Bitcoin’s price stabilized near $68,500 as its market dominance approached 60%, despite a sharp drop in investor sentiment. Oscar-nominated actor Terrence Howard criticized the asset, claiming it is too tied to the traditional financial system and could be wiped out, a view met with swift rebuttals from the crypto community.
Bitcoin [BTC] traded at $68,522.50, gaining 1.85% over 24 hours and 4% on weekly charts. Its market dominance also climbed to 59.09%, nearing a key 60% level.
On the PBD Podcast, actor Terrence Howard shared a sharply critical view of the cryptocurrency. “Bitcoin is going to die. I don’t, I don’t mess with it,” Howard stated.
He argued that Bitcoin’s value remains tied to the U.S. dollar and the traditional financial system. Howard warned that digital assets could theoretically be “wiped out with the push of a button.”
The crypto community quickly countered these claims. Investor Bram Kanstein responded, “If you think Bitcoin can be ‘wiped out with the press of a button’ you have no clue dude.”
Another analyst pointed out that Bitcoin was holding well above $67,000 despite geopolitical uncertainty. They noted the next crucial zone is $69,000-$70,000, which could lead to a new monthly high.
Data from Santiment showed investor sentiment dropped sharply between February 4-6. The weighted sentiment metric fell to -6.978, signaling strong fear and likely causing short-term retail sell-offs.
Google search trends for “Bitcoin” reflected this volatility, reaching a maximum popularity score of 100 on February 8 before falling to 49. Analysts noted Bitcoin has historically followed similar cycles of retesting previous highs before moving higher.
Looking ahead, the market’s next move may depend more on geopolitical developments than internal crypto metrics. If tensions ease, Bitcoin could be viewed less as a wartime hedge and more as a risk asset that benefits from improved global sentiment.
