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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Feb 23, 2026 05:12 UTC
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Crypto Crash Alert: Why are Bitcoin, Ethereum and XRP Prices Falling Today?
Crypto market falls 4.4% to $2.23T as Bitcoin drops near $64.8K, triggering $240M liquidations while ETF outflows signal weaker demand.
Bitcoin, Ethereum, and XRP slide amid macro pressure and high leverage, pushing total crypto market cap toward the key $2T support level.
Global cryptocurrency markets fell sharply on Monday, extending a multi-month downturn that traders say is being driven less by crypto-specific news and more by mounting macroeconomic pressure.
The total digital asset market capitalization dropped roughly 4.4% in 24 hours to about $2.23 trillion, according to market data. The selloff was led by losses in Bitcoin, Ethereum, and XRP, which together account for a large share of overall market value.
Bitcoin Drops Rapidly, Triggers Liquidation Wave
Bitcoin fell nearly 5% on the day to around $64,800, with prices at one point sliding roughly $2,500 in about an hour. The swift move triggered an estimated $240 million in long liquidations, according to derivatives data.
In leveraged markets, when prices fall quickly, traders who borrowed to bet on higher prices are forced to sell to cover their positions.
Over the past 139 days, Bitcoin has declined close to 49%, wiping out more than $1 trillion in market value. Analysts say that unlike prior cycles, the downturn has not produced a sustained relief rally.
At the same time, U.S. spot Bitcoin exchange-traded funds have seen notable outflows in recent sessions, signaling weaker institutional demand. Weekly withdrawals totaling hundreds of millions of dollars have raised questions about whether the strong ETF-driven inflows earlier in the year are losing momentum.
- Also Read :
- Crypto Market Update Today: BTC and ETH Slide Below Key Levels—Is More Downside Ahead?
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Ethereum Follows as Derivatives Market Unwinds
Ethereum declined nearly 6% to trade around $1,859, underperforming Bitcoin slightly during the latest drop.
Market participants say Ethereum’s weakness shows both its sensitivity to Bitcoin’s direction and elevated leverage across the crypto derivatives complex. Total open interest across major exchanges remains high, suggesting that many positions were vulnerable to sharp moves.
As Bitcoin fell, Ethereum longs were also liquidated, amplifying losses. This pattern has become familiar during periods of heightened volatility, where price moves are magnified by automated liquidations rather than fundamental shifts in network activity.
XRP and Altcoins Face Broader Risk-Off Rotation
XRP fell nearly 6% on the day and more than 9% over the past week, trading near $1.33. This reflects a broader retreat from altcoins as investors rotate toward perceived safety or reduce overall exposure.
In risk-off environments, capital typically exits smaller or more volatile assets first. Even large-cap altcoins such as XRP can experience outsized declines when confidence deteriorates across the sector.
Hence, now the total crypto market capitalization is hovering near the $2.17 trillion level, a yearly low set earlier this month.
A sustained hold above that level could allow for consolidation and a potential short-term rebound. A decisive break lower, however, may open the door to a move toward the psychologically important $2.0 trillion mark.
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FAQs
Crypto is dropping mainly due to macro pressure, ETF outflows, and heavy leverage, not a single crypto-specific event.
Yes. This downturn lacks a sustained relief rally so far, suggesting macro factors are outweighing crypto-native catalysts.
Stabilizing Bitcoin above key support, lower leverage, and renewed ETF inflows could signal a healthier rebound phase.
Watch Bitcoin dominance, ETF flows, total market cap above $2.17T, and reduced volatility for early recovery signs.
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