BTCUSD extends losses on fresh US trade restrictions

As of February 24, 2026, the BTCUSD pair is drowning in bearish pressure. The king crypto shattered the $63,000 threshold, plummeting to a local low of $62,706. Bulls have been routed here, failing to hold any intermediate support zones—a far cry from the glory days of October 2025, when the token sat perched atop its all-time peak near $126,000.

The daily chart tells a grim tale. The price has violently breached the lower boundary of Bollinger Bands (20, 2) and shows no interest in looking back. All three of them are pointing south in a rare moment of alignment, confirming that bears have seized the initiative. With quotes clinging to the lower rail, don't expect a significant reversal anytime soon. The road ahead seems to be going downwards.

Upon closer inspection, the Chaikin Oscillator (3, 10) is flashing deep red and accelerating its fall with no mercy. Sellers are drowning out buyers at every turn, and the volume profile clearly displays it.

On the macro front, the headwinds are fierce. The latest blow came from the White House, which announced a new 15% tariff on all imports—a move that sent shock waves through traditional markets and triggered a widespread risk-off sentiment that even cryptos couldn't escape.

Adding insult to injury, spot Bitcoin exchange-traded funds (ETFs) have now recorded their fifth consecutive week of net outflows, with nearly $3.8 billion exiting the space. Meanwhile, the Fear and Greed Index has cratered to 11, firmly in "Extreme Fear" territory, confirming that panic is creeping into the crowd.

With BTCUSD now eyeing the $60,000 support zone, some dip-buying interest may emerge. However, expecting this to reverse the broader trend is wishful thinking. The most likely scenario is a short-term bounce, followed by another move lower.

Consider the plan down below for your trading activities:

Sell BTCUSD on a rebound toward $65,000, targeting a return to support as long as bearish pressure persists. Place Take Profit at $61,000. Set Stop Loss at $68,400.

This forecast is relevant between February 24 and March 3, 2026.