The cryptocurrency market entered renewed stress on Feb. 16, 2026, as investors reacted to a sharp pullback that erased gains accumulated since last year’s presidential election. Bitcoin traded near $69,000 while market sentiment plunged into extreme fear, prompting heavier selling.
According to CryptosRUs, the Crypto Fear & Greed Index dropped to one of its lowest readings in recent history. “The Crypto Fear & Greed Index just dropped into extreme fear — one of the lowest readings in recent history. We’ve only seen similar levels during major stress moments like the 2018 bear market bottom, the March 2020 crash, and the 2022 FTX fallout.” (Ed. note: similar lows occurred in 2018 and 2022.)
The analyst note added that such washed-out sentiment can precede market resets. “When the crowd is focused on avoiding more pain rather than chasing upside. Markets are often closer to exhaustion than expansion. Sentiment is washed out, and that’s where new cycles quietly begin. 👀”
Retail attention moved toward several altcoins in recent hours. CoinGecko data, highlighted as mentioned, showed the top 15 most searched tokens, led by names such as Bittensor (TAO), Pi Network, and Solana.
The list also included Hyperliquid (HYPE), PEPE, Sui, Venice Token (VVV), Kaspa, ETH, Layer Zero, Pippin, Virtuals protocols, Near Protocol, and Pudgy Penguins. Market watchers noted the concentration of short-term retail searches around tokens with recent price moves, according to the posted update.
