BTC USD \u00a0took a heavy hit in early trading, plunging to the $63K level and leaving a trail of wrecked portfolios in its wake. In a sudden market flush, traders longing for Bitcoin saw over $295 million wiped out in hours. If you have been nervously watching your portfolio turn red and feeling a knot in your stomach, you are definitely not alone.<\/p>\n
The sudden drop to $63K has traders asking the hard questions: Is this just a temporary leverage flush, or the start of a deeper correction driven by global economic fear?<\/p>\n
The market is testing<\/a> the nerve of every retail investor right now.<\/p>\n Liquidation Heatmap 12 Hours Source:\u00a0Coinglass<\/a><\/p>\n DISCOVER:\u00a0<\/span>Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2026<\/span><\/a><\/strong><\/p>\n Bitcoin Price Analysis Source:\u00a0TradingView<\/a><\/p>\n Bitcoin price crumbled under heavy selling pressure, breaking through support levels to hit a low of $62,700. BTC has fallen over 19% in February, marking its worst monthly performance since June 2022, and is down roughly 50% from its October 2025 all-time high near $126,000. Why the dramatic price action?<\/p>\n Escalating U.S. tariff tensions, geopolitical risks (including U.S.-Iran concerns), and macro uncertainty pressured risk assets like stocks and crypto.<\/p>\n Tech sector weakness: IBM\u2019s 13%+ plunge, its worst day in 25 years, after AI announcements triggered an AI-driven selloff that spilled into crypto.<\/p>\n ETF outflows and liquidations: Sustained institutional outflows from Bitcoin ETFs (over five weeks) and $370 million+ in leveraged position liquidations amplified the drop.<\/p>\n DISCOVER:\u00a016+ New and Upcoming Binance Listings in 2026<\/a><\/strong><\/p>\n JUST IN: 90% chance Bitcoin falls below $60,000<\/p>\n \u2014 Kalshi (@Kalshi) February 24, 2026<\/a><\/p>\n\n Prediction markets are flashing red, with U.S.-regulated platform Kalshi assigning a staggering 90% probability to Bitcoin dipping below $60,000 at some point in 2026, based on trader bets in its yearly low-price contract. Short-term odds are more tempered, around 45% for a sub-$60K breach by February 28, but the annual forecast aligns with technical warnings of further downside.<\/p>\n Analysts see $60,000 as a pivotal psychological and Fibonacci support level; a break could accelerate selling toward $56,000\u2013$58,000 (near the 200-week EMA), mid-$50,000s (like $54,800 from bearish patterns), or even $42,000\u2013$50,000 in a severe pullback.<\/p>\n While some see this as tactical risk management in the face of global challenges, the combination of market catalysts and prediction odds paints a concerning picture for Bitcoin bulls. This suggests prolonged consolidation unless sentiment changes.<\/p>\n DISCOVER:\u00a0Best New Cryptocurrencies to Invest in 2026<\/a><\/strong><\/p>\n Follow 99Bitcoins on X<\/a> For the Latest Market Updates and Subscribe on YouTube<\/a> For Daily Expert Market Analysis.<\/strong><\/p>\n The post BTC USD Drops To $63K: $295 Million in Longs Liquidated<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BTC USD \u00a0took a heavy hit in early trading, plunging to the $63K level and leaving a trail of wrecked portfolios in its wake. In a sudden market flush, traders longing for Bitcoin saw over $295 million wiped out in hours. If you have been nervously watching your portfolio turn red and feeling a knot […]<\/p>\n","protected":false},"author":0,"featured_media":137625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-137624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137624"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=137624"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/137625"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=137624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=137624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=137624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC USD Price Drops To $62,700: What Now?<\/h2>\n
Traders on Kalshi See 90% Probability Bitcoin Hits Sub-$60K Low This Year<\/h2>\n