Bitcoin sinks below $66,000 as the crypto market weakens in step with a drop in U.S. equities. During late-morning U.S. trading on Thursday, bitcoin slipped toward the bottom of its recent range while the Nasdaq, which is heavy on tech stocks, fell about 1.6%.
Bitcoin changed hands near $65,700, showing a decline of around 1.5% over the past 24 hours. At the same time, ether stayed slightly above $1,900 and dropped by more than 2%.
This price behavior has become common lately. Bitcoin often stays less connected to stocks when markets climb, yet it tends to track the Nasdaq more closely when stocks turn lower. Also, last week’s sharp sell-off did not lead to a strong rebound, which signals that many buyers remain on the sidelines and overall confidence is still shaky.
Market sentiment looks especially tense as the Crypto Fear & Greed Index slid to 5, a level considered “extreme fear.” That number sits even below the fear levels seen during major declines like the 2022 crypto winter and the 2020 Covid crash.
Meanwhile, sentiment took another hit after Geoff Kendrick of Standard Chartered—known for his bullish stance—reportedly cut his 2026 targets for bitcoin, ether, solana, BNB, and AVAX. He also warned that bitcoin could fall toward $50,000.
Crypto Stocks Lose Ground
Stocks tied to crypto also moved lower. Coinbase (COIN) and Robinhood (HOOD) were among the largest losers on Thursday, with both dropping over 8%.
Coinbase is expected to post its fourth-quarter results after the market closes. Robinhood’s latest earnings update already showed that the crypto bear market hurt trading revenue in the final quarter of 2025—before market weakness intensified further in early 2026.
Other major decliners included Strategy (MSTR) down about 4.2%, Circle Financial (CRCL) down roughly 4.3%, and Hut 8 (HUT) down close to 6.6%.
