PANews reported on February 23 that, according to CoinDesk, crypto and related stocks showed signs of stabilizing in pre-market trading amid continued macroeconomicPANews reported on February 23 that, according to CoinDesk, crypto and related stocks showed signs of stabilizing in pre-market trading amid continued macroeconomic

Analysis: Bitcoin rebounded to $66,000, the fear index hovered at a low level, and bargain hunting emerged.

2026/02/23 18:58
2 min read

PANews reported on February 23 that, according to CoinDesk, crypto and related stocks showed signs of stabilizing in pre-market trading amid continued macroeconomic uncertainty roiling the market. Bitcoin briefly fell to $64,400 on Sunday before rebounding and regaining the $66,000 mark. This followed US President Donald Trump's proposed new round of tariffs and US-Iran tensions that dampened overall risk appetite.

Strategy (MSTR), the publicly traded company with the largest Bitcoin holdings globally, fell about 2% in pre-market trading. The company may be about to announce its 100th Bitcoin acquisition since launching its BTC Treasury Strategy in 2020. Chairman Michael Saylor has long spearheaded its Bitcoin allocation strategy.

Analysis: Bitcoin rebounded to $66,000, the fear index hovered at a low level, and bargain hunting emerged.

Other crypto stocks also narrowed their losses, with MARA Holdings (MARA), Coinbase (COIN) and Bullish (BULL) all falling by about 2%; AI mining companies IREN (IREN) and Cipher Mining (CIFR) fell by about 1%, showing relatively strong resilience.

In terms of sentiment indicators, the Crypto Fear & Greed Index fell to 6, hitting a new low for the period and remaining in the "extreme fear" zone for seven consecutive days. However, Bitcoin quickly recovered some of its losses, indicating some demand for bargain hunting at lower levels.

Safe-haven assets benefited significantly, with gold breaking through $5,100 per ounce and silver approaching $87; the US dollar index (DXY) remained high below 98, and the strong dollar exerted some pressure on risk assets.

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