Bitcoin ETFs bleed $410M amid $2.5B options expiry: is BTC facing deeper crash?

  • Bitcoin saw spot ETF outflows of over $410 million as prices struggled.
  • Over $2.5 billion in Bitcoin options expired on Friday.
  • Analysts say “worst of downturn” likely over but market remains bearish.

Bitcoin ETFs experienced a net outflow of over $410 million on February 12, as investors withdrew capital from the exchange-traded funds amid growing fears of a broader crypto market downturn.

And on Friday morning, Feb. 13, BTC price fluctuated near $66,800 as the market recorded a massive $2.5 billion Bitcoin options expiry.

Crypto analysts have shared their thoughts on what this could mean for the Bitcoin price in the short term.

Bitcoin ETF outflows and $2.5 billion options expiry

Data showed that on US spot Bitcoin ETFs recorded net outflows of over $410 million yesterday, with none of the 12 spot ETFs notching net inflows.

BlackRock’s IBIT led with nearly $158 million, Fidelity’s FBTC had $104 million, and Grayscale’s GBTC had over $59 million in exits.

This marked the second consecutive day of redemptions, following $276 million on February 11.

Institutional investors are pulling back amid Bitcoin’s struggles around the $67,500-$65,450 range.

The fresh ETF outflows coincide with a pivotal weekly options expiry at 08:00 UTC on Feb. 13.

Approximately 38,000 Bitcoin contracts worth $2.5 billion in notional value have expired, primarily on Deribit, with a put/call ratio of 0.72 and maximum pain near $74,000.

Ethereum also saw 215,000 ETH options worth $410 million expire, with a put/call ratio of 0.82 and a maximum pain point at $2,100.

These maximum pain points are at values well above spot BTC and ETH levels, and likely the driver of downward pressure as market makers look to hedge delta exposure on out-of-the-money calls.

Bitcoin price prediction

The ETF outflows and broader market weakness hinder bulls, and sentiment is skewed bearish, analysts say.

“Today saw the expiration of options accounting for 9% of total open interest, totaling nearly $2.9 billion. This week, implied volatility for Bitcoin and Ethereum has declined, with BTC’s main-term IV at 50% and ETH’s at 70%. While the downward price trend has moderated, market confidence remains weak,” analysts at Greeks.live noted via X.

Despite this outlook, the market may have “the most violent leg of the downturn” behind it. If sentiment improves, prices could pick up an upside trajectory.

In this case, a relief rally to above the critical $70,000 mark is likely.

However, ETF bleeding and macroeconomic headwinds could greatly cap upside momentum.

On Thursday, Standard Chartered forecast Bitcoin price could retest $50k before rising to $100k by the end of 2026. The bank cites ETF outflows, macro pressures and broader risk asset sentiment as negative catalysts.

Notably, BTC tested support at $60k this month, and the elevated implied volatility, coupled with ETF exits, signals aggressive downside protection.

If outflows continue amid other highlighted downside triggers, the $50k level could be the next target.

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Bitcoin Cash holds near $500 despite broader crypto market slump: check 2026 outlook

  • Bitcoin Cash price held near $500 as bulls battled intraday sell-off pressure.
  • The altcoin could retest key resistance levels amid Bitcoin’s gains.
  • However, Standard Chartered forecasts BTC could drop to $50k, and BCH will likely mirror this.

Bitcoin Cash (BCH) price is demonstrating notable resilience, with bulls holding near the $500 mark as the broader cryptocurrency market downturn hits sentiment.

On February 12, 2026, the BCH price hovered between $496 and $523, down nearly 3% in the past 24 hours but still within range of this crucial level.

Bitcoin Cash price holds $500 amid BTC struggle

The resilience comes as the broader crypto market faces pressure, including from macroeconomic factors.

Sell-off across the sector has seen Bitcoin struggle to reclaim the $70,000 mark, and on Thursday, Standard Chartered analyst Geoff Kendrick highlighted the bank’s forecast for BTC in 2026.

