Introduction
Cryptocurrency markets are sharply lower on Monday, February 23, 2026, as global trade tensions escalate. Bitcoin and Ethereum lead the decline, dragged down by renewed investor caution amid U.S. tariff uncertainty. This update delivers the latest price movements, key drivers, and what market watchers are tracking next.
Market Snapshot: Sharp Drops Across Major Cryptos
Bitcoin has fallen approximately 3–5% over the past 24 hours, trading around $65,800 and briefly dipping below $65,000. The decline stems from investor unease following President Trump’s announcement of a 15% global tariff under Section 122 of the Trade Act, replacing tariffs recently struck down by the Supreme Court .
Ethereum is down roughly 4.5%, slipping below $2,000 . Other altcoins like XRP have also dropped—XRP by about 3.3% .
Why It Matters Now
The tariff announcement has rattled markets, prompting a risk-off shift. Bitcoin’s 25% drop since the start of 2026 underscores growing fragility . Meanwhile, gold is rallying—up 1.6% to 1.4%—as investors seek safety . This divergence challenges Bitcoin’s “digital gold” narrative.
Broader Market Context
Bitcoin has lost nearly half its value since its October 2025 peak of $126,000, now hovering near $63,000 . The broader crypto market has shed an estimated $2 trillion in value since early October .
On-chain data shows XRP has recorded its largest realized loss since 2022, a signal closely watched by traders . Bitcoin’s market cap has dropped by $1.21 trillion over the past 139 days, marking one of its steepest drawdowns .
Ethereum’s co-founder, Vitalik Buterin, has sold significant amounts of ETH—1,869 ETH (~$3.67 million) in the past two days—coinciding with a 5.7% price drop .
Technical Indicators & Sentiment
Bitcoin is trading near $64,550, down 5.3% today and nearly 28% lower over the past month . The Fear & Greed Index reads 9—Extreme Fear—while technical indicators skew bearish (83% negative) . Key support lies between $66,430 and $67,514, with resistance around $68,600–$69,700 .
Ethereum’s technical sentiment is also bearish: 24 indicators negative vs. 11 positive. Its RSI stands at 35, suggesting a neutral-to-oversold condition .
What Traders Are Watching Next
- Whether Bitcoin holds the $65,000 level or slips toward the $60,000 area.
- Any further sales by Vitalik Buterin and their impact on ETH.
- On-chain signals like realized losses and sentiment shifts in XRP.
- Broader macro developments—especially U.S. trade policy and global risk appetite.
Conclusion
Cryptocurrency markets are under pressure today, with Bitcoin and Ethereum leading losses amid renewed tariff-driven uncertainty. On-chain data and technical indicators point to heightened caution. Traders will be watching key support levels, sentiment shifts, and macro developments closely in the coming days.