Bitcoin dropped below $65,000 in Asian trading on Monday as large holders increased selling and global markets turned cautious over new US trade tariffs. The cryptocurrency fell 4.6% to $64,882.1 after touching $64,384.2 in the last 24 hours. At the same time, equities weakened, and investors shifted toward gold and silver, which gained sharply.
The decline pushed Bitcoin back to levels last seen in early February when prices briefly approached $60,000. It now trades about 48% below its October peak of $126,000. It also sits roughly 5.5% under its 2021 high near $69,000.
Meanwhile, US stock index futures edged lower. Nasdaq 100 contracts lost 0.9%. In contrast, gold climbed about 2%, and silver jumped more than 5%. The divergence reflected rising caution across risk assets.
The sharp slide triggered heavy liquidations in derivatives markets. Data from CoinGlass showed that more than 136,000 traders faced liquidation over the past 24 hours. Total losses reached $458 million.
About 92% of those liquidations involved leveraged long positions. Bullish traders absorbed most of the losses as prices fell quickly. The rapid unwind added further pressure to the market.
At the same time, sentiment deteriorated. Alternative.me’s Crypto Fear and Greed Index dropped to 5 out of 100 on Monday, signaling extreme fear. Since 2018, the index has reached this level only three other times, including August 2019 and June 2022.
The latest reading matched levels seen earlier this month during another intense correction. Such periods often align with heavy selling and sharp volatility. Markets reacted swiftly to macroeconomic signals.
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US trade policy added to market stress. President Donald Trump announced a new 10% global tariff on imports for 150 days. He later raised the rate to 15%, the maximum allowed under the statute.
Asian equities declined as investors assessed the impact of higher trade barriers. Market participants feared slower global growth and tighter liquidity conditions. Risk-sensitive assets, including cryptocurrencies, felt immediate pressure.
Ethereum and XRP each declined nearly 6% during the same session. The broader crypto market moved in line with equity weakness. Investors sought safer alternatives instead.
On-chain metrics reflected continued stress among recent buyers. Glassnode reported that short-term holders realized steep losses earlier this month. On Feb. 6, a seven-day smoothed measure of net realized profit and loss fell to negative $1.24 billion per day.
That figure later improved to around negative $480 million per day. Although losses slowed, newer investors still sold at a net loss. Glassnode stated that such behavior aligns more with bottom-building phases than strong uptrends.
Exchange data from CryptoQuant offered further insight. During the early February drop toward $60,000, Bitcoin inflows to exchanges reached nearly 60,000 BTC per day. On a seven-day smoothed basis, inflows later declined to about 23,000 BTC.
Yet the composition of deposits shifted. CryptoQuant’s exchange whale ratio rose to 0.64, its highest level since 2015. Nearly two-thirds of Bitcoin entering exchanges now comes from the ten largest deposits daily.
Average deposit sizes also climbed to levels last seen in mid-2022. The data indicates that large holders drive much of the current exchange activity. As whale flows dominate and fear remains elevated, will selling pressure persist or stabilize in the days ahead?
Bitcoin price fell below $65,000 as whale selling increased and US tariffs unsettled global markets. Crypto liquidations reached $458 million while the Crypto Fear and Greed Index dropped to extreme fear. Exchange data shows large holders dominate inflows, leaving the market fragile and highly sensitive to further macro shifts.