Why Is Crypto Crashing Today [Live] Updates

In Iran, mining Bitcoin can reportedly cost as little as $1,320 thanks to heavily subsidized electricity, while BTC trades near $65,000.The government legalized mining in 2019 to earn foreign currency under sanctions. Licensed miners get cheap power but must sell BTC to the central bank. However, estimates suggest up to 90% of mining happens illegally, with underground operators using subsidized or stolen electricity despite regular crackdowns.

Recent data shows short-term Bitcoin whales are holding about $26 billion in unrealized losses, one of the highest levels seen this year. The peak came on February 6, when BTC briefly fell below $60,000 and losses surged to roughly $32 billion. These newer large holders are now under pressure. If volatility returns, stress among loss-holding whales could weaken confidence and trigger emotional selling, making the market more unstable in the near term.

A new market report highlights growing weakness across crypto. Since Donald Trump’s inauguration, the total crypto market cap has dropped by $1.3 trillion, while Binance spot trading volumes have reportedly plunged 95%. The data shows collapsing volumes, thinning positions, and fading trader conviction. Analysts warn that oversold signals alone may not trigger a bounce when liquidity is evaporating. With derivatives shifting and volatility possibly mispriced, the next 1–2 weeks could be critical for Bitcoin and Ethereum.

Bitcoin price crashed more than 5% after Donald Trump announced plans to raise global tariffs to 15%. The price dropped from $67,600 to around $64,700 in under two hours.Major altcoins followed the move. Ethereum, XRP, and Solana also saw sharp declines as the broader crypto market reacted to the news. Traders are now watching whether Bitcoin can hold key support levels in the near term.

On the daily chart, Bitcoin is showing what some traders call a bullish setup. Recent price action has cleared out many leveraged long positions below while leaving overhead liquidity intact — a pattern that can fuel a strong squeeze later. However, this is not guaranteed. Technically, the structure could still resemble a bear pennant with downside risk toward $50K. But if Bitcoin holds current lows on daily closes, the path could open for a move back into the $70K range and higher.

XRP has posted its largest on-chain realized loss spike in more than two years, according to Santiment data on Feb. 21. The previous weekly low of -$1.93 billion occurred about 39 months ago. Notably, after that event, XRP rallied 114% over the following eight months. While past performance doesn’t guarantee a repeat, the latest spike is drawing attention from traders watching for a potential recovery phase.

Bitcoin has plunged nearly 49% over the past 139 days, erasing more than $1.21 trillion from its market cap. The drop of roughly $62,000 from the peak has come without a meaningful relief rally, raising concerns across the crypto market. Market watchers say this is one of the most unusual drawdowns in Bitcoin’s history. Many believe the shift began after the October 10 liquidation event, suggesting changes in liquidity and sentiment conditions in crypto.

Vitalik Buterin has reportedly sold 1,869 ETH worth about $3.67 million in the past two days. During the same period, Ethereum’s price slipped from $1,988 to $1,875, a drop of roughly 5.7%.Earlier, Buterin sold 6,958 ETH worth $14.78 million, after which ETH fell from $2,360 to $1,825 — a sharper 22.7% decline. The reason for the sales is unclear, but traders are watching Ethereum closely.

Crypto entrepreneur Arthur Hayes revealed his current portfolio mix. He holds stocks linked to gold, silver, copper, uranium miners, oil majors, defense companies, and Latin American energy firms. On the crypto side, Hayes owns Bitcoin, Ethereum, Zcash, and HYPE, along with physical gold.