Bitcoin Update: Navigating the Drawdown

Pete Janney & Greg Cipolaro
February 11, 2026

In this episode of the NYDIG Bitcoin Update, Pete Janney and Greg Cipolaro examine bitcoin’s recent drawdown and the broader risk-off shift across digital and traditional markets. They discuss liquidation dynamics, leverage trends, derivatives positioning, and key technical levels that could signal a bottoming process. The conversation also explores altcoin underperformance, volatility conditions, and the role of bitcoin’s historical four-year cycles. Despite near-term uncertainty, they highlight continued institutional engagement, infrastructure buildout, and sustained interest in custody, tokenization, and stablecoins as evidence of crypto’s enduring structural momentum.

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