Bitcoin Price Crashes Below $65,000, Drops 5% in 2 Hours Amid Six-Week Slump

Bitcoin's price plummeted below $65,000, experiencing a 5% drop in just two hours, marking a significant downturn in a six-week slump.

Did you notice Bitcoin's recent price plunge? It just dropped below $65,000, taking a hefty 5% hit over just two hours. What's driving this shift, and what does it mean for the future of Bitcoin? Let’s break it down. What Caused Bitcoin's Sudden Price Drop? On the evening of Sunday, February 22, 2026, the Bitcoin price dropped significantly, falling from around $67,000 to under $65,000. The decline saw Bitcoin trading near $64,500, marking a drop of approximately $3,500 on the day. This movement was largely influenced by large holders moving their coins onto exchanges, coupled with recent buyers selling at a loss—conditions that have placed additional pressure on an already fragile market. One thing to note is that this steep decline happened swiftly, with most of the drop taking place within two hours, showcasing the volatility that can arise in cryptocurrency markets. This incident marks Bitcoin's first stretch of six consecutive negative weekly closes, a notable scenario for traders and investors alike. Are Whales Playing a Role in This Market Movement? According to data from CryptoQuant, whales are significantly impacting Bitcoin's market dynamics. The exchange whale ratio reached 0.64, the highest since 2015, indicating that large holders are driving a bulk of the selling activity. It’s worth noting that the average deposit size among these large holders has surged to 1.58 BTC, the highest figure recorded since June 2022. While total inflows have seen a considerable drop—roughly 60% from early February—trading remains elevated. This scenario leaves the market vulnerable to increased volatility as more Bitcoin flows onto exchanges from heavy investors. What’s the Trading Sentiment Around Bitcoin Right Now? Prior to this recent downturn, Bitcoin's price movement had been somewhat subdued. A bounce from $60,000 struggled to overcome resistance at $71,800, eventually dipping to a support level near $65,650 before closing around $67,000 the week before this price cr