Bitcoin has tumbled back toward $65,000, erasing recent gains above $70,000 as a broad market sell-off gripped risk assets on February 12, 2026. The cryptocurrency fell approximately 2% over 24 hours, mirroring sharp declines in major U.S. stock indices and a dramatic crash in precious metals.
The Dow Jones Industrial Average plunged 530 points (1.1%), led by an 11% collapse in Cisco shares following weak guidance. The S&P 500 also fell 1.1%, while the Nasdaq Composite sank 1.5%, with particular weakness in the technology sector. The iShares Expanded Tech-Software Sector ETF (IGV) tumbled 3%, bringing its year-to-date losses to 21% as investors reassess valuations amid rapid advancements in artificial intelligence capabilities.
Precious metals suffered an abrupt and severe mid-afternoon crash. Silver plummeted 10.3% to $75.08 per ounce, after earlier crashing as much as 11%. Gold fell 3.1% to $4,938 per ounce, having tanked up to 4.1% during the session. Copper also sank 2.9%. Reports suggest traders were dumping metals to free up cash or cover losses in other parts of their portfolios.
Macro strategist Jim Bianco noted the parallel decline, stating on social media, "Software stocks are struggling again today... Don't forget there's another type of software, 'programmable money,' crypto. They are the same thing." The sell-off indicates a broad-based hit to risk appetite across equities, cryptocurrencies, and traditional safe-haven assets like gold and silver.
