Crypto Markets Slip as Bitcoin Falls Below $64,000
By [Your Name] – February 24, 2026
The cryptocurrency sector posted another round of losses on Thursday, with Bitcoin (BTC) slipping under the $64 k barrier and dragging the broader market into a 2½ % decline. Total crypto market capitalisation now sits near $2.27 trillion, down from the previous day’s peak.
Market Overview
- Bitcoin: From roughly $66 k on Monday morning, BTC traded around $63 700 at the time of writing, a 3 % drop on the day and about a 6 % loss for the week.
- Ethereum: ETH mirrored the move, down 3 % to about $1 840, marking a 5.4 % weekly decline.
- Top‑10 Altcoins: Most large‑cap assets posted modest losses. XRP slipped 1.7 % to $1.35, BNB fell 3.6 % to $585, and SOL dropped 3 % to $77. The only large‑cap coin in the green was Figure Heloc (FIGR_HELOC), up 1.5 %.
Technical Signals
Galaxy Digital’s head of firm‑wide research, Alex Thorn, flagged that Bitcoin’s weekly Relative Strength Index (RSI) is approaching levels historically seen only in deep bear markets—namely the late‑2018 correction and the mid‑2022 slump. Such an oversold reading suggests that further downside could be temporary, though it also underscores the market’s fragile state.
Wintermute’s analysts noted that BTC has repeatedly failed to breach the $70 k ceiling over the past two weeks, while ETH slipped below the psychologically significant $1 900 mark. The commentary highlighted thin order‑book depth and scant directional conviction in derivative markets, implying that current price action is being driven more by short‑term risk aversion than by fundamental shifts.
Liquidity, Liquidations and Movers
- Liquidations: CoinGlass data shows that roughly 137 000 traders were liquidated in the last 24 hours, wiping out about $413 million in positions. Bitcoin‑related contracts accounted for $156 million of those losses, with Ethereum responsible for $132 million; the remaining $22 million involved other altcoins.
- Big Winners: Among the top‑100 assets by market cap, PIPPIN posted the biggest single‑day gain, up 6.6 % to $0.77, while Monero (XMR) rose 3.4 % to $325.
- Big Losers: Bitcoin Cash (BCH) led the decliners, tumbling 11 % to $475.40, followed by NEXO, down 5.5 % to $0.80.
ETF Flows
Data from SoSoValue indicate continued outflows from crypto‑linked exchange‑traded funds:
- Spot Bitcoin ETFs: Net outflows of $203.8 million on Monday left total assets at $80.7 billion.
- Ethereum ETFs: Experienced $49.4 million of withdrawals, bringing net assets to $10.4 billion.
These figures suggest that institutional capital is pulling back amid heightened uncertainty.
Macro backdrop
The price weakness coincides with a broader wave of AI‑related anxiety in financial markets. IBM’s shares plunged about 13 % after Anthropic announced a tool that automates legacy COBOL modernization—an event that has spurred worries about large‑scale job displacement in the tech sector. Citrin Research warned that rapid AI adoption could erode consumer spending and put pressure on both financial and technology equities.
Adding to the uneasy sentiment, JPMorgan CEO Jamie Dimon likened the current credit and risk environment to the pre‑2008 crisis period, a comparison that has resonated with risk‑averse investors.
Analyst Takeaways
| Observation | Implication |
|---|---|
| BTC under $64 k, RSI in oversold zone | Potential short‑term bounce, but market remains vulnerable |
| Thin liquidity in derivatives | Lower conviction; price swings may be amplified |
| Significant trader liquidations | Heightened risk‑off positioning; could trigger further volatility |
| Outflows from Bitcoin/ETH ETFs | Institutional caution persists |
| AI‑driven macro risk | Wider market risk appetite may stay subdued, affecting crypto inflows |
What’s Next?
- Support Levels: Bitcoin’s next technical support lies near $60 k; a break below could accelerate the sell‑off.
- Liquidity: Watch for changes in futures and options open interest, which may signal whether traders are re‑entering with a more bullish stance.
- Macro News: Developments in AI regulation, corporate earnings (especially in tech), and central‑bank policy will continue to shape risk sentiment and, by extension, crypto prices.
The market’s current trajectory reflects a confluence of technical weakness, thin liquidity, and macro‑level risk aversion. While oversold indicators hint at a possible near‑term correction, broader uncertainties—particularly around AI‑related economic impacts—are likely to keep downside pressure alive for the foreseeable future.
Source: https://thedefiant.io/news/markets/crypto-markets-struggle-as-btc-slips-below-usd64k-amid-broad-sell-off
