February 24 News: Bitcoin continues to be under pressure amid market “extreme panic” sentiment, with the price briefly dropping to around $62,700. It then rebounded slightly above $63,000. Over the past 24 hours, the price has fallen by more than 3%, and the overall crypto market has weakened, with the total market capitalization of digital assets falling back to approximately $2.25 trillion. Meanwhile, mainstream assets such as Ethereum, XRP, and Solana have all experienced varying degrees of correction, indicating a clear cooling of risk appetite.
Presto Research analyst Min Jung pointed out that this recent dip below $63,000 mainly reflects worsening market sentiment rather than a single fundamental change. Macroeconomic uncertainties, such as tariff unpredictability and rising geopolitical risks, have driven funds toward safe-haven assets, reducing short-term demand elasticity for crypto assets. The Fear & Greed Index has dropped to 5, placing it in the extreme pessimism zone historically, suggesting market sentiment is near a cyclical bottom.
From a structural perspective, deleveraging remains the dominant factor. Recently, long liquidation has increased, open interest has significantly decreased, and negative funding rates persist, indicating a clear bearish bias in the futures market. Andri Fauzan Adziima, head of research at Bitrue, stated that the current sell-off appears more like a leverage squeeze rather than a full capitulation. Short-term holders are heavily impacted, but on-chain data shows that long-term holders have not yet engaged in large-scale selling, and the HODL indicator still suggests some funds are accumulating at low levels.
Market liquidity is also weak. The US spot Bitcoin ETF has experienced net outflows for the fifth consecutive week, with a recent single-day outflow of about $203 million. Ethereum ETFs have also seen outflows of approximately $50 million, reflecting increased institutional caution.
On the technical side, the $60,000 to $63,000 range is seen as a key support zone. If the price can hold this area, negative funding rates may trigger short covering and lead to a short-term rebound. However, a confirmed break below $60,000 could push the market further down toward the mid-$50,000 range, with an extreme scenario testing the $47,000 zone. Analysts emphasize that future focus should be on ETF fund flows, macro policy changes, and the speed of market sentiment recovery to determine whether Bitcoin is entering a deeper correction cycle.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Capital withdrawal accelerates! US Bitcoin and Ethereum ETFs see over $250 million in net outflows in a single day, with institutional sentiment clearly weakening.
February 24 News, there is a clear redemption wave in US spot Bitcoin and spot Ethereum ETFs. Data shows that on that day, the net outflow from the spot Bitcoin ETF was approximately $204 million, while the spot Ethereum ETF also saw an outflow of $49.48 million, with a total daily capital outflow of $253 million. This large-scale capital withdrawal occurred after Bitcoin's price briefly fell below the critical $65,000 level, combined with macroeconomic uncertainties caused by expectations of US tariff policies, leading to a significant decline in risk appetite in the crypto market.
GateNewsBot4m ago
Metaplanet CEO Warns of AI Impact on Employment: Machine Economy May Shift Toward Bitcoin as Core Store of Value
February 24 News, Metaplanet CEO Simon Gerovich recently stated that as AI-driven productivity rapidly advances, the global economy is gradually moving toward an era of "machine-to-machine trading," and Bitcoin could become a primary store of value within this system. This view stems from his response to a forward-looking study by Citrini Research, which outlines the potential for artificial intelligence to replace white-collar jobs on a large scale between 2026 and 2027.
Simon Gerovich pointed out that AI agents making financial decisions will not rely on traditional bank accounts, credit card networks, or government-issued currencies, but will instead prioritize more efficient, frictionless digital asset systems. Under the logic of machine-optimized transaction costs, on-chain payments, stablecoin settlements, and Bitcoin as a store of value are more aligned with the needs of an automated economy. Compared to the traditional payment network fee structure of 2% to 3%, low-cost blockchain settlements are more attractive.
GateNewsBot11m ago
Bitcoin drops below the $65,000 threshold: Trump's tariffs disrupt the market, will BTC test $60,000?
On February 24, news reports indicate that amid increasing uncertainty over the United States pushing forward a new round of global trade tariff policies, Bitcoin prices have fallen below the key psychological threshold of $65,000, and market risk appetite has significantly cooled down. Data shows that Bitcoin retreated from a high of approximately $66,465 on Monday to an intraday low of $62,952, a stage decline of nearly 5%, and a cumulative retracement of about 35% from the year's high, with market sentiment turning cautious.
This downward movement is closely related to the policy expectation that the Trump administration may impose an additional 10% tariff on multiple countries (potentially raised to 15% via executive order). Historical experience shows that escalating trade tensions often intensify volatility in the crypto market. The market still remembers that after the U.S. imposed high tariffs on China in 2025, the total market value of cryptocurrencies shrank significantly within two months, and Bitcoin's sensitivity to macro shocks once again became a focus.
GateNewsBot16m ago
Bitcoin Drops Below $63,000 Triggering $850 Million in Liquidations as Indicators Signal Further Downside Risk
Bitcoin price fell to $62,709 on February 24, 2026, extending its decline to approximately 50% from the October 2025 all-time high of $126,000, as a tech-driven selloff triggered by AI firm Anthropic's announcement erased $800 billion from US equity markets and led to $850 million in liquidations across top crypto assets over 48 hours.
The broader cryptocurrency market capitalization dropped 3% to $2.18 trillion, its lowest level in two years, with Ethereum falling to $1,810 lows am
CryptopulseElite20m ago
Bitunix Analyst: US and Japan May Be Planning Joint Intervention, Rate Cut Expectations Fluctuate Again
Market focus shifts to exchange rates and interest rates. The U.S. Treasury Department has proactively initiated a "currency check" to support the yen, possibly related to uncertainties before the Japanese general election. Meanwhile, divergence in Federal Reserve policy paths and labor market performance will influence rate cut expectations. In the crypto market, BTC prices fluctuate, and attention should be paid to how the macro environment affects liquidity flows.
GateNewsBot56m ago
