Bitcoin Hovers Around $67,000 as Crypto Markets Drift Lower

Crypto markets edged lower on Tuesday, Feb. 17, as traders remain cautious ahead of new economic data.

Bitcoin (BTC) is trading at about $67,500, down 0.5% over the past 24 hours, while Ethereum (ETH) is up 1% at $1,995. Other large-cap tokens are largely unchanged, with BNB trading at $618, XRP at $1.48, and Solana (SOL) at $85.

Meanwhile, the total cryptocurrency market capitalization stood near $2.39 trillion, down about 0.5% on the day, while 24-hour trading volume was $93.1 billion, according to CoinGecko.

Among top gainers, MemeCore (M) rose about 9%, Pi Network (PI) climbed 6%, and World Liberty Financial (WLFI) advanced around 4.2%.

On the downside, Quant (QNT) fell 3.7%, Worldcoin (WLD) dropped 2.7%, and Sky (SKY) slipped 2.3%.

Paul Howard, senior director at Wincent, noted in comments shared with The Defiant that volatility has cooled after the Feb. 6 spike, with markets now in a holding pattern as institutions hedge rather than take new directional bets.

Howard added that prices are likely to remain rangebound until a clear catalyst emerges, such as major macro or policy headlines. In the meantime, investors are watching this week’s initial jobless claims report.

Liquidations and ETF Flows

Roughly $193.7 million in leveraged crypto positions were liquidated over the past 24 hours, according to CoinGlass. Long liquidations accounted for $126.2 million, while shorts made up $67.5 million.

Bitcoin accounted for $77 million, while Ethereum followed with $44.9 million. More than 83,000 traders were liquidated during the same period.

In the exchange-traded fund (ETF) space, Bitcoin spot ETFs recorded $15.2 million in inflows on Feb. 13, while Ethereum spot ETFs posted $10.26 million in inflows.

Moreover, XRP spot ETFs added $4.5 million on the day, and U.S. Solana spot ETFs recorded $1.57 million in inflows.

Elsewhere

In traditional markets, precious metals were also lower on the day. Gold traded around $4,900, down 2.2%, while silver fell 4% to $74.20. Platinum slipped 1.4% to $2,033, and palladium declined 2.6% to $1,710.

Geopolitics were also in focus as U.S. officials said talks with Iran in Geneva made progress, CNN reported. Negotiations over Russia’s war in Ukraine also continued, with delegations set to resume talks after the initial meetings conclude.

Meanwhile, in Washington, the Department of Homeland Security remained shut down amid an ongoing policy standoff. Experts say this adds to both political and economic uncertainty.