On the night of February 23, 2026, the price of Bitcoin dropped below the psychological threshold of $65,000. This marked a continuation of the downward trend that has been ongoing since October 2025 after reaching an all-time high of over $125,000. At the time of writing, Bitcoin was trading at $65,778.
This is reported by Finway
Ethereum and Solana Show Significant Decline
The decline in Bitcoin negatively impacted the entire cryptocurrency market. Ethereum fell nearly 5% in a day, trading at around $1,850 at times, and is currently priced at $1,879. Solana lost over 7% of its value, dropping below $80, and ranks seventh in market capitalization among crypto assets according to CoinMarketCap.
Significant losses were also recorded by other crypto assets. In particular, LayerZero (ZRO) decreased by 10.1%, while pump.fun (PUMP) fell by 8.66%.
Mass Liquidations and Rising Fear in the Market
The sharp decline of major cryptocurrencies triggered mass liquidations of traders’ positions. Over the past day, 137,689 traders lost more than $481.3 million. Long position holders suffered losses of $433.81 million, while short positions lost $47.53 million. Bitcoin accounted for $225.29 million in liquidations, while Ethereum saw $115.9 million.
“The losses of the largest public crypto funds based on Solana exceeded $1.5 billion. They have suspended the purchase of these coins.”
At the same time, the fear and greed index dropped to an extreme level of 5 points, indicating significant concern among investors regarding the future prospects of the market.
The situation in the market remains tense, and participants are closely monitoring further movements of key assets, assessing risks and investment opportunities.