Original digital assets fell as much as 4.8% to almost $64,300, the lowest since February 6. Other tokens fared worse, with Ether, the second largest token, falling 5.2%.
The losses come after U.S. officials said Sunday that trade deals already negotiated with partners would remain in place despite a Supreme Court ruling striking down President Donald Trump’s use of emergency authority to impose tariffs.
In a post on social media on Saturday, Trump said he would raise the 10% global tariff he announced a day earlier to 15%, creating even more economic turbulence. Dollar and U.S. stock futures fell in early trading Monday, while a gauge of Asian stocks rose 1%.
“The crypto market remains vulnerable, with market participants expecting support at $60,000,” said Caroline Mauron, co-founder of Orbit Markets. “Macro uncertainty is now weighing on the market, from geopolitical tensions in Iran to US tariffs, and could lead to a new test of that level.”
Bitcoin earlier this month wiped out the remaining gains it had made since Trump won re-election in November 2024. Hopes surrounding Trump’s more crypto-friendly second administration sent Bitcoin to a record price above $126,000 last October, just before a massive sell-off that has since left the digital asset reeling. The broader crypto market has seen more than $2 trillion in value wiped out, with the market for smaller tokens particularly hard hit.
In the past 24 hours alone, the crypto market has lost another $100 billion in value, according to CoinGecko data. Data from Deribit, a crypto derivatives exchange, shows that downside protection is concentrated around $60,000.
Bitcoin was trading at around $64,800 at 11 a.m. in Singapore, below the $65,000 threshold that Rachael Lucas, an analyst at BTC Markets, said was a key support level for the token.
“A decisive break below that puts $60,000 in play,” she said. “The upside is that bulls need to claw back $70,000 to change the narrative.”
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Published on February 23, 2026
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