Bitcoin declines Friday amid ongoing risk-off sentiment, though major tokens remain up on the week.

Bitcoin and the broader digital asset market entered Friday under pressure, with most large-cap tokens posting 24-hour losses as traders continued trimming risk exposure in tandem with equities following the post-earnings pullback in Nvidia.

Bitcoin was changing hands near $67,766 at publication time, down 1.5% on the day but still holding onto a modest 0.6% gain for the week. Ethereum slipped a similar 1.5% over the past 24 hours to trade just above $2,047. Both assets remain confined to the range established after the Feb. 5 selloff, with Wednesday’s rally toward $70,000 defining the upper bound and recent lows sitting closer to the middle of that channel.

Despite the weakness, analysts argue the move resembles a leverage flush rather than the start of a deeper structural downturn. Hourly price action turned positive Friday morning, suggesting much of the selling occurred overnight and dip buyers have since stepped in.

“What you’re seeing right now is Bitcoin trading with the broader risk market,” said Daniel Reis-Faria, CEO of ZeroStack. “Nasdaq fell after Nvidia earnings, and crypto followed. Bitcoin moved toward $70,000 quickly, and when equity momentum fades, that fast capital tends to unwind just as quickly in Bitcoin.”

Reis-Faria characterized the decline as a positioning reset rather than a trend break. “Leverage built up during the move higher, and when stocks begin to slide, crypto is typically the first area where investors reduce exposure. Liquidity remains tight, which keeps volatility elevated.”

On a weekly timeframe, the broader picture appears more constructive. Cardano led major tokens with a 7% gain over the past seven days. Solana rose 5.5%, Ethereum advanced 4.8%, and BNB added 4.3%, all outperforming Bitcoin’s comparatively muted weekly return and signaling continued appetite for select altcoins.

XRP stood out as an underperformer, falling 3.7% over 24 hours and slipping 0.1% on the week — the only major asset in negative territory across that timeframe.

Macro conditions provide additional context. Asian equities are tracking their strongest February performance since 1998, fueled by a surge in South Korean technology stocks, which have climbed roughly 20% this month amid renewed interest in AI infrastructure plays. The strength has helped the MSCI Asia Pacific Index outperform the S&P 500 for a third consecutive month, drawing capital flows away from U.S. markets.

For crypto, however, the overarching narrative remains unchanged. “We’re still trading within the same range,” Reis-Faria said. “Until consistent new demand emerges, these back-and-forth moves are likely to continue. Bitcoin behaves like a macro asset — when equities retrace, Bitcoin tends to follow.”