Bitcoin fell below $65,000 during early Asian trading hours on February 23, 2026. The drop triggered a cascade of liquidations that wiped out $230 million in leveraged long positions within an hour.
Following the sell-off, Bitcoin briefly dipped to around $64,400 on major exchanges, erasing recent gains and intensifying bearish sentiment across the crypto market.
Traders say that there were heavy over-leveraged bets on the upside, which unravelled rapidly and forced sales amplified the downward pressure. The move came amid broader uncertainty, including lingering effects from earlier tariff announcements and rotation out of risk assets.
In the given market conditions now, traders on Polymarket are heavily betting on Bitcoin’s downward trend. According to the traders, there are 72% chances that BTC price will crash to $55,000 in 2027.
The chances of Bitcoin falling to $45,000 are now higher than the chances of it reclaiming $100,000 this year. However, the highest odds of 75% still suggest that BTC will surge back above $75,000 before the year ends.
Analysts described the liquidation event as a classic leverage flush, not necessarily marking a final bottom but exposing how extended the prior rally had become.
You need to login in order to Like
Leave a comment