Specifically, Standard Chartered has now slashed its 2026 target to $100,000 per Bitcoin, citing potential further pain before prices recover.

Amid downward pressure, the bank sees bears pushing BTC to support around $50,000.

Kendrick said in a note to clients that Ethereum will also likely drop to $1,400 before rebounding to highs of $4,000 in 2026.

While BCH remains near $500 and has held above the $450 support, this outlook for BTC and ETH suggests the coin could be at risk of further decline.

Negative sentiment will cascade to other Bitcoin-related tokens.

BCH price technical outlook and forecast for 2026

Bitcoin Cash price fell to around $468 on October 10, 2025, and to $454 on Feb. 5, 2026.

The two dates highlight the last two major sell-off events across the crypto market. If prices fall past this support base, a retest of June 2025 lows at $385 could follow.

Before this, Bitcoin Cash had rallied from $268 to $443 between April 9 and May 23.

From a technical perspective, BCH’s weekly chart indicates that the price currently hovers above a key horizontal support level.

The uptick between March and September 2025, and between November 2025 and early January 2026, also put prices above the middle line of a broader parallel channel.

The resistance level of this pattern lies near $700, while support is around $264.

Bitcoin Cash BCH Price Chart
Bitcoin price chart by TradingView

Currently, BCH’s price hovers at the 50-day moving average of $597, which has acted as support since Oct. 10, 2025.

If the price drops below the 50-day SMA, bulls could be in trouble. The weekly RSI sits in the neutral 40-50 zone. However, it is likely to suggest potential bearish acceleration before a rebound.

Meanwhile, the MACD indicator shows strengthening bearish momentum after a bearish crossover in mid-January.

A weekly close above $510 could allow buyers a relief rally towards the channel resistance. However, if prices slip under $425, a revisit of $300-$260 could be next.

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Stacks price retests $0.28: can STX go higher?

  • Stacks price surged by 5% to test resistance near $0.28.
  • Gains follow Bitcoin’s uptick to $67,500.
  • STX could still dip to recent lows if the Bitcoin price falls to new lows.

Stacks’ STX token edged higher on the day as Bitcoin held above the $67,500 level following a roughly 2% intraday move.

Despite the modest gain, the Bitcoin layer-2 network’s native token continues to trade in volatile conditions, reflecting uncertainty across the broader cryptocurrency market.

A sustained pickup in momentum could lift STX toward levels last seen in May 2025.

However, ongoing market turbulence and expectations of further downside risk for Bitcoin suggest Stacks may remain under pressure.

Analysts point to $0.24 as a key support level that bulls will need to defend to prevent a deeper pullback.

Stacks price today

STX posted modest daily gains on February 12, 2026, trading around $0.27 at the time of writing with a 5% uptick.

But buyers are hovering at these levels after hitting resistance around $.028, a level reached after STX recovered from Feb.5, 2026, lows of $0.22.

Despite weekly losses having moderated to 2%, Stacks remains more than 32% down in the monthly time frame.

Meanwhile, gains on the day have also come amid reduced buyer interest, with daily trading volume down 6% to $13.2 million.

Notably, prices remain within the range that offers support at $0.24, with bulls revisiting the level on three occasions year-to-date.

Stacks price prediction

Stacks is among the top Bitcoin DeFi protocols looking to leverage a layer-2 network to enable smart contracts and yield opportunities directly on Bitcoin’s security.

The project has gained traction as the digital asset investment space broadens.

One of its landmark moves is the recent integration with Fireblocks, which could potentially expose over 2,400 institutional clients to STX for native Bitcoin DeFi participation.

“Bitcoiners want to earn yield without sacrificing security. They want their yield to be denominated in Bitcoin and ideally, with as few additional trust assumptions as possible,” the firms stated in their announcement.

Clients will be able to tap into Bitcoin-denominated rewards, BTC-yielding vaults, and BTC-backed loans.

This institutional gateway could significantly boost STX adoption, especially if Bitcoin prices spike.

Bulls could eye the $0.56-$0.60 range or higher, with the altcoin having reached highs of $1.05 in May 2025.

