Key Takeaways
- Bitcoin dropped below $65,000.
- Tariff fears and Trump’s comments scared investors.
- Heavy selling and ETF outflows worsened the decline.
- Altcoins fell alongside Bitcoin.
- Crypto markets are volatile; investors should stay cautious.
TARIFF FEAR IS HERE, BITCOIN DROPS, MARKETS IN TEARS
WHO PUSHED BITCOIN BELOW $65K, FEAR OR NEWS? It was a rough week for Bitcoin. The cost dropped below $65,000 and approached $64,300. Many people sold their coins because they were afraid. The entire cryptocurrency market feels vulnerable when Bitcoin declines.
On February 20, the U.S. Supreme Court ruled that Donald Trump exceeded his authority in attempting to impose global tariffs, stating that the International Emergency Economic Powers (IEEP) Act does not grant the President inherent power to levy tariffs during peacetime.
The markets were a little quiet at the start. Trump, however, stated the next day that he might increase the new worldwide levy from 10% to 15%, the maximum permitted under Section 122 of the Trade Act of 1974.. This news worried investors, and fear came back.
A lot of investors transferred their funds to safer locations, such as gold. Prices dropped more quickly due to heavy selling. Last week, investors withdrew almost $316 million from US Bitcoin ETFs.
Long trades totaling over $450 million were liquidated. Bitcoin was also sold by certain cryptocurrency miners to cover their expenses. There was no Bitcoin left after mining business Bitdeer sold 189.8 BTC it had mined and 943.1 BTC from its funds. Prices dropped as more coins entered the market.
Technical Analysis
- The Bitcoin price has been going down since its big high last year. The chart shows a weak trend. The price is staying below an old support level. When support breaks, it means buyers are not strong.
- Trading volume is high while the price is falling. This shows many people are selling. Many traders who used borrowed money were forced to sell too. This made the fall faster.
- Some chart watchers see a broken “cup and handle” pattern. This means the price may stay weak for some time. Others say the price may go back to an old level called a point of control. That is a place where many trades have happened before.
- Right now, Bitcoin looks weak. If buyers come back, the price can rise again. If sellers stay strong, the price can fall more. Investors should stay calm and watch the market.
Top Reasons Bitcoin Went Down
- Tariff Fear: News about US trade taxes and Trump’s 15% tariff scared investors.
- Big Selling: Large Bitcoin holders sold coins. Bitdeer sold all 189.8 BTC it mined plus 943.1 BTC from reserves, leaving zero holdings.
- ETF Money Out: Investors pulled $316 million from US-listed Bitcoin ETFs last week.
- Liquidations: Traders with leveraged positions lost over $450 million in 24 hours.
- Weak Economy News: Poor US housing data added more fear.
Court News! Tariff Plan! What Happened First?
The US Supreme Court decided Learning Resources, Inc. v. Trump 6-3 on Friday, February 20, 2026. According to the court, the president added global duties in violation of the emergency trade law.
For a little period, markets were quiet following this announcement. Investors believed that trade taxes would cease.
Donald Trump responded on social media on Saturday, February 21. He stated that he may use the Trade Act of 1974 to increase the worldwide tariff from 10% to 15%.
Conclusion
Will trade tax fears keep Bitcoin price low? Bitcoin’s sharp decline demonstrates how quickly cryptocurrency values may fluctuate. Many investors were alarmed by Donald Trump’s remarks and concerns about trade levies in the US. They transferred funds to safer locations and sold coins. The market as a whole feels weak when large coins decline, as do smaller coins.
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