It was almost as if the universe had conspired, possibly with a dash of irony and a sprinkle of cosmic giggles, to send Bitcoin tumbling down the rabbit hole after a weekend so peaceful it could have been mistaken for a catnap. And what set off this delightful chaos? Why, none other than the escapades of a certain orange gentleman and his tariff tantrums!
Ah yes, the esteemed US Supreme Court, in an act that must have sent shivers through the corridors of power (or at least made a few lawyers choke on their coffee), declared many of President Trump’s tariffs illegal. Turns out, using the 1977 emergency law-because why not go vintage?-to slap taxes on imports was a tad overreaching. Who knew?
Now, while most people were busy pretending to understand legal jargon, our protagonist, the President, called the Court’s ruling a “disgrace” (which is just classic melodrama, really) and promptly announced a temporary global tariff of 10%. Because if you’re going to upset the apple cart, you might as well make it a full-blown fruit salad. A day later, he cranked it up to 15%, because subtlety isn’t really his forte.
Much like the time everyone was debating whether Greenland should be bought or sold (because obviously, real estate is a thing), the initial shockwave didn’t rattle Bitcoin immediately. No, it lay there like a dog in a sunbeam, blissfully unaware of the impending doom. But once the markets opened on a sleepy Sunday afternoon, it was as if someone had shouted “fire!” in a crowded theater. Bitcoin promptly lost a few grand in about as much time as it takes to say “what the heck just happened?”
Fast forward to February 22/23, and our beloved cryptocurrency nosedived from a lofty $67,800 to a rather sad $64,350. It’s now clinging onto some semblance of support around $66,000, like a cat clinging to a curtain in a thunderstorm.
If things take another turn for the worse, analysts suggest Bitcoin’s next safety net could be lurking around $58,500, $54,440, and even $41,500. It’s like a treasure map, but instead of gold, you find more despair.
Bitcoin $BTC holder cost basis highlights three key support levels:
• $58,467
• $54,439
• $41,488– Ali Charts (@alicharts) February 22, 2026
Of course, the altcoins decided to join in on the fun, plummeting by over 5% faster than you can say “liquidation.” The total value of liquidated positions has soared to nearly $500 million on CoinGlass-mostly from longs, because why not double down on the chaos?
Even Santiment couldn’t resist chiming in, reporting that open interest has dropped to a mere $19.5 billion, which is less than half of the 2026 peak. It seems that social media is buzzing with FUD (Fear, Uncertainty, Doubt, for those not fluent in crypto-speak), which historically has been known to act like a springboard for a rebound. So, hold onto your hats, folks-this rollercoaster isn’t finished yet!
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2026-02-23 10:43