Crypto Market Crash Today: Why Bitcoin Dropped Below $64K and What’s Next

The crypto world is buzzing with worry right now. ? Bitcoin has fallen below $64,142, pulling the whole market cap down by $110 billion to $2.18 trillion. Altcoins like Bitcoin Cash took a big hit, dropping 15%. But why is this happening? Let’s break it down step by step in simple terms.

Quick Market Snapshot

At the time of writing, the total crypto market cap sits at $2.18 trillion. It lost a key support level at $2.22 trillion. Bitcoin leads the fall, breaking a bearish pattern. Bitcoin Cash (BCH) is down 15% to around $484, holding just above $480 support.

• Total Market Cap: $2.18T (down $110B)
• Bitcoin (BTC): Below $64,142
• Bitcoin Cash (BCH): $484 (-15% in 24 hours)

Broad selling across BTC and altcoins shows fear from macro news and bad events in crypto.

Main Reasons for the

1. Trump’s 15% Global Tariffs Announcement

US President Donald Trump announced a 15% rise in global tariffs. This hits risk assets like crypto hard. Investors are selling risky stuff and moving to safe ones like bonds or gold. Capital rotation causes cascade sell-offs. If this fear grows, market cap could drop to $2.13 trillion next support.

Tariffs mean higher costs for trade. This slows economy and makes people worry about growth. Crypto, seen as high-risk, suffers first.

2. Hacks and Project Shutdowns

Several bad news from crypto projects added fuel to the fire:

• Step Finance and SolanaFloor Shutdown: Both are closing right away after a January treasury hack. They couldn’t find funding or buyers. Step plans buyback for STEP token holders and 1:1 redemption for Remora rToken holders.
• USD1 Stablecoin Depeg: On February 23, USD1 dipped to $0.994 for minutes before recovering to $1. World Liberty Financial blames hackers who hacked cofounder accounts. They spread fake news to profit from shorts, sparking more fear.

These events show security risks in crypto. Hacks erode trust and trigger panic sells.

3. Macro Uncertainty and Weak Investor Mood

Overall, macro pressures are high. Inflation fears, rate hike talks, and global tensions make investors pull back. Crypto loses confidence when traditional markets wobble.

Bitcoin Price Analysis: Bearish Breakdown

Bitcoin is breaking down from a symmetrical triangle pattern. This signals more volatility ahead. Tech charts show a possible 14% drop, pushing BTC under $60,000 if sells continue.

Key levels to watch:

• Current: Below $64,142
• Fragile Support: $65,000 lost, next at $60,000
• Deeper Target: $55,341

Momentum is weak. Losing $65K opened door for liquidations. Panic could worsen it. But if BTC holds $64,142 and bounces, it could go to $67,394. That would kill the bear case short-term.

Bitcoin Cash (BCH): Hardest Hit Altcoin

BCH dropped 15% in 24 hours to $484. It’s barely above $480 support. Broader market drag hurts it most.

Watch for Death Cross: 50-day EMA crossing below 200-day EMA. This bear signal could send BCH to $458.

• Support: $480 (key), then $458
• Resistance: $516 (bounce target)

If buyers hold $480 and BTC recovers, BCH could bounce to $516. Link to Bitcoin helps altcoins too.

Recovery Outlook: Can We Bounce Back?

Not all doom. Recovery needs:

1. Stable Macros: If tariff fears ease and risk appetite returns.
2. Capital Inflows: Fresh money into crypto.
3. Key Reclaim: Market cap back above $2.22T.

For BTC, reclaim $64,142 shows buyer power. Sustained hold could spark rally. Same for BCH at $480.

Short-term, downside risks high. But crypto bounces fast on good news. Watch Fed talks, ETF flows, and on-chain data.

What Should Investors Do Now?

• Dollar-Cost Average: Buy dips if long-term bull.
• Set Stops: Protect from further drops.
• Watch News: Tariffs, hacks, BTC halving effects.
• Diversify: Don’t go all-in on one coin.

Volatility is crypto’s middle name. Today’s dip could be buying chance tomorrow.

Final Thoughts on

The combo of tariffs, hacks, and tech breakdowns explains the crash. Bitcoin under $64K drags all. But supports hold for now, and recovery paths exist. Stay calm, watch levels, and trade smart. Crypto markets turn quick – tomorrow could surprise.

Keep eyes on BTC $60K and market cap $2.13T. If holds, bulls may return.

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