Bitcoin’s Dramatic Plunge: A Comedic Ballet of Crypto Misfortune

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Ah, the weekend revelry of Bitcoin came to a rather abrupt conclusion at the ripe price of just over $70,000, only to be rudely ushered down to $68,000, where it found itself awkwardly propped up-like an uninvited guest at a dinner party.

Meanwhile, the altcoin brigade succumbed to a rather morose shade of red, with Ethereum diving below the psychologically significant $2,000 mark and XRP tumbling below the barely-there $1.50. As for Dogecoin? Well, it has apparently decided to take a leisurely stroll among the worst of them over the past 24 hours, perhaps searching for its lost dignity.

BTC Rally Brought to a Graceless Halt Above $70K

Our dear Bitcoin experienced a melodramatic bout of volatility at the start of this month, with a narrative arc more downward than a sad sonnet. The pièce de résistance occurred on February 6, when it took a nosedive to a 15-month low of $60,000, having lost a staggering $30,000 in a mere fortnight. Truly, a remarkable performance.

Then came the grand rebound as BTC catapulted itself skyward by $12,000, reaching a dizzying height of $72,000. Alas, it was halted there, trapped between the heights of ecstasy and the depths of despair, swinging sideways between $72,000 and $68,000. The lower boundary, however, ultimately surrendered mid-week, leading Bitcoin to flounder under $66,000, like a fish out of water.

Fear not, for the bulls eventually mustered their courage, preventing yet another descent into the abyss. By the end of the business week, BTC regained some semblance of composure, climbing back to over $69,000. It pranced above the $70,000 milestone over the weekend before being mercilessly shoved back to $68,000 come Sunday evening.

As of our latest report, it has nibbled back some ground, still languishing below $69,000. The market cap now sits at a rather unimpressive $1.375 trillion, while its dominion over the altcoins remains unshaken at 56.6%. A true testament to its enduring reign of chaos.

Alts Take a Scenic Route South

Ethereum, the once-mighty contender, was swiftly dismissed at $2,100 over the weekend, now grappling with the psychological weight of being below $2,000. Ripple’s XRP, after a brief flirtation with success at over $1.65 yesterday, has been unceremoniously dragged south to a pitiful under $1.50 by the cruel hands of fate. And DOGE, bless its heart, was the day’s top gainer among larger caps but has since plummeted to a meager $0.10 following a disheartening 9% drop. What a tragicomic tale!

The roll call of big losers includes XMR, ZEC, WLFI, and MNT, all vying for a spot in this pantomime of misery. Pi Network’s token, once riding high, has also faced a rather violent rejection, plunging from over $0.20 yesterday to a dismal $0.17 on CoinGecko.

In a shocking twist, the total crypto market cap has shed a staggering $70 billion in a single day, collapsing to a mere $2.425 trillion on CoinGecko. One can only wonder if it’s time to send in the clowns.

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2026-02-16 14:11