Bitcoin price news: BTC retreats from the $70k mark, edging back toward $65k as the software sector slides and precious metals drop.
Bitcoin and the broader tech landscape again move in tandem, with crypto trading near last week’s lows as AI concerns weigh on technology shares and metal prices fall.
The link between crypto and software stocks reasserted itself on Wednesday, underscoring how movements in tech can ripple through digital assets.
Updated Feb 12, 2026, 9:43 p.m. Published Feb 12, 2026, 8:54 p.m.
Bitcoin BTC around $66,418.51 fell back toward last week’s trough, erasing most of its recent gains above $70,000 and continuing the decline alongside weakness in broader tech markets, now hovering near $65,000.
Over the past 24 hours, Bitcoin was down roughly 2%, with ether ETH and solana SOL tracking declines in step.
The downturn mirrored broader Nasdaq action, which slipped about 2% on Wednesday, with the software sector hit hard as the iShares Expanded Tech-Software Sector ETF (IGV) dropped around 3%. The IGV is down about 21% year-to-date, as investors reassess lofty multiples in a world where the coding prowess of AI tools seems to be advancing rapidly.
Macro strategist Jim Bianco described the day this way: software stocks are under pressure again, and IGV has essentially returned to last week’s panic lows. He added a provocative comparison: there’s another type of software after all—‘programmable money,’ i.e., crypto—and suggested they’re not as different as they might seem.
Precious metals didn’t escape the pullback either. Gold and silver, which had been modestly higher for much of the day, saw sharper declines in the mid-afternoon. Silver dropped about 10.3% to $75.08 per ounce, while gold slipped 3.1% to $4,938 per ounce.
What’s happening in the market:
- Crypto exchange Coinbase reported a Q4 earnings miss, with transaction revenue dipping to $982.7 million from $1.046 billion in the prior quarter and $1.556 billion a year earlier.
- In the first quarter of 2026 through February 10, Coinbase generated roughly $420 million in transaction revenue.
- Shares traded modestly higher after hours but remain about 40% lower for the year so far.
Read full story (https://www.coindesk.com/markets/2026/02/12/coinbase-misses-q4-estimates-as-transaction-revenue-falls-below-usd1-billion)
