4 Reasons Bitcoin Price Could Freefall to $60,000 This Week

Jakarta, Pintu News – Bitcoin prices plunged below $66,000 (Rp1,110,714,000) on Monday (23/2) as a fresh sell-off pushed the market to its weakest level since early February. Traders reacted to the intense pressure following President Trump’s announcement of a new 15% policy, which triggered the sharp drop.

This drop extends a strong bearish trend and deepens concerns across the broader crypto market today. Let’s review the main reasons why Bitcoin price could potentially hit $60,000 (Rp1,009,740,000) this week.

Tariff Surprise Triggers Market Anxiety

Bitcoin slumped after President Donald Trump announced an increase in global tariffs. The tariffs will rise from 10% to 15% following a recent Supreme Court ruling. This announcement further depressed an already weak market.

Read also: The Impact of Trump’s 10% Global Tariff on Bitcoin and Crypto Market: What to Know?

Uncertainty increased as traders shifted into risk-off mode. The sharp drop led to massive liquidation across major exchanges. Positions worth over $461 million were wiped out in a matter of hours.

Around 134,764 traders were affected, with the majority of losses coming from long positions. More than $193 million worth of liquidations were experienced by Bitcoin alone. The largest individual liquidation was recorded at $61.5 million on the HTX exchange.

Heavy Selling on Exchanges Exacerbates Downtrend

The sudden wave of institutional-level selling that followed sparked panic about a possible coordinated squeeze. Statistics show that big players sold more than $4.5 billion of Bitcoin in about 35 minutes. Binance reportedly sold 53,875 BTC.

Wintermute offloaded 40,715 BTC, followed by Coinbase with 18,594 BTC. Further massive selling was done through wallets allegedly associated with Trump as well as through BlackRock. These sharp movements contributed to anxieties regarding market manipulation and increased bearish sentiment.

Fear and Greed Index Signals Extreme Fear

Market confidence fell sharply as the Crypto Fear and Greed Index fell to 5. This drop puts the market back intoExtreme Fear territory.

Read also: 3 Major Token Unlocks Worth Watching This Week, Potentially Up or Down?

Bitcoin and Ethereum ETFs also continued to experienceoutflows among investors. These products recorded withdrawals of more than $10 billion in four months. Bitcoin funds sawredemptions worth $7.17 billion, while Ethereum products were redeemed for a loss of $2.84 billion.

Broad Crypto Market Decline Adds Pressure

The broad cryptocurrency market fell 3.22% as of February 23, 2026. The total market capitalization decreased to $2.26 trillion.

Bitcoin fell by almost 5%, reversing its recent gains. Other major altcoins such as Ethereum , XRP (XRP), BNB , Solana (SOL), Dogecoin , and Cardano also fell between 3-6%. This general decline reinforces the expectation that Bitcoin may hit the $60,000 mark (Rp1,009,740,000) in the near future as selling pressure continues.

Will Bitcoin Price Fall Below $60k Soon?

As of this report, the price of BTC has fallen to $65,800 (Rp1,107,348,200). Bitcoin slipped after losing support levels near $66,000 (Rp1,110,714,000).

The MACD line crossed below and indicates weakening momentum. The histogram has also switched to the negative side. Meanwhile, the RSI bounced slightly fromoversold conditions, but its position remains on the lower side of the neutral level.

If Bitcoin’s long-term forecast remains stuck below $66,000 (Rp1,110,714,000), the bears could push the price towards $63,000 (Rp1,060,227,000). A deeper slump could retest the $60,000 (Rp1,009,740,000) level, where a break below that figure risks triggering a broader market panic.

Nonetheless, a recovery above $67,000 (IDR1,127,543,000) could pave the way towards the $69,000 (IDR1,161,201,000) level. Further confirmation of the return of bullish confidence will only come once the price manages to close above $70,000 (Rp1,178,030,000).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Top 4 Reasons Why Bitcoin Price Will Crash To $60K This Week? Accessed on February 27, 2026