Crypto Market Plunge Today: Bitcoin Dips Under $64K as Tariffs Spark Sell-Off

The has shocked investors. The total crypto market cap dropped by $110 billion. It now sits at $2.18 trillion. Bitcoin led the fall, breaking below $64,142. This triggered a bearish pattern. Altcoins like Bitcoin Cash saw even bigger losses, down 15% in 24 hours.

Main Reasons Behind the Crypto Drop

Several factors are hitting the market hard. Let’s break them down simply.

1. Trump’s Tariff Announcement Shakes Risk Assets

US President Donald Trump announced a 15% rise in global tariffs. This news hit risk assets like crypto. Investors pulled money out and moved to safe options like bonds. The sell-off spread fast across Bitcoin and altcoins. Macro uncertainty is growing. If this continues, the market cap could fall to $2.13 trillion support.

2. Project Shutdowns After Hacks

Step Finance and SolanaFloor are closing right away. A January hack drained their treasuries. They could not find funding or buyers. Step Finance will buy back STEP tokens. Remora rToken holders can redeem 1:1. These closures add fear to the market.

3. Stablecoin Depeg Scare

USD1 dipped to $0.994 on February 23. It recovered fast to $1. But the short scare raised alarms. World Liberty Financial blamed hackers. They hacked cofounder accounts to spread fake news and short the market. This fueled more worry.

Bitcoin’s Technical Breakdown

Bitcoin price broke out of a symmetrical triangle. This pattern means more volatility ahead. Charts show a possible 14% drop. BTC could test $60,000 or lower. It lost the $65,000 level. Next supports are $60,000 and $55,341.

• Key BTC Levels:
• Support: $64,142 (recent break), $60,000, $55,341
• Resistance: $67,394

Weak momentum and liquidations are pushing prices down. But if BTC holds $64,142, buyers might step in. A bounce could target $67,394 and flip the mood.

Bitcoin Cash Takes the Biggest Hit

BCH dropped 15% to $484. It clings to $480 support. Broader market pressure is the main cause. Watch for a Death Cross: 50-day EMA crossing below 200-day EMA. This bear signal could send BCH to $458.

• BCH Key Levels:
• Support: $480, $458
• Resistance: $516

If buyers hold $480, a rebound to $516 is possible. Better Bitcoin sentiment could help BCH too.

Overall Market Cap Analysis

The total market lost $2.22 trillion support. Now at $2.18 trillion, downside risks grow. Broad selling shows low confidence. Macro fears and weak inflows are key.

(Insert chart here for visual impact)

Can the Market Recover Soon?

Yes, recovery is possible. Stable macro news could help. Fresh money into crypto would slow the fall. Reclaim $2.22 trillion as support. That would build strength. For BTC, hold above $64K. For BCH, defend $480.

Watch these signs:

1. Lower volatility and steady volume.
2. Bitcoin leading altcoin gains.
3. Positive news on tariffs or hacks.

What Should Investors Do Now?

Stay calm amid the . Use this dip to buy strong projects if you believe long-term. Set stop-losses near supports. Track macro news like tariffs. Diversify beyond just BTC.

Short-term traders: Look for bounces at key levels. Long-term holders: HODL through noise. Crypto cycles show dips lead to pumps.

Broader Impacts on Altcoins

Not just BTC and BCH. Most altcoins fell 5-10%. Solana projects hurt by shutdowns. Stablecoins wobbled but held. DeFi tokens saw outflows. NFTs and memes dropped sharp too.

This shows high correlation in downtrends. Bitcoin often sets the tone.

Why Tariffs Matter to Crypto

Tariffs raise costs for trade. Slow global growth. Investors flee risk for safety. Crypto, still young, feels this most. Past events like Fed hikes caused similar drops. History says rebounds follow.

Final Thoughts

The comes from tariffs, hacks, and tech breaks. BTC under $64K, BCH at $484, market at $2.18T. Downside to $2.13T possible. But supports offer hope. Watch levels closely. Better days ahead with patience.

Stay updated on crypto moves. Knowledge beats panic.