Bitcoin experienced a fifth consecutive month of declines in February 2026, falling approximately 24% in value, as global markets reacted to renewed trade tensions. The cryptocurrency briefly dipped 3%, reaching around $35,550 on February 24th, before partially recovering.
The downturn coincided with an announcement by former U.S. President Donald Trump regarding his intention to implement a 15% tariff on all global imports, triggering a broader risk-off sentiment across financial markets. Rachael Lucas, a cryptocurrency analyst at BTC Markets, stated that the proposed tariff increase rattled risk assets generally, and Bitcoin was not immune. “While many view Bitcoin as ‘digital gold,’ it is still traded as a risk-on asset,” Lucas explained. “In times of heightened macroeconomic uncertainty, capital flows towards traditional safe havens, and Bitcoin has yet to fully achieve that status.”
The selling pressure has persisted for four months, repeatedly testing key support levels for Bitcoin. Alex Kuptsikevich, chief market analyst at FxPro, noted that Bitcoin briefly fell below $60,000 earlier in February, but a struggle between buyers and sellers has emerged around the current price point. Kuptsikevich indicated that the outcome of this struggle will determine whether the market will stage a recovery or continue its downward trend.
According to analysis from IG Australia’s Tony Sycamore, Bitcoin is currently approaching its 200-week moving average, which sits at $58,503. Sycamore’s research suggests that Bitcoin’s ability to maintain a position above this level will be crucial for price stability. A breach of the $58,000 to $60,000 support zone, however, could trigger a more significant correction.
The broader cryptocurrency market has also reach under considerable pressure. CoinGecko data shows that the total market capitalization of the cryptocurrency sector fell by more than $120 billion over the February 23rd and 24th trading sessions. On February 24, 2022, Bitcoin closed at $37,898.63, up 1.7% for the day, according to StatMuse Money. The price has since risen significantly to $64,882.76 as of the latest available data.
