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Your day-ahead look for Feb. 17, 2026
BIP-110 is a "soft fork," a type of upgrade that works smoothly with existing Bitcoin setups without breaking the blockchain. It seeks to set strict temporary limits on non-money data in transactions, particularly Ordinals inscriptions that jam images, videos or tokens into Bitcoin blocks.
Implementing the same could help fight "spam" and unclog the network, making it cheaper for regular people to use, keeping the blockchain focused on payments. The onchain activity has been close to negligible in recent months.
However, Blockstream's CEO, Adam Back, disagrees, calling the proposal an attack on Bitcoin's reputation as reliable money.
It's worse as it is an attack on bitcoin's credibility as a store of value, it's security credibility, and a lynch mob attempt to push changes there is not consensus for. spam is just an annoyance, it all definitionally fits within the block-size. the op returns are 4x smaller," Back said on X.
Several others echoed this, arguing the fix might hurt trust more than spam does.
In the meantime, markets offer little excitement, as bitcoin continues to trade back and forth between $67,000 and $70,000, with prices approaching the lower end of the range as of writing. The CoinDesk Memecoin Index (CDMEME) is down 3% over 24 hours alongside 1% declines in other major tokens such as ether and BNB.
The decline of the largest coins is an ominous sign for smaller ones, as it may soon pull them down with it at an accelerated pace," Alex Kuptsikevich, senior market analyst at The FxPro, said in an email.
He added that the market has entered a "stress zone" but has not yet reached the final capitulation stage. "To form a 'true bottom,' a peak in loss-taking and a complete exhaustion of selling pressure are necessary," he noted.
In traditional markets, dollar shorts hit their highest level in over a decade, while the recent decline in the inflation-adjusted yield on the U.S. 10-year note offered hope to battered bitcoin bulls. Stay alert!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today
Bitcoin is struggling to build any upward momentum, even as the key panic gauge pulls back from its early-month high and hints at renewed stability.
BofA survey flags dollar bearish bets at over a decade high. Here's what it means for bitcoin (CoinDesk): Investors are most bearish on the dollar in over a decade, per Bank of America's latest survey and that extreme bet could breed bitcoin volatility, just not the way crypto bulls have become used to.
Pound and bond yields Fall as weak data Cements rate-cut bets (Bloomberg): The pound is falling below $1.36 after data showed wage growth slowed more than expected to 4.2% in December, while unemployment ticked up.
US and Iran begin nuclear talks in Geneva as threat of war looms (Reuters): Iran's supreme leader warned that U.S. attempts to depose his government would fail, as Washington and Tehran began nuclear talks amid a U.S. military buildup in the Middle East
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