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Bitcoin falls below $65k on US tariff concerns
Bitcoin dropped below US$65,000 in early Asia trading on February 23, 2026, amid renewed concerns over US tariffs.
The cryptocurrency fell as much as 4.8% to around US$64,300, its lowest since February 6. Ether, the second-largest token, declined by 5.2%.
The drop followed statements from US officials affirming existing trade agreements despite a Supreme Court ruling that invalidated Trump-era tariffs.
On February 21, President Trump announced plans to increase the global 10% tariff to 15%, adding to market uncertainty.
Analysts noted that US$65,000 is a key support level for Bitcoin, with a break below potentially pushing the price toward US$60,000.
🔗 Source: Bloomberg
🧠 Food for thought
Implications, context, and why it matters.
The market reacts based on recent tariff shocks
- The latest price dip tracks past moves, with investors selling faster when trade policy gets threatened.
- When a baseline 10% tariff was announced in April 2025, Bitcoin fell right away from nearly US$88,000 to just over US$82,000 1.
- Earlier 2025 tariff plans aimed at Canada and Mexico erased almost US$1 billion in value, raising the stakes 2.
- The turbulence carries over from traditional markets, since institutional investors tie crypto to broader portfolios and cut riskier holdings like cryptocurrencies 3.
Tariff fears pull crypto between macro pressure and price support
- Tariff talk sparks a broad “flight to safety” as money shifts away from volatile assets like crypto during economic uncertainty 2.
- Selling pressure is testing the US$65,000 support level that analysts flagged in the current slide. A break below it could pull Bitcoin toward US$60,000 4.
- Short-term swings can spike. The longer-term effect stays uncertain, since past trade wars did not block markets for long and prices often steady once policy becomes clearer 5.
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