{"id":94554,"date":"2026-02-23T10:48:27","date_gmt":"2026-02-23T07:48:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=94554"},"modified":"2026-02-23T10:51:10","modified_gmt":"2026-02-23T07:51:10","slug":"macroeconomic-shocks-and-investor-panic-drive-bitcoin-below-65000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/macroeconomic-shocks-and-investor-panic-drive-bitcoin-below-65000\/","title":{"rendered":"Macroeconomic shocks and investor panic drive bitcoin below $65,000"},"content":{"rendered":"<p>On 23 February, bitcoin slid to $64,435 in just two hours. Other digital assets fell in its wake.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"658\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-34ac41353f6a2e9e-7048845671351796-1024x658.png\" alt=\"BTCUSDT_2026-02-23_09-38-13\" class=\"wp-image-275582\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-34ac41353f6a2e9e-7048845671351796-1024x658.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-34ac41353f6a2e9e-7048845671351796-300x193.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-34ac41353f6a2e9e-7048845671351796-768x493.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-34ac41353f6a2e9e-7048845671351796.png 1429w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute chart of BTC\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, bitcoin trades at $65,587 (-4.2% over 24 hours).<\/p>\n<p>Leading altcoins also retreated: Ethereum fell 5% (to $1,879), XRP by 4.5% (to $1.36). BNB slipped 3.7% (to $598), while Solana lost 7.7% to $78.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"324\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055-1024x324.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-23 094033\" class=\"wp-image-275583\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055-1024x324.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055-300x95.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055-768x243.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055-1536x487.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4bb2989f5bc80af-7048870013045055.png 1610w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Analysts linked the slump to a string of macroeconomic shocks. <a href=\"https:\/\/news.inbox.lv\/14zwkck-mass-riots-erupt-in-mexico?language=en\">Mass unrest in Mexico<\/a> cooled global appetite for risk assets. In the US, the pending home sales index fell to its lowest since 2001.\u00a0<\/p>\n<p>Pressure on prices intensified after US authorities <a href=\"https:\/\/www.bbc.com\/news\/articles\/cn8z48xwqn3o\">raised<\/a> import tariffs from 10% to 15%, sending the dollar and Wall Street futures lower.\u00a0<\/p>\n<p>Record yen strength also played a role as investors bet the Bank of Japan will turn more hawkish, prompting global funds to cut leverage.<\/p>\n<p>BTC Markets analyst Rachel Lucas <a href=\"https:\/\/www.theblock.co\/post\/390747\/bitcoin-sinks-below-65000\">noted<\/a> a lack of liquidity to cushion the impact. Spot trading volumes fell 59%.<br \/>Kronos Research CIO Vincent Liu called $60,000 a key support for bitcoin. In his view, a return to the $65,000\u201366,000 range would stabilise the market, while a break above $70,000 would signal a trend reversal. A rebound could be helped by inflows into <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> products and upcoming US jobless data.<\/p>\n<p>Coin Bureau warned that a drop below $60,000 would spark large-scale liquidations. In that case, trader losses could reach $1.78 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 $1.78 BILLION IN LIQUIDATIONS COULD HIT IF BITCOIN LOSES $60K <a href=\"https:\/\/t.co\/Jrc0Rv6e8O\">pic.twitter.com\/Jrc0Rv6e8O<\/a><\/p>\n<p>\u2014 Coin Bureau (@coinbureau) <a href=\"https:\/\/twitter.com\/coinbureau\/status\/2025811610116505890?ref_src=twsrc%5Etfw\">February 23, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Longer-term forecasts remain constructive. Over the past month, large investors have bought 200,000 BTC. Bitcoin\u2019s short-term <span data-descr=\"helps assess the efficiency of investments adjusted for risk\" class=\"old_tooltip\">Sharpe ratio<\/span> fell to -38.38 \u2014 levels seen at bear-market lows in 2015, 2019 and 2022 before strong rallies.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Fear and panic<\/h2>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">Fear and Greed Index<\/a> fell to 5 out of 100, an unprecedented low for the series.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4f96c89ceeebeddc-7048923599844191.webp\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-23 095347\" class=\"wp-image-275584\"\/><figcaption class=\"wp-element-caption\">Crypto Fear and Greed Index. Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative<\/a>.<\/figcaption><\/figure>\n<p>Investor anxiety stems from a prolonged bear trend. If bitcoin ends February in the red, it will be the fifth consecutive monthly decline \u2014 the longest losing streak in seven years.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"637\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-b39616aa6f3fd614-7048940458821892-1024x637.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-23 095705\" class=\"wp-image-275585\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-b39616aa6f3fd614-7048940458821892-1024x637.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-b39616aa6f3fd614-7048940458821892-300x187.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-b39616aa6f3fd614-7048940458821892-768x478.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-b39616aa6f3fd614-7048940458821892.png 1312w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coinglass.com\/today\">CoinGlass<\/a>.<\/figcaption><\/figure>\n<p>Santiment reported that bitcoin open interest fell to $19.5 billion, half the January peak of $38.3 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 Bitcoin just dropped -4.5% in the span of just 2 hours, falling to a market value of $64.2K for the first time since February 5th.