Look, Bitcoin pulled back yesterday while the American stock market fell after Nvidia’s results, but the weekly story is still quite different. In practice, we’re seeing Bitcoin around 74K, down 0.67% over 24 hours, but for the week-to-date it’s still positive at +3.44%. Ethereum fell even more, -2.41% for the day, but it also holds a weekly gain of +3.27%. Basically that typical Friday move, with risk aversion persisting in the broader market.

What’s really going on, in reality, is deleveraging. According to analysts, when stocks start to fall, crypto is generally the first place where people trim positions. Volatility is high because liquidity is tight. But take a look: hourly returns were positive in the morning, which means most of the drop happened overnight and buyers were already coming back at those levels. So it’s not a trend reversal—just that typical macro market noise.

The really interesting part is in altcoins. Cardano is down -8.19% for the week (very different from the previous gains), Solana is at -1.68%, but BNB remains practically stable at +0.18% and XRP has retreated to -1.73%. Risk aversion persisting isn’t preventing appetite for altcoins from staying alive below the surface. Bitcoin is behaving like a macro asset—when stocks pull back, it pulls back too.

Meanwhile, Ásia’s stock markets are having their best February since 1998, with South Korean technology rising by about 20% this month. This capital rotating into AI infrastructure is diverting money away from Áções asiáticas. For crypto, the message is still the same: as long as there isn’t new consistent demand, these moves will continue. We’re stuck in that same narrow trading range since February, and with risk aversion persisting globally, it’s hard to see a significant breakout for now.