2026-02-18 07:00 UTC | ⛏️ 937192

₿ $67,804 | 🥇 $4,912

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1. Bitcoin plunges as leverage unwinds rapidly
-- Bitcoin fell ~19% in recent week, trading mid-$60,000s with ~$3-4B in liquidations; broader selloff driven by rapid deleveraging rather than capitulation. Represents unprecedented distance (-2.88σ) from 200-day moving average, untouched in 10 years even through COVID.
-- Markets reassess crypto valuations amid AI disruption fears spilling into digital assets; technical dislocation creates potential buy opportunity if narrative risks stabilize.

2. Software stocks crater on AI disruption fears
-- ~$2 trillion wiped from software market caps as investors fear LLMs will replace service offerings in legal, IT, consulting, logistics sectors. Microsoft lost $357B in single session as investors pivot from AI winners to losers.
-- Market rotation reveals "shoot first, ask questions later" repricing; differentiation between AI beneficiaries and disruption victims now critical to valuations.

3. Kevin Warsh tapped as next Federal Reserve chair
-- President Trump nominated Warsh (former Fed Governor) to replace Powell in May 2026; creates significant uncertainty about future monetary policy direction. Warsh once criticized QE for inflation risks but recent views show evolved complexity.
-- Warsh's leadership could either restore orthodox central banking or align Fed with administration's pro-growth agenda; either path adds risk to fragile global environment.

4. Ukraine and Russia launch trilateral peace talks
-- US, Ukraine, Russia began third negotiating round in Geneva Feb 17-18; Russia simultaneously executed 425-drone/missile strike targeting energy infrastructure during talks. Secretary of State Rubio noted negotiations narrowed to "most difficult questions" with Russia's commitment uncertain.
-- Talks coincide with escalating military pressure; outcome unclear as Russia demands pro-Russian post-war government and rejects Western security assurances.