XRP, Pi and Dogecoin Slide as Bitcoin’s Rally Falters at the $70,000 Mark
February 16 2026 – Crypto Market Watch
Bitcoin’s short‑lived surge stalls
After a volatile fortnight that saw Bitcoin tumble to a 15‑month low of $60,000 on February 6, the flagship cryptocurrency managed a rapid rebound, climbing roughly $12,000 to breach the $70,000 barrier on the weekend. The ascent, however, proved temporary. By Sunday evening the price slipped back to $68,000, where it found modest support.
At press time Bitcoin is trading just under $69,000, with a market capitalisation of $1.375 trillion and a dominance of 56.6 % over the broader crypto ecosystem.
Altcoins turn red
The pullback in Bitcoin reverberated across the market, pushing most major alts into the red:
| Asset | Recent peak (24 h) | Current price* | % Change (24 h) |
|---|---|---|---|
| Ethereum (ETH) | $2,100 (rejected) | < $2,000 | –2.8 % |
| Ripple (XRP) | $1.65 (briefly) | < $1.50 | –7.0 % |
| Dogecoin (DOGE) | $0.11 (top gainer among large‑caps) | ≈ $0.10 | –9 % |
| Pi Network (PI) | > $0.20 (rejected) | ≈ $0.17 | –15 % |
*Prices quoted from CoinGecko and major aggregators at the time of writing.
XRP, which had surged above $1.65 earlier in the day, was capped and retreated beneath the $1.50 psychological level. Dogecoin, after briefly posting the strongest gain among large‑cap tokens, fell back to the $0.10 region, erasing most of its daily upside. Pi’s native token, still trading on a limited number of exchanges, slipped to just above $0.17 after a sharp rejection near $0.20.
Other notable losers include Monero (XMR), Zcash (ZEC), Wolf (WLFI) and Mantle (MNT).
Market‑wide impact
The overall crypto market lost roughly $70 billion in a single day, shrinking the total market capitalisation to $2.425 trillion. Bitcoin’s share of that total remains just over half, underscoring its continued role as the market’s bellwether.
Analysis
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Resistance at $70k – Bitcoin’s inability to sustain a breakout above $70,000 suggests that the level is now acting as a key resistance zone. Traders appear to be taking profits after the rapid $12,000 rally, and the lack of fresh buying pressure points to a short‑term consolidation phase.
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Altcoin correlation – The bearish turn in BTC typically drags down risk‑on assets. Ethereum’s slide below $2,000 and XRP’s breach of the $1.50 barrier illustrate how quickly altcoins can lose momentum when Bitcoin hesitates.
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Liquidity and macro backdrop – Recent macro data, including lower‑than‑expected US inflation and mixed central‑bank signals, have kept risk appetite volatile. With the broader equities market also showing signs of caution, crypto investors are shifting toward cash or stablecoins, amplifying sell pressure.
- Potential catalysts – Upcoming events that could reignite a bullish move include the next US Fed meeting, the release of key on‑chain data (e.g., Bitcoin network activity), and the approach of the Pi Network’s “important deadline” that may stimulate new user inflows.
Key Takeaways
- Bitcoin’s rally was halted at $70K, and the price now trades near $68‑69K, indicating a short‑term support zone rather than a decisive breakout.
- XRP, Pi, and Dogecoin posted notable declines, with XRP falling below $1.50, Pi sliding to $0.17, and Dogecoin losing 9% in 24 hours.
- The total crypto market cap fell by $70 billion, settling at $2.425 trillion, reflecting a broad risk‑off sentiment.
- Market participants should watch the $70K resistance and $66K‑$68K support levels for Bitcoin, as well as critical price thresholds for major alts (ETH $2,000, XRP $1.50) to gauge the next directional move.
Investors are advised to perform their own due diligence and consider the heightened volatility before making allocation decisions.
Source: https://cryptopotato.com/xrp-pi-and-doge-tumble-as-btcs-rally-was-stopped-at-70k-market-watch/
