4 reasons behind today’s brutal Crypto market crash

Crypto market tanks today! Bitcoin below $65k, massive liquidations... Discover the 4 key reasons behind this sudden crash. Click to learn more!

Written by Charles Ledoux

Adapted by February 23, 2026 at 17:50 by Simon Dumoulin

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Trump, Tariffs and Macro: The Perfect Storm for a Crypto Crash?

The first shockwave came from the macroeconomic sphere. The announcement by Donald Trump of a global tariff increase to 15% has cast a polar chill over risk markets. This climate of geopolitical and economic uncertainty is pushing investors to turn away from volatile assets like cryptocurrencies to seek refuge in traditional safe havens or cash. Rumors of tensions with Iran are also adding to the beginning of chaos in Mexico. This creates a macroeconomic cocktail that’s cooling crypto investors.

Meanwhile, the Spot Bitcoin ETFs in the United States are recording concerning net outflows for several sessions. Institutional appetite, which had carried the market in recent months, seems to be waning in the face of these uncertainties. Without this massive buying support, the order book is thinning, leaving sellers free rein to push prices downward.

Whales and Liquidations: The Snowball Effect

On the blockchain, the signals are equally red. On-chain data reveals that whales have transferred massive quantities of BTC and ETH to exchanges in the last 24 hours, a movement that generally precedes massive selling. Even Vitalik Buterin, co-founder of Ethereum, was spotted moving funds, fueling speculation and ambient nervousness.

This selling pressure has triggered a cascade of brutal liquidations. More than $470 million in positions (mostly longs) have been liquidated in a single day. This “long squeeze” phenomenon forces traders to sell automatically to cover their losses, accelerating the price decline. With Bitcoin breaking its $65,000 support and Ethereum sliding below $1,900, the market’s technical structure is now weakened.

With market sentiment at its lowest and macroeconomic pressure showing no signs of weakening, all eyes are focused on the $60,000 – $62,000 zone. If this critical support were to give way, the correction could transform into a genuine crash.

$BTC | 👁️ https://t.co/97JoX8w6iG
— Killa (@KillaXBT) February 23, 2026

The scenario of a Bitcoin rebound to $72,000 after liquidating the low of $65,000 is also possible, as trader Killa reminds us. For this to happen, Bitcoin must maintain above $65,000.

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Charles Ledoux

Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.

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