Why did Bitcoin drop today?

Markets reacted to a proposed 15% global tariff, which raised uncertainty and pushed investors into risk-off sentiment. Tech weakness and a Nasdaq 100 slide spilled into crypto. Liquidity was thin and conviction low, so sellers had the upper hand. Gold drew haven flows, further weighing on risk assets.

What key levels should traders watch now?

Watch $65,000 as a near-term pivot. The 1-year low at $60,001 is key support, with $50,000 a potential downside target if selling extends. On rebounds, focus on 72,534, the 50-day at 81,300.30, and the 200-day near 98,927.34 as possible resistance zones.

How does this affect Canadian investors specifically?

Returns depend on both asset moves and currency. CAD weakness can boost gains when converting from USD, while CAD strength can trim them. Consider using CAD-denominated accounts or hedged products if FX swings matter to you. Fees, spreads, and tracking error in local spot or ETF products also affect outcomes.

Is the pullback a buy or a time to wait?

Momentum is down, even as RSI nears oversold. The composite grade is C+ with a HOLD stance. Consider staged entries only if price reclaims and holds above $65,000. Use tight risk below $60,000, respect a possible $50,000 test, and align size with your plan and time horizon.

Global Market Insights

BTCUSD Today: Tariff Shock Knocks Bitcoin Near $65K — February 23

ByDanny Kontos February 24, 2026February 24, 2026

Bitcoin price USD slid toward $65,000 today after President Trump proposed a 15% global tariff. The headline pushed investors to risk-off sentiment, with the Nasdaq 100 slide and gold seeing a haven bid. BTCUSD printed a low of $63,422.17 and last traded at $63,479.33, down 6.12% on the session. Liquidity looked thin and conviction weak. For Canadian investors, FX swings and cross-asset moves matter. We break down what drove today’s move, the technical setup, and practical steps to manage exposure while tracking the Bitcoin price USD.