Crypto Market Crash Today: Decoding the in Bitcoin and Beyond

The crypto world woke up to red charts today. The total market cap lost $96 billion in just 24 hours, now sitting at $2.21 trillion. Bitcoin fell 4% to around $64,987, while altcoins like LayerZero (ZRO) dropped a whopping 11%. What’s causing this ? Let’s break it down step by step.

The Big Picture: Why Is the Crypto Market Down?

Broad fear is gripping investors. A mix of global news, tech breakdowns, and low buying power has sparked heavy selling. Here’s what happened:

Macro Shocks: US President Donald Trump’s talk of 15% tariffs on global trade spooked everyone. Stocks tumbled, and crypto followed suit. Risky assets like Bitcoin hate uncertainty.
Sanctions Drama: Reports say some exchanges, like Bitpapa and Exmo, let Russians swap rubles for crypto to dodge sanctions. This raises red flags about regulation and could lead to crackdowns.
SEC Update: Good news for stablecoins! The SEC now says broker-dealers can use a small 2% cut on dollar-pegged stablecoins for capital rules, not 100%. But markets shrugged it off amid the panic.

Weak liquidity means small sells turn into big drops. Short-term holders are dumping, adding fuel to the fire.

Bitcoin’s Pain: Breaking Key Supports

Bitcoin led the . It slipped below $65,000, a key support level. Now at $64,987, BTC looks weak.

Technically, BTC broke its consolidation range. Sellers rule now. Next stop? $62,893 if panic grows. High volume on the way down confirms bears are strong.

But hope isn’t lost. If BTC climbs back above $65,000 and holds it, bulls could push to $67,674. Watch volume for clues.

Total Market Cap: Breached

The TOTAL cap dived under $2.22 trillion. It’s testing $2.21 trillion now. If sellers win, $2.13 trillion is next – that could spark more liquidations.

Risk-off mood hurts all coins: Ethereum, Solana, you name it. Low confidence means no quick bounce.

LayerZero (ZRO): The Biggest Loser

ZRO tanked 11.6% to $1.50. It failed to beat its 200-day moving average and fell below the 50-day one. Bears are in charge.

Support at $1.45. If it breaks, more pain. For recovery, ZRO needs $1.58 as new support, then aim for $1.75.

Asset
24h Change
Current Price
Key Support

Bitcoin (BTC)
-4%
$64,987
$62,893

Total Market Cap
-$96B
$2.21T
$2.13T

LayerZero (ZRO)
-11.6%
$1.50
$1.45

What Triggered the Sell-Off?

1. Trump Tariffs: 15% on imports? Global trade fears hit risk assets hard. Crypto acts like a high-beta stock in these times.

2. Sanctions Bypass: Exchanges enabling ruble-crypto swaps could face bans. This hurts trust in the space.

3. Tech Weakness: Moving average failures show momentum shift. No buyers stepping in.

4. Liquidity Crunch: Thin order books amplify moves. One big sell cascades.

What to Watch Next in This Crypto Dip

BTC at $65K: Hold or fold?
TOTAL at $2.21T: Break it, and pain deepens.
News Flow: More on tariffs or regs?
Volume: Rising sells mean trouble; buys signal rebound.

If markets calm, we could see a snap back. But sustained drops point to a correction phase. Stay cautious.

Final Thoughts on the

Today’s drop blends macro fears, regs, and tech fails. Bitcoin and altcoins feel the heat, but crypto’s volatile – bounces happen fast. Track supports, manage risk, and don’t FOMO in.

What’s your take? Will we see $60K BTC or a quick recovery? Drop thoughts in comments.

Prices as of writing; markets change fast. DYOR.

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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Blockmanity won’t be responsible for any loss of funds.

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Filed under: Altcoins - @ February 23, 2026 6:31 am