Selling pressure across the digital asset market is intensifying: over the past 24 hours, Bitcoin has lost 3.3% and is trading near $63,000 at the time of writing. As a result, the flagship cryptocurrency now sits exactly 50% below its all-time high of $126,000, according to CoinMarketCap data.
The sell-off is also continuing in Ethereum: the second-largest cryptocurrency by market capitalization has fallen to around $1,800 and is now trading 63% below its record high.
Only a handful of assets have managed to escape the broader downturn. One of them is pippin (PIPPIN), which has gained 10% over the past 24 hours and is up 17% on a weekly basis.
According to CoinGlass data, nearly 120,000 traders were liquidated over the past day, with total liquidations amounting to $381.68 million. At the same time, Bitcoin open interest dropped sharply, while derivatives trading volumes surged. Meanwhile, the Fear & Greed Index has slipped into the “extreme fear” zone.
Capital outflows were also recorded in the Bitcoin ETF segment: following the February 23 trading session, investors withdrew around $204 million from funds managed by BlackRock, Fidelity, and other providers. This is confirmed by Farside data.
One of the key triggers behind the sell-off has been developments in the US related to trade tariffs. American authorities are planning to launch national security reviews in order to legally justify new tariffs after the Supreme Court struck down earlier emergency measures. President Donald Trump is simultaneously threatening trading partners with higher duties and aims to rapidly rebuild a global tariff regime on a new legal basis.