The technical picture supports this short-term outlook and targets.

On the daily chart, the Relative Strength Index (RSI) hovers at 34, but signals bullish divergence.

Charts also show the Moving Average Convergence Divergence (MACD) indicator pointing to a bullish crossover.

Stacks Price Chart
Stacks price chart by TradingView

If Bitcoin faces intensified selling pressure, Stacks’ upside potential could suffer.

In this case, STX may find support in the $0.23-$0.20 area.

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UNI price jumps as BlackRock’s BUIDL token lists on Uniswap, but risks remain

  • Uniswap (UNI) price surged on BUIDL news but quickly pulled back as momentum faded.
  • Institutional access boosts Uniswap’s profile but remains tightly restricted.
  • Whale activity before the news raised insider trading concerns.

Uniswap’s UNI token experienced a sharp price surge after the announcement of the listing of BlackRock’s BUIDL token on the protocol.

UNI briefly rallied toward the $4.50 region before losing momentum and pulling back, reflecting a mix of excitement and caution among traders.

Alongside the optimism, concerns have emerged that could limit sustained upside for the UNI price.

BlackRock’s BUIDL listing on Uniswap brings institutional credibility

BlackRock’s BUIDL token is a treasury-backed, tokenised money market fund designed for institutional investors.

By enabling BUIDL to be traded through Uniswap’s infrastructure, the protocol has taken a significant step toward hosting real-world assets on-chain.

This integration relies on a request-for-quote model rather than open liquidity pools, reflecting the compliance needs of large financial institutions.

Only whitelisted market makers and qualified investors are allowed to participate in these trades.

As a result, the integration showcases Uniswap as an execution and settlement layer rather than a fully permissionless marketplace in this case.

For UNI holders, the announcement strengthened the narrative that Uniswap can benefit from institutional adoption without changing its core architecture.

The market responded quickly, pushing UNI higher as traders priced in potential long-term fee growth and relevance.

UNI price surge followed by a pullback

UNI’s rapid surge was followed by an equally notable pullback, suggesting many traders treated the rally as a short-term opportunity rather than a structural shift in valuation.

Volume spiked sharply during the surge, indicating aggressive positioning from both buyers and sellers.

Then, soon after, selling pressure increased as the price failed to hold above key resistance levels.

The pullback has returned UNI closer to its recent trading range, despite the significance of the announcement.

This behaviour reflects a market that is still cautious about translating institutional experiments into lasting token value.

It also highlights that Uniswap’s fundamentals, while improving, remain exposed to broader crypto market sentiment.

Insider trading concerns

Adding complexity to the situation were reports of large UNI movements shortly before the BlackRock-related news became public.

A long-dormant whale wallet reportedly moved millions of UNI tokens after years of inactivity.

The timing of this transfer raised speculation that some market participants may have had early knowledge of the announcement.

While no evidence confirms wrongdoing, the optics alone were enough to spark debate.

Insider trading concerns can undermine confidence, especially when institutional names are involved.

For regulators and institutional investors, perception matters almost as much as facts.

Any lingering doubts about fairness or information asymmetry could limit follow-through buying.

This risk sits alongside the structural limitation that BUIDL access remains restricted to institutions.

Retail traders may benefit indirectly, but they are not participants in the actual BUIDL market.

Uniswap price forecast

UNI is now trading well below its recent peak, placing technical levels back at the centre of attention.

The first key support zone lies around the $3.20 to $3.30 area, where buyers previously stepped in.

A sustained break below this range could expose UNI to deeper downside toward the psychological $3.00 level.

Below that, the $2.80 to $2.90 region stands out as a major support that aligns with prior consolidation.

On the upside, traders will watch the $3.80 to $4.00 zone as near-term resistance.

A clean move above $4.00 would signal renewed bullish momentum and open the door for a retest of $4.50.

Failure to reclaim these levels would suggest the BlackRock-driven rally has fully cooled.

For now, UNI sits at a crossroads where strong narratives compete with technical weakness.

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