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CryptoMedium•23 February 2026•

1 min read

Bitcoin Slumps Below $65,000 as $360 Million in Long Positions Liquidated

A dramatic image showing a red downward trend line, a cracked cube with a Bitcoin symbol, and 'SYSTEM FAILURE -99%'. Debris, circuit boards, and broken crypto coins are scattered.

Key Facts

1Bitcoin price fell below the $65,000 level due to macroeconomic shocks.

Bitcoin (BTC) experienced a sharp decline, falling below the critical $65,000 threshold following a series of macroeconomic shocks. The rapid price drop triggered a massive wave of liquidations for traders holding leveraged long positions across the cryptocurrency market. Data from Coinglass reveals that approximately $360 million in long positions were wiped out within a single hour of trading. This sudden volatility highlights the market's current sensitivity to broader economic shifts and external financial pressures. The downward momentum also impacted major altcoins and crypto-related equities, including Coinbase (COIN) and Marathon Digital (MARA). Market participants are now closely monitoring support levels to gauge the potential for further downside risk in the near term.