According to Huoxun Finance on February 20th, on-chain data analytics platform Glassnode published an article on its X platform stating that since the beginning of February, every attempt by Bitcoin to reclaim the $70,000 mark has been met with a drying up of demand, leading to another decline. Data shows that even a net outflow of over $5 million in realized profits per hour is enough to trigger a price pullback. In contrast, during the market euphoria of Q3 2025, profit-taking surged to $200 million to $350 million per hour, yet the price still maintained an upward trend, indicating significantly stronger buying support at that time. Glassnode points out that the current market is in a structurally illiquid environment, making it significantly more challenging for Bitcoin to sustain a recovery in the $70,000 to $80,000 range, and the rebound process may be more tortuous.

Huoxun Finance reported on February 20th that Jake Chervinsky, CEO of the Hyperliquid Policy Center, a lobbying group for Hyperliquid, stated in an article on the X platform that front-end interfaces connecting to decentralized exchange protocols should not be required to perform KYC (Know Your Customer). He argued that US law does not, and should not, force non-custodial software developers to "monitor" users without a warrant, as financial privacy is a fundamental right. While regulators cannot turn a blind eye to illicit on-chain financial activities, even those far smaller than those in the traditional financial system (TradFi), the solution is not simply to apply old regulations that exclude billions of people from the financial system to new technologies that can provide better solutions.

According to Odaily Planet Daily, Bitcoin has fallen 23% in the first 50 trading days of 2026, marking its worst start to a year on record. January saw a 10% drop, followed by a further 15% decline in February. If the downtrend continues, this will be the first time in Bitcoin's history that it has recorded two consecutive months of losses (January and February), and could also be the weakest consecutive monthly performance since 2022. On-chain data platform Checkonchain points out that in typical declining years, the average index reading on the 50th day is 0.84, while the current reading is 0.77, highlighting the significant magnitude of this pullback. It is worth noting that Bitcoin fell 17% in 2025. Historically, years following a US presidential election typically outperform election years and most rising years, making this continued weakness particularly pronounced. (CoinDesk)

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According to an official announcement, Upbit will launch AZTEC spot trading on February 20th.