Bitcoin Nears $68,000 as Trump’s Tariff News Fails to Shake Crypto Markets; Altcoins Lead Modest Gains
February 20, 2026 — Despite recent turbulence sparked by U.S. tariff developments under former President Donald Trump, cryptocurrency markets appear resilient. Bitcoin (BTC) edged closer to the $68,000 mark on Friday, shrugging off headline risks from new tariff announcements. Meanwhile, several altcoins including Dogecoin (DOGE), Solana (SOL), and Cardano (ADA) led a modest bounce in prices, helping broaden gains across the digital asset space.
Tariff Developments Stir Market Uncertainty
The day’s trading opened amid heightened uncertainty following a U.S. Supreme Court ruling that deemed Trump’s previous global tariff rollout illegal. The ruling left unresolved questions about the fate of tariffs already collected and did not close off the possibility of further trade measures, as alternative legal and executive options remain on the table.
Later in the day, Trump announced the imposition of an additional 10% global tariff, set to take effect in three days and span roughly five months, under Section 122. This levy is to be applied alongside existing tariffs, aiming to boost trade protectionism.
Markets Digest Tariff News, Show Modest Gains
Despite the tariff headline turbulence, risk assets, including cryptocurrencies, exhibited modest gains rather than a sell-off. The CoinDesk 20 Index, a broad benchmark for major cryptocurrencies, rose approximately 2.5% over the last 24 hours. Among the strongest performers were Binance Coin (BNB), Dogecoin (DOGE), Cardano (ADA), and Solana (SOL), each posting advances between 3% and 4%.
Bitcoin traded just below $68,000 during late Friday sessions. Simultaneously, traditional U.S. stock indices also staged gains, with the S&P 500 up 0.9% and the Nasdaq 100 rising 0.7%. Crypto-related stocks mirrored this trend; Coinbase (COIN), stablecoin issuer Circle (CRCL), and bitcoin treasury firm MicroStrategy (MSTR) all increased by over 2%. However, bitcoin miners with AI infrastructure ties—such as Riot Platforms (RIOT), Cipher Mining (CIFR), IREN, and TeraWulf (WULF)—underperformed, declining between 3% and 6%.
Analysts Expect Rangebound Trading Amid Lingering Uncertainty
Market observers noted that while the tariff news created a brief headline-driven rally, trading volumes remain muted and conviction for sustained price breakouts is low. Paul Howard, director at trading firm Wincent, commented, “We have seen a small rally for risk assets post-tariffs news as it leads into a narrative that tariffs are damaging for the macro environment.” Yet, he emphasized that cryptocurrencies are likely to maintain rangebound trading unless disrupted by new macroeconomic or geopolitical shocks.
One looming risk flagged by analysts is the potential for further geopolitical escalation, particularly involving Iran, given recent military buildups in the region that could prompt aggressive responses.
Retail Buying Strengthens Bitcoin’s Base, But Whales Remain Cautious
Separately, data indicates that small bitcoin holders—those with less than 0.1 BTC—have increased their holdings by about 2.5% since last October’s all-time price high. However, large holders, also known as “whales,” have quietly trimmed their positions by nearly 0.8%. This divergence suggests that while retail investor appetite is growing, the absence of significant buying interest from large holders might be limiting the sustainability of upward price moves, contributing to the current choppy and fragile market conditions.
As the crypto market navigates the complex interplay of tariff policy, geopolitical tensions, and investor behavior, participants appear cautious, waiting for clearer macroeconomic signals before pushing prices decisively higher. For now, Bitcoin and its peers remain steady but rangebound, shrugging off headline shocks yet sensitive to the broader economic and political landscape.
— Reported by Krisztian Sandor, Edited by Stephen Alpher, CoinDesk