Bitcoin Slides on Whale Selling and Trade Policy Jitters

Key Moments

Bitcoin dropped 4% to $65,296.8 and briefly traded below $65,000, approaching early-February lows near $60,000.
On-chain data showed increased Bitcoin transfers from whale wallets to exchanges, signaling heightened selling pressure across crypto.
Fresh U.S. trade tariff developments and mixed economic data weighed on risk sentiment, pressuring both equities and digital assets.

Bitcoin Retreats Toward Early-February Lows

Bitcoin remained under heavy pressure in Asian trading on Monday, briefly breaking below the $65,000 level as large holders continued to offload positions against a backdrop of mounting uncertainty over U.S. trade policy.

The world’s largest cryptocurrency was down 4% at $65,296.8 as of 01:30 ET (06:30 GMT), after touching an intraday low of $64,384.2 over the prior 24 hours. The latest pullback put Bitcoin back within range of early-February levels, when it temporarily slipped below $60,000.

The weakness was not confined to Bitcoin. Broader crypto markets also retreated, with Ether facing distinct selling pressure following reports of disposals by its founder, Vitalik Buterin.

Whale Activity Intensifies Selling Pressure

On-chain metrics from CryptoQuant indicated a rising volume of Bitcoin moving from large private wallets – commonly referred to in the industry as “whales” – to centralized exchanges, a pattern typically associated with an intention to sell.

Whale sellers – entities that command sizable Bitcoin holdings, including early adopters, institutional players, and crypto-focused funds – can significantly influence short-term price moves when they transfer coins to trading venues.

Such flows tend to precede or accompany sales and also increase the immediate supply of Bitcoin available on exchanges, amplifying downward price pressure.

At the same time, there appeared to be limited signs of strong dip-buying interest on major platforms. Sentiment toward the asset class remained fragile after pronounced declines in recent months.

Tariff Rulings and New Measures Rattle Risk Assets

Developments around U.S. trade policy further weighed on risk appetite. The U.S. Supreme Court last week invalidated a substantial portion of President Donald Trump’s trade tariffs, determining that he had exceeded his authority in imposing duties on key trading partners.

In response, Trump announced a new 10% global tariff on imports for 150 days and subsequently lifted the rate to 15%, described as the maximum permitted under the applicable statute. The rapid escalation unsettled financial markets.

The tariff moves dragged down equities and other risk-sensitive assets in Asian trading on Monday. Investors grew increasingly concerned that higher trade barriers could restrain global growth and tighten liquidity conditions, dynamics that have historically posed headwinds for cryptocurrencies.

BTC below $65K. Whale dumps $760M on Binance. ETF outflows $3.8B in 7 days. Gold 8th green month at $5,098.
Retail wallets accumulating harder than any point this cycle.
Same playbook every time.#Bitcoin #Crypto pic.twitter.com/VIh0OhlxvH
— JD (@ssang105) February 23, 2026

Altcoins Follow Bitcoin Lower as Ether Faces Founder Selling

Altcoins broadly tracked Bitcoin’s decline, with Ether drawing particular scrutiny after further selling attributed to its founder.

Ether fell nearly 5% to $1,878.63, bringing it closer to its early-February lows.

Buterin was observed selling at least 1,694 Ether over the weekend for proceeds of $3.3 million. Although this transaction still represents a relatively small slice of his total holdings, it stirred concern among traders about additional whale-driven selling pressure on the world’s second-largest cryptocurrency.

Token	Move	Notable Level / Detail
Bitcoin (BTC)	-4%	$65,296.8 at 01:30 ET; low of $64,384.2
Ether (ETH)	Nearly -5%	$1,878.63; Buterin sold 1,694 ETH for $3.3 million
Dogecoin	-2.9%	Memecoin segment under pressure
$TRUMP	-3.4%	Decline within memcoin space

Among other major altcoins, XRP, Solana, Cardano, and BNB registered losses ranging from 3% to 8%, reflecting broad-based weakness across the sector.

In memecoins, Dogecoin slipped 2.9%, while $TRUMP declined 3.4%, underscoring persistent risk aversion across more speculative corners of the market.

Macro Data Clouds Federal Reserve Policy Outlook

Recent U.S. macroeconomic releases added to the cautious tone. Data published on Friday showed that gross domestic product expanded at a 1.4% annualized pace in the fourth quarter, signaling a moderation in economic momentum.

At the same time, the personal consumption expenditures price index held at 2.9% year-on-year, indicating that inflation pressures remained elevated.

This combination of sticky inflation and slowing growth complicated expectations around potential Federal Reserve interest rate cuts, dampening hopes for swift monetary easing this year and contributing to the more defensive stance among investors.