#我在Gate广场过新年 Countdown 12 hours, Bitcoin's nerve-wracking moment…

On February 22, 2026, a social media post by Trump triggered a global financial market frenzy: criticizing the Supreme Court ruling as “absurd and incompetent,” and announcing an increase of global tariffs from 10% to 15% in multiple countries. The new regulation officially took effect at 00:01 Eastern Time on February 24.
Following the announcement, the crypto market instantly collapsed, with Bitcoin plunging 4.8% in 24 hours, hitting a low of $64,300, the lowest since February 6; Ethereum's decline widened to 5.2%. According to CoinGecko, the crypto market’s 24-hour market cap evaporated over $100 billion. Data from Coinglass showed that 136,700 traders were liquidated, with a total liquidation amount of $465 million, of which long positions accounted for $434 million, over 93%. Retail investors blindly bottom-fishing nearly all suffered losses.

Tariffs and Bitcoin, seemingly unrelated “deadly connection”

Novice investors often wonder: why can trade policies influence cryptocurrency trends?
The core logic is macro expectations transmission leading to liquidity tightening. Trump’s tariff hikes will directly raise the prices of imported goods. The US CPI year-over-year increase had already reached 3.4% in 2025. After the tariff increase, several investment banks forecast that Q1 2026 inflation will rebound to over 3.7%. Rising inflation directly suppresses the Federal Reserve’s rate cut expectations, and the possibility of restarting rate hikes increases significantly.
Liquidity tightening directly impacts risk assets. Bitcoin has completely shed its “digital gold” attribute and become a high-beta risk asset, maintaining a correlation coefficient above 0.7 with the Nasdaq 100 index over the long term. Delta Exchange analysts bluntly stated: “A 15% global tariff triggers a risk-averse wave in global risk assets, which is the core reason for Bitcoin’s sharp decline.”
Data confirms this: after the news was announced, during Asian morning trading, Bitcoin’s price dropped from $68,000 to $65,000 within an hour. Over three hours, long positions in the futures market reduced by over $280 million, and panic quickly spread.

$60,000: Bitcoin’s “life and death line”
The only core anchor in the current market—$60,000. Orbit Markets co-founder said: “The crypto market is extremely fragile, and $60,000 is the last line of defense for bulls.” BTC Markets analyst clarified: “$65,000 has been lost, and $60,000 has become a battleground for bulls and bears.”
The importance of this level is supported by data:
1. Technical: $60,000 is a dense trading zone for 2026 January-February, with a cumulative trading volume of over 12 million BTC, accounting for 61% of the total circulating supply, serving as a natural strong support;
2. Psychological: Round numbers are market sentiment anchors. When Bitcoin fell below $63,000 on February 6, 2026, the fear and greed index instantly dropped from 42 to 28, entering extreme fear territory;
3. Fundamentals: Deribit data shows open interest in $60,000 put options reached $1.24 billion. Coupled with leveraged accounts’ average liquidation zone concentrated between $59,000 and $61,000, a breakdown could trigger a chain of liquidations.

Historical data shows that after Bitcoin broke below $63,000 on February 6, 2026, the 24-hour liquidation amount reached $2.069 billion, with 430,000 investors forcibly liquidated. If this $60,000 support level is lost, the next support is expected around $55,000. Fortunately, on the weekly chart, Bitcoin remains in an upward channel and has not fallen below $60, so the medium-term bullish structure remains intact.

What makes this tariff wave different from previous ones?

While some market voices claim “tariff fluctuations, no need to panic,” the core risk this time is the absolute uncertainty of rules, which is entirely different from past events.
On February 20, the US Supreme Court ruled 6:3 that the tariffs previously imposed by Trump under the International Emergency Economic Powers Act lacked legal authorization. This ruling directly negated the legality of the president’s use of emergency powers to impose tariffs during peacetime. By February 21, hundreds of companies including Costco had filed lawsuits demanding the return of over $175 billion in tariffs. Trump then relied on Section 122 of the Trade Act of 1974 to impose tariffs again, but this clause has clear restrictions: a maximum validity of 150 days, global uniform application without targeted taxation, and extensions require congressional approval—extremely unlikely.
For the market, certain high tariffs are not terrifying; ambiguous rules are deadly. The legality of tariffs, whether they can be extended, and whether they will be overturned again, create triple uncertainties that cause violent asset price fluctuations. This is the core reason why Bitcoin’s decline this time far exceeds previous tariff waves.

24-hour countdown, three major response strategies (with data references)

Less than 24 hours before tariffs take effect, based on market data, here are three practical strategies:
1. Avoid chasing highs and selling lows; panic has already been priced in. Historical data shows that before major policies are implemented, the market typically prices in 70%-80% of negative news. Bitcoin’s drop from $68,000 to $64,300 already reflects the tariff escalation expectations. Selling at this point likely means selling at a low; chasing higher risks getting trapped. Maintaining trading discipline and not being driven by emotions is key to risk avoidance.
2. Keep a close eye on $60,000, operate precisely at support levels. Using $60,000 as the only trading anchor with clear quantitative standards:
- If it does not effectively break below (closing price stays above $60,000 with no abnormal volume increase), hold and wait for stabilization;
- If volume surges (trading volume within an hour exceeds three times the daily average, and the closing price drops below $59,500), reduce positions immediately to avoid forced liquidation.
3. Strictly control positions, stay away from leverage deadly traps. During macro uncertainty, leverage is the biggest risk source. The market generally has high leverage of 125x; Bitcoin only needs to fall 0.8% for longs to be wiped out. It is recommended to reduce leverage to zero, keep spot positions below 50%, and maintain sufficient cash flow to cope with volatility.

Analyst consensus: Bitcoin needs to regain $70,000 to reverse the bearish sentiment. Until then, the market will maintain high volatility and a trendless pattern, with daily fluctuations possibly exceeding ±$3,000.