.39.
The move matters because the market is trying to reset interest-rate expectations after a stronger U.S. jobs report, a driver that often spills into bitcoin and other high-risk trades. U.S. payrolls rose 130,000 in January versus forecasts for 70,000, while the unemployment rate slipped to 4.3%, and the 10-year Treasury yield was last up about 4.5 basis points at 4.19% after the data. “This likely pushes out the concept of a rate cut well into the second quarter,” said Art Hogan, chief market strategist at B Riley Wealth. (Reuters)
Wall Street stocks climbed after the report and traders pushed expectations for the first quarter-point cut to July from June, according to LSEG data. “The underlying employment picture looks like it’s stronger than what’s expected,” said Jordan Rizzuto, chief investment officer at GammaRoad Capital Partners. (Reuters)
In crypto markets, the weakness spread. Ether fell 5.3% to $1,918.82 and XRP slid 4.9% to $1.35.
Even so, some money kept drifting into U.S. spot bitcoin ETFs — funds that hold bitcoin and trade like stocks. The products took in a net $166.5 million on Tuesday, led by ARK’s ARKB at $68.5 million and Fidelity’s FBTC at $56.9 million; BlackRock’s IBIT added $26.5 million, Farside Investors data showed. (Farside)
Robinhood’s slump had its own catalyst. The retail broker reported record quarterly revenue but missed Wall Street estimates as crypto trading revenue came in light, and finance chief Shiv Verma said active users “were still really active” even as the firm’s pricing tiers reduced rebates. (Reuters)
Regulators also stayed in the frame. Britain’s Financial Conduct Authority said it had asked social media companies and app stores to block access to crypto exchange HTX in the UK, part of a broader push against unauthorised crypto promotions. (Reuters)
The risk now is that macro data, not coin-specific headlines, sets the next move. Sticky inflation could lift yields again and squeeze leveraged positions, while softer data would bring rate-cut timing back into view.
The next test is Friday’s U.S. consumer price index report for January, due at 8:30 a.m. ET. Traders will also watch whether the next daily ETF flow update shows buyers sticking around if bitcoin stays pinned in the mid-$60,000s. (Bls)
