Crypto is broadly lower over the past 24 hours, and the tape reads like a risk-off session with leverage getting cleaned up. The total crypto market cap at about $2.37T, down 1.98% on the day, with Bitcoin dominance near 56.29%. Stablecoins sit around $310B, about 13.07% of total market cap.

Total 24-hour market volume is about $90.4B, which suggests activity remains high even as prices trend lower. Higher volume on a red day often signals forced flow, hedge activity, or aggressive rotation rather than quiet spot accumulation.

Bitcoin Sits Under $67K

Bitcoin trades around $66,894, down about 1.8% over 24 hours, with the day’s range stretching roughly from $65,900 to $68,232.

The key detail is not the exact percentage move. It is the structure of the move. BTC is slipping while the wider market also prints red, which usually keeps traders focused on leverage metrics, liquidation bands, and intraday liquidity rather than on longer-term rotation themes.

When BTC holds a tight range but trends lower, the market often shows sharp wicks that clear stops in both directions. That pattern fits the current leverage backdrop, where positions get reduced or forced out, and price discovery becomes more reactive.

Top 5 Alts Excluding Stablecoins

The top five non-stablecoin assets after BTC by market cap are Ethereum, XRP, BNB, Solana, and TRON. All are lower on the day, with higher beta names leading the decline.

Asset
Price
24h Change

ETH
$1,968.17
-2.6%

XRP
$1.42
-4.7%

BNB
$606.00
-2.9%

SOL
$81.69
-4.5%

TRX
$0.2795
-0.6%

The pattern is consistent with a deleveraging day. ETH and BNB slide, but SOL and XRP show deeper drawdowns, which is common when perps positioning leans crowded and liquidity thins as risk appetite fades.

Top 5 Gainers and Top 5 Losers (24h)

Even on a red day for majors, the market still shows strong dispersion, with select names running hard while others dump. CoinGecko’s gainers and losers list highlights that split.

Top gainers (24h):

Asset
Price
24h Move

Orbs (ORBS)
$0.01083
+34.9%

Espresso (ESP)
$0.07361
+25.3%

The9bit (9BIT)
$0.01386
+17.6%

Orca (ORCA)
$1.40
+17.2%

Prom (PROM)
$1.52
+15.6%

Top losers (24h):

Asset
Price
24h Move

MYX Finance (MYX)
$0.9586
-30.8%

bitcastle Token (BCE)
$0.07185
-24.9%

Optimism (OP)
$0.1420
-24.6%

Checkmate (CHECK)
$0.07701
-24.2%

Useless Coin (USELESS)
$0.03982
-23.7%

High dispersion like this often appears when traders pull risk from majors and chase isolated catalysts or liquidity pockets, while weaker names suffer thin-book drawdowns.

Derivatives Show Deleveraging Pressure

CoinGlass shows 24-hour crypto futures volume around $142.48B, open interest about $95.06B, down 2.98% on the day, and 24-hour liquidations around $272.77M, up 29.58%. The 24-hour long versus short split is shown near 49.14% to 50.86%.

Falling open interest alongside rising liquidations usually means the market is actively shedding leverage, and at least part of that reduction is forced. This tends to keep intraday moves sharp and reactive, especially when spot liquidity does not fully absorb market-order bursts.

What to Watch Next

If open interest continues to trend lower while BTC stabilizes in the mid $60Ks, volatility often cools after the flush and majors can grind without constant forced-flow interruptions. If open interest stabilizes and starts rising again while liquidation prints stay elevated, the market can remain fragile, with fast swings driven by funding shifts and crowded perp positioning.

For alt performance, the main tell is whether SOL and XRP keep underperforming BTC and ETH. Persistent high-beta weakness often signals that traders are de-risking rather than rotating, while a turn toward relative strength in liquid beta can imply risk appetite rebuilding even if majors remain down on the day.

The post Crypto Market Snapshot: BTC Slips Below $67K as Leverage Unwinds appeared first on Crypto Adventure.

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Filed under: Bitcoin - @ February 19, 2026 9:27 am