TLDR
- Bitcoin dropped over 3% to around $65,000 after Trump announced plans to raise global tariffs to 15%
- Miner Bitdeer sold its entire weekly BTC production (189.9 BTC), adding to market supply pressure
- The Crypto Fear & Greed Index hit 14 (extreme fear), keeping buyers on the sidelines
- Altcoins including Solana and XRP fell 2–4%, with Ethereum losing more than Bitcoin
- Gold rose over 1% as investors moved to safe-haven assets, diverging from Bitcoin
Bitcoin dropped sharply on Monday after U.S. President Donald Trump announced plans to raise global tariffs to 15%. The price fell as much as 5%, briefly going below $65,000, before recovering slightly to trade around $65,167.
The overall crypto market cap fell roughly 1.74% to $2.31 trillion. Bitcoin is now down 26% year-to-date and has lost over 47% from its October high of $125,000.
Trump also signaled last Thursday that he would decide within 10 days whether to launch military strikes against Iran. Analysts noted this added to investor anxiety about global trade disruptions.
Jeff Mei, COO at blockchain company BTSE, said the tariff news was pushing investors to sell crypto in anticipation of a broader market decline. He also cited the U.S. military buildup near Iran as a concern for global trade flows.
Markus Thielen from 10x Research said the drop was driven more by weak liquidity and low market conviction than any single headline. He expects Bitcoin could fall further toward $50,000 before finding a stable bottom.
Miner Selling Adds to Supply Pressure
Bitcoin miner Bitdeer sold its entire weekly production of 189.9 BTC this week, leaving zero BTC on its balance sheet outside of customer deposits. CEO Jihan Wu said this does not mean the company will never hold Bitcoin again.
The Bitdeer announcement came alongside U.S. spot Bitcoin ETF outflows of $315.86 million for the week, according to SoSoValue data. This points to reduced risk appetite from institutional investors.
From February 16 to February 20 (ET), Bitcoin spot ETFs recorded net outflows of $316 million, Ethereum spot ETFs saw net outflows of $123 million, while Solana spot ETFs posted net inflows of $14.31 million and XRP spot ETFs recorded net inflows of $1.8446 million.… pic.twitter.com/81OOTHxHRL
— Wu Blockchain (@WuBlockchain) February 23, 2026
Bitdeer’s stock (BTDR) also fell more than 2% on the day and was down nearly 28% over the past five days. The stock decline followed its announcement of a $300 million convertible senior note offering, which raised fears of share dilution.
Crypto Fear Index Hits Extreme Low
The CMC Fear and Greed Index dropped to 14, deep in “extreme fear” territory. Historically, the index needs to climb above 25 before markets show signs of sustained recovery.
Ethereum fell below $1,950, dropping around 3.9% — more than Bitcoin. Solana slid to around $83, and XRP fell to $1.38, with most major altcoins down 2–4%.
Despite the sell-off, Strategy’s Executive Chairman Michael Saylor shared a chart hinting at another Bitcoin purchase. He captioned it “The Orange Century,” suggesting the company may be approaching its 100th BTC acquisition.
Gold rose over 1% on Monday as investors moved to traditional safe-haven assets. Bitcoin had previously set a more than one-year low of $63,119 on February 5.
Bitwise CIO Matt Hougan said earlier this month that the current decline mirrors past four-year cycle downturns, with no single catalyst responsible.
