Bitcoin falls below $63,000, down over 4% intraday.
TL;DR
Bitcoin dropped below $63,000, losing over 4% in a day amid broader crypto market weakness. Technical indicators and high liquidations signal continued selling pressure, with market sentiment at extreme fear levels. Analysts are divided on support, with potential tests of lower levels like $58,000 if the decline persists.
Bitcoin falls below $63,000, down over 4% intraday.
Bitcoin Falls Below $63,000 Amid Broader Cryptocurrency Market Weakness
Bitcoin (BTC) fell below the $63,000 level on February 22, 2026, marking a decline of over 4% intraday and extending its correction from a record high of $126,298 set in October 2025. The selloff has intensified concerns about the cryptocurrency's near-term trajectory, with Galaxy Digital's Head of Research, Alex Thorn, warning of potential further declines to $63,000 due to a structural gap in on-chain ownership between $70,000 and $80,000.
The broader cryptocurrency market has mirrored Bitcoin's downward trend. Altcoins such as Bitcoin Cash (BCH), Hyperliquid (HYPE), and Pump.fun (PUMP) have extended losses, with BCH trading below $500 and HYPE slipping below $26. Technical indicators, including bearish crossovers in the Moving Average Convergence Divergence (MACD) and declining Relative Strength Index (RSI) levels, suggest continued selling pressure across these assets.
Market sentiment has deteriorated sharply, with the Fear and Greed Index registering an extreme fear level of 5—a historically rare reading last seen in August 2019 and June 2022. Over $458 million in liquidations occurred in the past 24 hours, with 92% linked to leveraged long positions, highlighting the vulnerability of highly leveraged traders. Bitcoin's price, now down approximately 48% from its all-time high, has also fallen more than 5% below its 2021 bull market peak.
Regulatory scrutiny and macroeconomic concerns have compounded the downturn. U.S. lawmakers have raised alarms about conflicts of interest in Trump-era crypto policies, while escalating trade tensions and global debt concerns have driven investors toward traditional safe-haven assets like gold.
Analysts remain divided on potential support levels. Historical patterns suggest Bitcoin could test the 200-week moving average ($58,000) or the realized price ($56,000) if the selloff persists. For now, the market awaits signs of stabilization amid heightened volatility.
