From 14:30 to 14:45 (UTC) on February 17, 2026, the spot price of BTC experienced a slight decline, with the candlestick closing down 0.24%. Price volatility intensified significantly in a short period, and market attention increased month-over-month, indicating that some investors are becoming more cautious.
The main driver of this movement was short-term capital outflows, influenced by some leveraged contract positions actively reducing their holdings. During this time window, BTC prices faced pressure and retraced. Additionally, mainstream derivatives open interest decreased slightly, and leverage trading activity declined, further adding passive selling pressure on the spot market.
At the same time, macro-level uncertainties—including the market’s wait-and-see sentiment ahead of recent US economic data releases—amplified the volatility, causing bullish sentiment to cool noticeably. On-chain data shows that some medium-sized addresses experienced net outflows during this cycle, and cross-market liquidity tightened simultaneously, increasing selling pressure resonance. Furthermore, cross-chain flows of some stablecoins showed no significant rebound, exerting additional downward pressure on prices.
Currently, the short-term volatility risk for BTC has increased, and continued attention should be paid to key support levels and changes in contract funding positions, especially to external economic news that could impact market sentiment. Going forward, it is recommended to closely monitor on-chain fund movements and large trading account behaviors to respond to sudden market shifts. Please stay tuned for the latest market updates and depth analysis.
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