Bitcoin Holds Near $67K as Traders Buy Downside Protection

Friday, Feb 20, 2026 12:45 pm ET1min read
BTC--

Bitcoin is holding steady near $67,000, but options markets are flashing warning signs as traders aggressively buy downside protection. The average US ETF investor is nursing a 20% paper loss, with a cost basis near $84,000. Private credit stress and macro headwinds add to the bearish sentiment. Despite institutional appetite, retail investors are skittish, haunted by the prospect of a complete washout.

Bitcoin Holds Near $67K as Traders Buy Downside Protection

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