{"id":22630,"date":"2026-02-24T08:52:20","date_gmt":"2026-02-24T08:52:20","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-loses-65k-as-trump-tariffs-loom-will-it-crash-under-60k-next\/"},"modified":"2026-02-24T08:52:26","modified_gmt":"2026-02-24T08:52:26","slug":"bitcoin-price-loses-65k-as-trump-tariffs-loom-will-it-crash-under-60k-next","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-loses-65k-as-trump-tariffs-loom-will-it-crash-under-60k-next\/","title":{"rendered":"Bitcoin price loses $65K as Trump tariffs loom, will it crash under $60K next?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin price has lost the $65,000 psychological support level as investors remain wary of the impact of new U.S. global tariffs on trade.<\/p>\n<div id=\"cn-block-summary-block_d1995479f80d8b523e1af9b9c11cafa7\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price lost the $65,000 psychological support level on Monday.<\/li>\n<li>Trump\u2019s new tariffs and U.S.-Iran war concerns are keeping investors at bay from risky assets.<\/li>\n<li>A confirmed bearish double top pattern puts more downside pressure on Bitcoin\u2019s price.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Bitcoin (BTC) price fell roughly 5% from its Monday high of $66,465 to an intraday low of $62,952, extending losses to 35% from its yearly high.<\/p>\n<p>The price tanked amid market uncertainty ahead of the latest 10% tariffs on all nations for a 150-day period unless exempted. This comes after the administration rerouted its strategy under Section 232 after the U.S. Supreme Court blocked previous trade actions.<\/p>\n<p>While the current 10% rate comes lower than the 15% feared earlier, the Trump administration is working to raise the figure to 15% through a separate order that the President would need to sign.<\/p>\n<p>Investors have a clear memory of how previous U.S. tariffs on key trading partners led to significant volatility in the crypto market. Following the 145% tariff hike against China implemented in April 2025, the total crypto market cap fell by 20% to $1.8 trillion within two months. Bitcoin has historically borne the greatest brunt from such geopolitical friction.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Aside from the tariff drama, another key concern lowering investor appetite is the potential for a U.S.-Iran war. Reports reveal that the U.S. is preparing for military action, while the President himself has threatened to launch an attack on Iran within 10 days through a Truth Social post on Thursday, Feb. 19.<\/p>\n<p>Bitcoin has so far failed to maintain its status as a safe-haven asset. It has remained in a downtrend since the beginning of 2026 while traditional assets like gold showed signs of strength amid the ongoing macroeconomic and geopolitical stress.<\/p>\n<p>The liquidation cascade that followed the drop under the $65,000 psychological support, where several stop losses were likely concentrated, has also intensified the decline.<\/p>\n<p>Notably, over $218 million in leveraged long positions were wiped out across derivatives markets in the past 12 hours alone. Over the 24-hour period, total crypto liquidations climbed to roughly <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/liquidations\" target=\"_blank\" rel=\"nofollow\">$369 million<\/a>, with Bitcoin accounting for nearly $152 million of that figure.<\/p>\n<p>Meanwhile, the 12-spot Bitcoin ETFs have also failed to provide any support. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"nofollow\">Data<\/a> from SoSoValue show these investment vehicles recorded $203.8 million in net outflows over the past day, largely led by BlackRock\u2019s IBIT, which saw $116.4 million in redemptions.<\/p>\n<h1 class=\"wp-block-heading\">Bitcoin price analysis<\/h1>\n<p>The daily BTC\/USDT price chart shows weakness building for the bellwether asset over the coming weeks.<\/p>\n<p>Bitcoin price action has formed a double top pattern, a major bearish indicator in technical analysis. It has also formed a bearish pennant pattern since mid-January, as reported by crypto.news earlier, adding to the negative outlook.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Bitcoin price has formed a bearish double top pattern on the daily chart \u2014 Feb. 24 | Source: crypto.news<\/figcaption><\/figure>\n<p>Furthermore, the MACD lines appear set for another bearish crossover below the zero line. The Aroon Down showing a 100% reading also suggests that bears are still dominating the market.<\/p>\n<p>As such, Bitcoin is most likely to drop to $60,000 next as bears target the key psychological floor. This level resonates with the target calculated by subtracting the height of the double top pattern from the breakout point.<\/p>\n<p>A drop below $60,000, which serves as the last line of defense, could trigger a much deeper correction toward the $50,000 range.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has lost the $65,000 psychological support level as investors remain wary of the impact of new U.S. global tariffs on trade. Summary Bitcoin price lost the $65,000 psychological&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=22630"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22630\/revisions"}],"predecessor-version":[{"id":22631,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22630\/revisions\/22631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11639"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=22630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=22630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=22630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}