Bitcoin prices surged sharply again and briefly surpassed the US$69,900 level on Thursday (26/2/2026), rising more than 8 percent after previously dropping significantly below US$62,000. This increase marked one of the strongest daily rebounds seen in recent weeks.

According to data from CoinMarketCap, Bitcoin climbed from around US$64,200 to reach an intraday high of US$69,953 before slightly correcting to approximately US$68,400 at the time of writing. The rally pushed Bitcoin’s market capitalization back to around US$1.4 trillion, while daily trading volume jumped by 26 percent.

Not only Bitcoin, but most altcoins also posted gains. Ethereum (ETH) returned to the US$2,000 level after rising 7 percent. XRP (XRP) and BNB (BNB) recorded moderate increases in the range of 3 to 5 percent, while Solana (SOL) advanced about 7 percent. Overall, the total crypto market capitalization rose roughly 8 percent, approaching US$2.5 trillion once again.

Improving US Economic Sentiment Boosts Crypto Market

From a macroeconomic standpoint, markets responded positively to US President Donald Trump’s State of the Union address, in which he described the first 12 months of his leadership as “the greatest economic recovery in history.” He highlighted declining mortgage interest rates and a 1.7 percent drop in core inflation over the last three months of 2025.

Market participants interpreted the remarks as a signal of reduced short-term policy uncertainty. Previously, volatility related to trade tariffs and developments at the Supreme Court had sparked concerns across financial markets.

As uncertainty eased, investors tended to return to riskier assets such as equities and cryptocurrencies. This shift helped drive the recent rise in Bitcoin and altcoin prices.

ETF Inflows Turn Positive Again

Another factor supporting the rally was the return of capital inflows into spot Bitcoin Exchange-Traded Funds (ETFs) in the United States.

Data showed that Bitcoin ETFs recorded net inflows of US$257.7 million, or about Rp4.1 trillion, on Tuesday (24/2/2026). This figure ended a five-week streak of consecutive outflows that had previously totaled US$3.8 billion, or around Rp60.8 trillion.

Fidelity contributed the largest share with inflows of approximately US$83 million, or Rp1.3 trillion. Meanwhile, BlackRock, through its iShares Bitcoin Trust product, added nearly US$79 million, or about Rp1.26 trillion.

The renewed institutional inflows signaled that large investors were beginning to rebuild positions following the previous period of price pressure.

Jane Street Lawsuit and Speculation Over Routine Selling Pressure

The price increase also coincided with speculation circulating on crypto social media regarding a lawsuit involving global trading firm Jane Street.

The company was sued by the liquidators of Terraform Labs over allegations of using non-public information in trades related to the collapse of the Terra-Luna ecosystem in 2022.

Some analysts speculated that there had previously been a pattern of routine selling pressure around 10 a.m. US time, allegedly linked to algorithmic trading activity. After news of the lawsuit emerged, several market participants claimed that this pattern of selling pressure was no longer observable.

Although there is no public evidence proving that Jane Street systematically sold Bitcoin at specific times each day, the narrative spread rapidly and contributed to strengthening positive sentiment among retail investors.

Bloomberg ETF analyst Eric Balchunas described current market sentiment as feeling like a “threat that has disappeared.”

However, he also cautioned that the key question is whether the disappearance of the selling pressure is strong enough to sustain the rally over the long term.