Published: 24 February 2026,06:25
Daily Market Analysis New
*Total crypto market cap fell ~5% below $2.3tn, with Bitcoin slipping under $64,000 and Ethereum nearing $1,800, as President Trump’s renewed tariff push undermined broader risk sentiment.
*Thin liquidity and elevated leverage triggered cascading liquidations, pushing market sentiment into extreme fear territory.
*Ethereum co-founder Vitalik Buterin sold roughly $18m worth of ETH this month, reinforcing downside risks and keeping Bitcoin vulnerable to a test of the $60,000 support zone.
Market Summary:
The cryptocurrency market entered a fresh bearish phase at the start of the week, with the total market capitalization dropping approximately 5 percent to fall below the $2.3 trillion threshold. Bitcoin has slipped beneath the $64,000 level, marking its lowest point in weeks, while Ethereum is approaching its monthly low near the $1,800 mark. The downturn reflects a broad-based deterioration in risk appetite following renewed uncertainty from President Trump’s latest tariff policy announced over the weekend.
The sell-off has been amplified by thin liquidity conditions and elevated leverage in the futures market, triggering cascading liquidations as sentiment soured. The Crypto Fear & Greed Index has plunged to “Extreme Fear” territory, registering a reading of just 5—one of the lowest levels in the index’s history and a level seen only three times since 2018 . This extreme bearishness reflects the intensity of the current capitulation phase.
Institutional and whale activity has accelerated the downward pressure. Exchange data indicates whale deposits on major platforms have surged, with $8.3 billion flowing into exchanges over the past month—a two-year high that suggests large holders are repositioning or preparing for further selling . Adding to the confidence erosion, Ethereum co-founder Vitalik Buterin has sold thousands of ETH worth approximately $18 million this month, including $3.67 million over the last 48 hours coinciding with a 5.7 percent price decline .
If broader macro and geopolitical pressures continue to weigh on sentiment, the crypto market is expected to remain under strong downside pressure. Bitcoin may challenge the next psychological support level at $60,000 in the near term, a breach that would represent a further leg down in what some analysts are characterizing as a “crypto winter” phase . Market participants are watching for any stabilization signals, though the absence of near-term catalysts suggests volatility is likely to persist.
Technical Analysis
Bitcoin has broken below its recent consolidation range, confirming a bearish shift in near-term structure. The downside move follows repeated failures to sustain upside momentum, with selling pressure now accelerating toward the next major psychological threshold at $60,000. A sustained break below this level would mark a significant technical deterioration and likely trigger an acceleration of the downward trend.
Momentum indicators strongly support the bearish outlook. The Relative Strength Index is trending toward oversold territory, reflecting persistent selling pressure and an absence of buying conviction. The Moving Average Convergence Divergence indicator was rejected at the zero line and continues to edge lower, confirming that bearish momentum is reasserting itself following a failed recovery attempt.
The $60,000 level represents the next critical support zone. A decisive daily close below this threshold would open a path toward deeper downside targets in the $56,000–$58,000 region.
Resistance Levels: 66,132.00, 71.296.45
Support Levels: 61,738.80, 57,310.85
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