Bitcoin (BTC) failed to hold the $65,000 support level and declined, triggering a wave of selling from long-term holders. The market is now closely watching key U.S. economic indicators set to be released this week.
According to Cointelegraph on February 23 (local time), Bitcoin recently fell below $65,000, sharply weakening investor sentiment. Long-term holders have opted to sell in this range, signaling signs of market capitulation, a trend that is adding short-term downward pressure. The market is focused on whether Bitcoin can quickly reclaim this psychological threshold.
This week, attention is centered on U.S. President Donald Trump’s tariff policies and major economic data releases. In particular, the U.S. Personal Consumption Expenditures (PCE) price index and the revised Gross Domestic Product (GDP) figures could directly influence the Federal Reserve’s interest rate decisions. Concerns are growing that the Trump administration’s aggressive tariff policies may stimulate inflation, further dampening investor appetite for risk assets.
From a technical standpoint, Bitcoin is facing a critical test. The potential formation of a “death cross,” where the short-term moving average falls below the long-term moving average, is raising warnings of further declines. According to Santiment analysis, the amount of Bitcoin flowing into exchanges is increasing, while open interest remains elevated, suggesting that volatility is likely to expand.
The Crypto Fear & Greed Index, which measures market sentiment, has recently shifted rapidly from greed to neutral or fear territory. The Market Value to Realized Value (MVRV) ratio indicates that Bitcoin has moved out of an overvalued zone and entered a corrective phase. Retail investors are maintaining a wait-and-see stance amid ongoing market uncertainty, while institutional investors appear to be focusing on risk management through portfolio adjustments.
This week is expected to mark a decisive turning point for the Bitcoin market, depending on U.S. macroeconomic data results and policy remarks from President Trump. Whether Bitcoin can reclaim the $65,000 level will serve as a key indicator for its medium- to long-term trend, and investors should establish thorough risk management strategies in preparation for heightened volatility.
Disclaimer: This article is for investment reference only and does not assume responsibility for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.  <저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
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