From 23:00 to 23:15 (UTC) on February 15, 2026, Bitcoin recorded a -0.73% negative return on 15-minute candlesticks across major trading platforms, with short-term price pressure and increased volatility. During this period, Bitcoin’s market capitalization was approximately $1.37 trillion, trading volume was active, and BTC dominance rose to 58.43%. Before and after this window, the overall crypto market continued its all-day correction trend, with investor risk appetite declining and market attention significantly increasing.
The main driver of this fluctuation was the global macro sentiment turning more conservative, with risk assets under continuous pressure. Expectations of Federal Reserve rate hikes intensified, and major economies tightened cryptocurrency regulations, leading to further decline in risk appetite and active risk-avoidance behavior in the market. Bitcoin was unable to remain unaffected. Meanwhile, during this time window, large sell orders in the spot market concentrated and matched, increasing short-term selling pressure and pushing prices down rapidly.
Additionally, the derivatives market saw increased long-short battles, with 24-hour futures trading volume significantly expanding. Some leveraged longs faced liquidation, and the high leverage characteristic of derivatives amplified the downside in the spot market. Furthermore, certain sectors (such as AI and DeFi) experienced notable volatility in some projects, driving overall market risk appetite lower. Multiple factors resonated, affecting short-term performance. Although no abnormal large transfers were observed on-chain, and whale activity had limited impact on this decline, overall net capital inflow slowed.
Caution is still warranted regarding short-term volatility risks. Key indicators to monitor include 24-hour Bitcoin trading volume changes, on-chain fund flows, and global macro news. The market remains in a high-volatility zone, and short-term risks have not been fully alleviated. It is recommended to continue tracking the capital movements of major cryptocurrencies and macro policy developments, and to stay updated on real-time market changes.
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