Tech-Led Stock Rally Fails to Lift Crypto as Ether, XRP, and Solana Slide

19 Febuary 2026

Key Takeaways

• Major cryptocurrencies declined even though there was an increase in Asian and U.S. stock markets based on technology.
• Weakness was attributed to the appreciation of the dollar and insecurities regarding interest rate policy of the Federal Reserve.
• Crypto rallies are not sustained since market demand is very poor and unreliable.
• Gold is still doing well as a safe haven, which undermines the bitcoin story of digital gold.

Large cryptocurrencies lost ground on Thursday, Ether, XRP, and Solana performed the worst, despite the rise of Asian and U.S. equities after a fresh surge in technology stocks optimism. Market data indicated that bitcoin was trading close to $66,700, about 1.7 per cent below in 24 hours whereas ether fell to approximately $1,965. XRP dropped almost 5 percent, Solana fell nearly 4 percent and BNB and Dogecoin were also trading in the red which is an indication of widespread weakness and not a token issue.

The pullback was achieved against the improvement of regional equities. Asian markets saw gains in thin holiday trading, which Asian markets were boosted by strength in technology stocks, and U.S. stocks regained their footing following the signing of a multi-year deal by Nvidia to provide AI chips to Meta Platforms. Regional indices followed by MSCI had recorded slight improvements, indicating the improvement in sentiment in the traditional markets.

Crypto, nevertheless, was not a part of the rally. Rebounds of prices in the recent past have been there in a few seconds and there have been consistent selling pressures anytime the momentum is lost. Although the market has ceased to break sharply as it was the case at the beginning of the year, it is also not performing at the current spot level that can sustain a more permanent recovery.

One of the factors that have contributed to the weakness is the stronger U.S. dollar, which strengthened following minutes presented by the Federal Reserve, which stated that policymakers were not in a rush to reduce the interest rates. Certain authorities even indicated that there would be potential increases in case inflation would be intractable. The stronger dollar generally squeezes the liquidity of the world, which puts a heavy burden on risk assets like crypto-currencies.

Conversely, gold has remained relatively strong as investors look to its conventional safe havens amid confusion on geopolitics, monetary policy and inflation. This schism has deepened the controversy around the long-standing bitcoin story of digital gold because the cryptocurrency continues to be even more volatile than the precious metal during macro stress.

Alex Tsepaev, the chief strategy officer of B2PRIME Group, says the resilience of gold can be explained by the fact that investors want to be simple in unstable markets.

“I believe that gold will continue to be a default haven and will probably attempt to break through the tough $5,000–$5,100 ceiling. That said, once risk appetite returns, ETF flows stabilize, and U.S. regulations stop dragging, Bitcoin may recover considerably more quickly,” he said

“After all, Bitcoin attracts liquidity faster than gold, partly because it’s still sometimes referred to as a speculative asset.”

In the meantime, geopolitical risks are also in the spotlight due to the continued U.S.-Iran tensions accompanied by the high oil prices. It is against this background that cryptocurrencies are stuck between a series of relief rallies and a yet not fully conducive macroeconomic environment to maintain a long-term upside.

In the meantime, traders seem conservative. Interest rate uncertainty, a strong dollar, and traditional havens among investors are still head winds on crypto markets, as global equities sentiment improves, even though increasingly.