<\/p>\n<p>\ud83c\udf0a Many longs have gotten liquidated, and <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> open interest has dropped to as low as $19.5B, under half of the 2026 peak of $38.3B back on\u2026 <a href=\"https:\/\/t.co\/ujhMRhTXTw\">pic.twitter.com\/ujhMRhTXTw<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/2025811240270831788?ref_src=twsrc%5Etfw\">February 23, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts highlighted that the drop occurred during a lull in social-media activity. Even so, negative user sentiment hit a two-week high.\u00a0<\/p>\n<p>After the $65,000 support broke, retail investors succumbed to <span data-descr=\"fear, uncertainty and doubt\" class=\"old_tooltip\">FUD<\/span>.\u00a0Experts noted that such retail panic has historically often catalysed swift price recoveries.<\/p>\n<p>In addition, US Google searches for <span data-descr=\"bitcoin will fall to zero\" class=\"old_tooltip\">\u201cBitcoin to zero\u201d<\/span> hit a record high.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Insight: U.S. Google searches for \u201cBitcoin to zero\u201d just hit a record high as <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> slid toward $60K, a spike that previously aligned with local bottoms in 2021 and 2022. <a href=\"https:\/\/t.co\/hc3nHsHgsS\">pic.twitter.com\/hc3nHsHgsS<\/a><\/p>\n<p>\u2014 CoinDesk (@CoinDesk) <a href=\"https:\/\/twitter.com\/CoinDesk\/status\/2025500474594545846?ref_src=twsrc%5Etfw\">February 22, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Historically, such spikes have preceded swift reversals. In 2021 and 2022, similar peaks coincided with local bottoms.<\/p>\n<h2 class=\"wp-block-heading\">Risk of sell-offs<\/h2>\n<p>Large investors who bought bitcoin over the past six months have accumulated unrealised losses of about $26 billion, according to CryptoQuant analyst Darkfost.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd34 The level of unrealized losses held by STH whales is becoming increasingly concerning.<\/p>\n<p>At present, roughly $26B in losses are being carried by whales who entered the market within the past six months. This ranks among the most significant levels observed this year.<\/p>\n<p>\ud83d\udca5 The\u2026 <a href=\"https:\/\/t.co\/VfAZJ4CCAN\">pic.twitter.com\/VfAZJ4CCAN<\/a><\/p>\n<p>\u2014 Darkfost (@Darkfost_Coc) <a href=\"https:\/\/twitter.com\/Darkfost_Coc\/status\/2025605334929199474?ref_src=twsrc%5Etfw\">February 22, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He said the current scale of losses among short-term holders is worrying, ranking among the highest this year.\u00a0<\/p>\n<p>He added that the yearly peak in whales\u2019 unrealised losses was set on 6 February, when, as bitcoin fell <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-tests-60000-support-triggering-billion%e2%80%91dollar-liquidations\">below $60,000<\/a>, the figure reached $32 billion.<\/p>\n<p>Darkfost noted that the main losses are now borne by those who opened positions late in the cycle.<\/p>\n<p>Holding underwater positions erodes confidence. The expert warned that fresh volatility could prompt emotional moves \u2014 up to panic selling.<\/p>\n<h2 class=\"wp-block-heading\">Buterin sells Ethereum<\/h2>\n<p>According to Lookonchain, Ethereum co-founder Vitalik Buterin has again stepped up sales of the second-largest cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">vitalik.eth(<a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a>) is selling <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> faster again.<\/p>\n<p>In the past 2 days, he has sold 1,869 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($3.67M). During that time, <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> fell from $1,988 to $1,875, down 5.7%.<\/p>\n<p>Last time he sold 6,958 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($14.78M), <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> dropped from $2,360 to $1,825 \u2014 a 22.7% fall.\u2026 <a href=\"https:\/\/t.co\/v2x6Q3ZTme\">pic.twitter.com\/v2x6Q3ZTme<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/2025749797655962058?ref_src=twsrc%5Etfw\">February 23, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the past two days, he sold 1,869 ETH worth $3.67 million. During that period, ETH fell 5.7% \u2014 from $1,988 to $1,875.<\/p>\n<p>Analysts also pointed to his previous large sale: Buterin disposed of 6,958 ETH worth $14.78 million, after which the token dropped 22.7% \u2014 from $2,360 to $1,825.<\/p>\n<p>Earlier, CryptoQuant analyst Burak Kesmechi <a href=\"https:\/\/forklog.com\/en\/news\/bitcoins-path-to-the-bottom-analyst-highlights-key-indicators\">outlined<\/a> four indicators to watch to determine bitcoin\u2019s long-term trend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 23 February, bitcoin fell to $64,435 in two hours, dragging other digital assets lower.<\/p>\n","protected":false},"author":1,"featured_media":94555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin slid to $64,435 in two hours as macro shocks spooked investors; altcoins fell in tandem.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,480,46,842],"class_list":["post-94554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-bitcoin-price","tag-ethereum","tag-politics"],"aioseo_notices":[],"amp_enabled":true,"views":"207","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin slid to $64,435 in two hours as macro shocks spooked investors; altcoins fell in tandem.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=94554"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94554\/revisions"}],"predecessor-version":[{"id":94556,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94554\/revisions\/94556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/94555"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=94554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=94554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=94554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}