BTCDropsbelow$63K Yesterday, on Tuesday, February 24, 2026, Bitcoin (BTC) indeed broke below the $63,000 support level, hitting an intraday low around $62,500. This move marks a significant downturn, as the cryptocurrency has now lost roughly 50% of its value since its record peak of $125,000 in October 2025.
Here is a breakdown of why this is happening and what it means:
Why is BTC dropping?
Macro-Political Pressures: The market is reacting to President Trump’s recent announcement of a 15% global tariff, which has sparked fears of trade wars and economic instability.
Geopolitical Tensions: Escalating tensions with Iran have pushed investors toward traditional "safe havens" like gold, causing them to pull capital out of riskier assets like crypto.
Leverage Liquidations: On Monday alone, over $240 million in leveraged long positions were liquidated, accelerating the downward momentum.
Institutional Outflows: Spot Bitcoin ETFs have seen consecutive weeks of outflows, totaling nearly $4 billion recently.
Technical Outlook
Extreme Fear: The Crypto Fear and Greed Index has plunged to 11 (Extreme Fear), its lowest level in years.
Next Support Levels: Analysts are keeping a close eye on the $60,000 psychological floor. If that breaks, many expect a slide toward the $53,000 – $55,000 range.
Current Bounce: As of this morning (Wednesday, Feb 25), BTC has shown a slight recovery, bouncing back above $65,000 during Asian trading hours, though the overall trend remains bearish.
