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The post Bitcoin Drops to $65K Again as ETH, XRP and Solana Followed appeared first on Coinpedia Fintech News The crypto market is falling again, down about 2% and now near $2.27 trillion. Bitcoin, the flagship cryptocurrency, has erased its recent gains and is down to $65,253. Ethereum fell 4% in the last 24 hours.  Other altcoins, including XRP, Solana, Dogecoin, and Bitcoin Cash, also dropped between 5% and 18%. So, what is pushing Bitcoin and Ethereum prices down today? Hot U.S. PPI Data Triggers Selling One major reason behind this drop is that the latest U.S. Producer Price Index (PPI) for January came in higher than expected.  January’s PPI came in at 2.9% year-over-year, above the expected 2.6%. Core PPI rose to 3.6%, also higher than forecasts. This suggests inflation remains strong, reducing the chances of an early interest rate cut by the Federal Reserve.  BREAKING: US CORE PPI: 3.6% EXPECTATIONS: 3% pic.twitter.com/WH5QELUiPG — Crypto Rover (@cryptorover) February 27, 2026 Higher rates usually make safer assets like bonds more attractive, pulling money away from riskier assets such as crypto. Liquidations Hit Traders Hard The sharp move caused heavy liquidations. Over 96,000 traders were wiped out in the past 24 hours, with total liquidations reaching around $260 million.  Nearly 70% of these were long positions, meaning traders who were betting on higher prices were forced to close. Bitcoin alone saw around $90 million in liquidations, while Ethereum recorded about $86.5 million. Bitcoin Set to Close February in the Red Bitcoin has erased all the gains it made on February 26, when it briefly moved close to $70,000. Now, the month is ending on a weak note, with Bitcoin down nearly 16.75% in February. This marks the first time in Bitcoin’s history that both January and February have closed in the…

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Filed under: News - @ February 28, 2026 12:24 am