Given crypto’s strong correlation with risk assets in recent years, particularly technology stocks, one might have expected bitcoin and the broader digital asset market to experience sharp declines on the headlines alone. When US equities turn volatile, crypto markets have often followed — and frequently with amplified moves due to their speculative nature and embedded leverage. However, this time the backdrop looks materially different.

Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February marked the fifth straight negative month, reflecting sustained selling pressure and deteriorating sentiment across the sector, writes Simon Peters, Crypto Analyst at eToro.