The cryptocurrency market is currently navigating a high-velocity de-risking event as of late February 2026. Global risk aversion has intensified, driven primarily by significant shifts in U.S. trade policy. The recent announcement of a 15% global tariff has triggered a broad retreat from speculative assets, sending shockwaves through the digital finance sector. **Bitcoin** is currently struggling to maintain its footing, trading at approximately **$64,120**. This follows a sharp **7.02%** decline over the past week. The asset is testing a critical psychological and technical support zone at **$64,000**. Market analysts warn that a failure to hold this level on a daily closing basis could expose the price to a deeper liquidity cluster near **$60,000**. **Ethereum** has mirrored this downward momentum, sliding to **$1,843**. The second-largest cryptocurrency faces additional pressure from notable founder activity, with reports of roughly **8,800 ETH** in disposals throughout the month. This combination of macro headwinds and internal selling has kept the asset pinned below the **$2,000** resistance mark. The broader market reflects a state of "Extreme Fear," with the Fear & Greed Index crashing to a reading of **11**. This is one of the lowest sentiment readings recorded in recent years. The global crypto market capitalization has retreated to approximately **$2.23 trillion**, marking a significant evaporation of value in a short window. Institutional caution is evident in the derivatives and ETF sectors. Over the last seven days, spot Bitcoin ETFs have seen outflows totaling **$724 million**. In the futures market, the rapid unwinding of leveraged exposure has amplified the volatility. Total network liquidations recently exceeded **$458 million** in a single 24-hour period, with over **92%** of those losses coming from long positions. Trading volumes for major assets have spiked by more than **50%** during this local low, a technical signal that often suggests a period of exhaustion. While the high volume indicates heavy contest at support levels, the prevailing negative bias remains dominant. Investors are closely monitoring the **$63,440** low; a reclaim of higher levels could signal a relief rally, but current structures favor continued consolidation. Macroeconomic uncertainty remains the primary anchor for these conversations. With interest rates staying elevated and the U.S. dollar strengthening, capital continues to rotate into perceived safe havens. Until Bitcoin can reclaim the **$68,500** resistance area, retail and institutional conviction is expected to remain low.