1. Why did Bitcoin fall below $65,000?

Bitcoin dropped more than $2,500 in under two hours as Asian markets opened, falling to around $64,409. The decline came amid uncertainty over a new global 15% tariff regime imposed by President Donald Trump and rising geopolitical tensions. Investors appeared to reduce risk exposure ahead of potential trade and military developments.

2. How much was liquidated during the Bitcoin drop?

More than $200 million in long positions were liquidated during the selloff. This means traders betting on price stability or upside were forced out of positions as prices fell. Large liquidations can amplify short-term volatility.

3. What is the impact of Trump’s new 15% tariff regime on crypto markets?

The 15% global tariff, set to apply from February 24, has increased uncertainty in global trade. Markets often react negatively to trade disruptions because they can slow economic growth. Bitcoin, which has increasingly traded like a risk asset, fell alongside other risk-sensitive markets.

4. Why are European lawmakers reacting to the tariff deal?

Reports indicate European legislators may delay ratifying the US tariff agreement, citing “tariff chaos” and legal uncertainty. Lawmaker Bernd Lange said clarity and legal certainty are required before further action. Delays or breakdowns in trade agreements could heighten macroeconomic risks.

5. How does potential conflict with Iran affect Bitcoin?

Reports of a possible US strike on Iran have added geopolitical risk to markets. Iran produces about 3.13 million barrels of oil per day, and disruption in the Strait of Hormuz could impact over 20% of global crude supply. Rising oil prices and global instability typically pressure risk assets, including crypto.

6. Is $65,000 now an important technical level for Bitcoin?

After the recent drop, $65,000 is being viewed as a resistance level rather than support. If Bitcoin fails to reclaim this level, short-term bearish sentiment may persist. Technical levels often influence trader positioning in volatile markets.

7. Are crypto mining companies reacting to the downturn?

The article notes that some public digital asset mining companies and digital asset treasuries are gradually exiting or pivoting toward AI-related activities. This suggests capital reallocation within the sector. However, the scale of these shifts is not fully detailed.

8. Is this purely a crypto-specific issue?

No. The selloff appears tied to broader macro and geopolitical concerns, not just crypto fundamentals. Bitcoin increasingly reacts to global trade policy and geopolitical risk, similar to equities and other speculative assets.

Cryptocurrency

Image for illustrative purposes only. Not a real photo.

Bitcoin falls below $65K on tariff fears

Written by Brie CarterPublished Feb 23, 2026, 12:00 AM

Bitcoin fell below $65,000 on Sunday night, sliding more than $2,500 in under two hours as investors reacted to fresh trade and geopolitical uncertainty.

The cryptocurrency touched $64,409 on Bitstamp and declined more than 5% over 24 hours, triggering over $200 million in long liquidations as leveraged traders were forced to close positions.

Market participants pointed to President Donald Trump’s planned 15% global tariff regime, set to take effect on 24 February, as a key source of uncertainty weighing on risk assets.

European lawmakers signalled potential delays in ratifying related trade agreements, with Bernd Lange stating:

“Clarity and legal certainty are required before any further action can be taken,”

Citing what he described as “tariff chaos.”

The White House has previously outlined commitments under the EU tariff agreement, including $750 billion in US energy purchases and $600 billion in investment by 2028, though legal and political scrutiny continues.

Additional pressure came from reports of possible military action involving Iran, with former CIA officer John Kiriakou claiming US officials had decided on a strike despite ongoing diplomatic discussions.

Any escalation in Iran could affect oil markets, as the country produces more than 3 million barrels per day and the Strait of Hormuz, through which over 20% of global crude flows, remains a critical supply route.

At the time of reporting, Bitcoin price was $65,046.35.