Bitcoin has tumbled to its lowest level in nearly a year, sliding below the critical $77,000 threshold as a surprise geopolitical shift within the BRICS bloc destabilizes investor confidence. The market-wide rout has pushed the Crypto Fear & Greed Index to a staggering 14, signaling extreme fear as liquidations across major exchanges intensify and the total digital asset market cap hovers near $2.6 trillion.
BRICS Treasury Sell-Off Triggers Market Panic
The catalyst for this weekend's dramatic downturn appears to be a coordinated financial maneuver by the BRICS alliance (Brazil, Russia, India, China, and South Africa). Reports emerging late Sunday indicate that member nations have collectively offloaded approximately $61 billion in U.S. Treasuries, with Brazil leading the strategic pivot. This massive divestment is being viewed by analysts as a prelude to the bloc's upcoming announcement of a sovereign digital payment infrastructure designed to bypass SWIFT.
This geopolitical shock has sent tremors through traditional and digital finance alike. As confidence in the U.S. dollar wobbles, risk assets are facing severe headwinds. "Investors are fleeing to physical gold and cash, leaving risk-on assets like crypto exposed to aggressive repricing," notes a senior analyst from a leading crypto hedge fund. The move has effectively drained liquidity from the markets, exacerbating the Bitcoin price crash 2026 narrative that is currently dominating financial headlines.
Institutional Crypto Liquidations Hit $2.5 Billion
The price action has been brutal for leveraged traders. Data from Coinglass reveals that over $2.5 billion in positions were liquidated in the last 24 hours, marking one of the most severe flushing events since the previous bear market cycle. Long positions accounted for nearly 85% of the wiped-out capital, as traders betting on a weekend recovery were caught off guard by the sheer velocity of the sell-off.
The cascade of institutional crypto liquidations was particularly harsh on Ethereum. The second-largest cryptocurrency by market cap saw over $960 million in futures contracts vaporized as the Ethereum price drop today pushed the asset down nearly 10%, trading dangerously close to the $2,230 mark. This "long squeeze" has forced major funds to unstack positions, creating a feedback loop of selling pressure that is suppressing any potential bounce.
Bitcoin Support Levels $76,000 Under Siege
Technical damage to Bitcoin's chart is significant. After losing the psychological fortress at $80,000, BTC struggled to find footing at the Bitcoin support levels $76,000, briefly wicking down to $74,800 before a minor stabilization. Analysts warn that if the $75,000 floor gives way, the next major area of historical demand does not appear until the low $70,000s.
"The market is currently in no-man's land," says crypto chartist Elena Ross. "We are seeing a complete reset of the bullish structure built over the last six months. Unless we reclaim $78,500 quickly, the path of least resistance remains strictly downward."
Global Financial News February 2026: A Perfect Storm
The current crypto correction cannot be viewed in isolation. Global financial news February 2026 is painting a picture of heightened macro uncertainty. Beyond the BRICS maneuvering, rising interest rate chatter from the Federal Reserve has returned, dampening the liquidity that fuels speculative assets. The correlation between Bitcoin and the Nasdaq has tightened once again, meaning that weakness in tech stocks is dragging digital assets down with them.
For investors, the crypto fear and greed index 14 reading serves as a stark warning but also a potential contrarian signal. Historically, such extreme readings have sometimes preceded market bottoms, though few are willing to catch the falling knife until the geopolitical dust settles. As the BRICS summit approaches later this month, volatility is expected to remain the only constant.
