BTC USD price today drops to $65,000 level: Why is Bitcoin on track for its worst month since 2022 crypto

Bitcoin's price has fallen to $65,000, signaling its worst monthly performance since 2022 due to a broader risk-off sentiment in global markets.

The cryptocurrency market today is in turmoil, with Bitcoin's price dropping to around $65,000 . This marks a significant decline as it appears Bitcoin could be on track for its worst monthly performance since 2022. What’s driving this drastic downturn? What’s Causing Bitcoin’s Price Decline? Analysts point to a broader risk-off sentiment in global markets as a key factor. The cryptocurrency market saw nearly $500 billion wiped off its total value in just one week, and Bitcoin itself has plummeted approximately 20% . This includes a rapid decline to $70,000 earlier this week, with some reports indicating it was down to $70,122 on February 26 before falling further. How are Other Cryptocurrencies Performing? The pain isn’t limited to Bitcoin alone. Major altcoins such as BNB, XRP, Solana, Tron, Dogecoin, and Cardano have all suffered significant losses, plummeting over 26% . In contrast, Hyperliquid managed to see a slight increase of 5.87% . Ethereum, for its part, slid 7.89% in the last 24 hours, trading near $2,091 . What Do Experts Say About Market Sentiment? Nischal Shetty, founder of WazirX, notes that the recent declines in Bitcoin should be understood as part of a larger picture affecting equity markets globally, particularly within the technology sector. This selling pressure has reportedly spilled into digital assets, magnified by high levels of leverage in crypto, which has led to forced liquidations as assets devalued rapidly. “Market sentiment remains fragile, shaped by tightening liquidity conditions, uncertainty around global growth, and caution ahead of key macroeconomic data and corporate earnings,” Shetty said. What’s Next for Bitcoin and the Crypto Market? With Bitcoin trading under considerable pressure, it’s pressing to watch immediate support levels framed around $71.5K . A failure to hold above this could push the asset further down into the $66K–$68K zone. Unless Bitcoin can reclaim the $75K mark, risks appear skewed to the downside. Vikram Su