Tuesday, February 24, 2026 – The cryptocurrency market is reeling this morning as a new era of protectionist U.S. trade policy officially begins. Bitcoin (BTC) has violently breached the critical $65,000 support level, trading as low as $64,290 in early hours, following the implementation of a sweeping 15% global import tariff. The controversial levy, enacted under Section 122 of the Trade Act of 1974, has triggered a severe 'risk-off' sentiment across global finance, decoupling digital assets from traditional safe havens like gold and causing over $450 million in leveraged liquidations in less than 24 hours.

Section 122 Tariffs 2026: The New Reality

The catalyst for today's market turmoil is the sudden activation of Section 122 tariffs. Following a stunning Supreme Court ruling last week that struck down previous duties imposed under the International Emergency Economic Powers Act (IEEPA), the administration swiftly pivoted to the Trade Act of 1974. This obscure statute grants the President authority to impose temporary import surcharges of up to 15% to address "large and serious balance-of-payments deficits."

Unlike previous targeted measures, this 15% surcharge applies virtually across the board to all U.S. imports. The move is designed to stem the flow of capital abroad and boost domestic production, but markets are reacting with fear of immediate inflationary pressure. "This is a sledgehammer to global supply chains," notes one macro analyst. "The market is pricing in a scenario where global growth slows significantly while U.S. consumer prices spike, a toxic mix for risk assets."

Bitcoin Price Crash Today: Decoupling from Gold

As the tariffs took effect at 12:01 AM, the reaction in crypto markets was swift and brutal. The Bitcoin price crash today underscores a growing divergence between digital assets and traditional safe havens. While gold prices have rallied nearly 2% to fresh highs above $5,100—reacting to the geopolitical tension and trade uncertainty—Bitcoin has traded strictly as a high-beta risk asset.

Institutional investors appear to be fleeing to cash and commodities, viewing the tariff-induced inflation not as a bullish catalyst for "hard money" crypto, but as a liquidity drain. With the cost of goods expected to rise, the Federal Reserve may be forced to keep interest rates higher for longer, reducing the appetite for speculative assets. This shift in global risk-off sentiment 2026 has invalidated the "digital gold" thesis for the short term, leaving Bitcoin vulnerable to macro headwinds.

Crypto Market Liquidations Top $450 Million

The breakdown below $65,000 triggered a cascade of forced selling. Data from major derivatives platforms confirms that crypto market liquidations have exceeded $450 million since the Asian market open. The vast majority of these were leveraged long positions, betting on a recovery that never materialized.

The liquidation map shows that bulls were heavily defending the $65,500 zone. Once that floor gave way under the weight of spot selling, stop-loss orders accelerated the decline. "We saw a domino effect," explains a lead trader at a major desk. "The market was positioned for a relief rally after the Supreme Court decision. The pivot to Section 122 caught everyone offside." This flushing of leverage has reset open interest to multi-month lows, potentially setting the stage for high volatility in the days ahead.

Technical Analysis: Bitcoin 65000 Support Level Broken

Technically, the loss of the Bitcoin 65000 support level is a significant blow to the bullish structure that had been building since late 2025. This level had served as a reliable floor during the uncertainty of January; its conversion into resistance suggests bears are now in control.

Analysts are now eyeing the $60,000 to $62,000 range as the next major line of defense. A break below $60,000 could open the door to the mid-$50Ks, a region not visited since the depths of the last bear cycle. However, some indicators, such as the RSI on the 4-hour chart, are flashing oversold, hinting that a short-term bounce to retest $65,000 as resistance could be imminent. For now, the US trade policy impact on finance remains the primary driver of price action, overshadowing on-chain metrics or adoption news.

Impact on Miners and Hardware

The pain isn't limited to asset prices. The 15% tariff also hits the hardware that powers the network. The vast majority of ASICs (Application-Specific Integrated Circuits) used for Bitcoin mining are imported. The new surcharge immediately raises capital expenditure (CapEx) costs for U.S.-based miners, further squeezing profit margins already thinned by the recent halving. This could lead to additional sell pressure as miners liquidate treasury holdings to cover increased operational costs.

As the 150-day clock on these temporary tariffs begins ticking, the crypto market faces a period of heightened uncertainty. Unless Congress intervenes or the administration walks back the policy—unlikely given the rhetoric—investors should brace for continued volatility. For the latest cryptovot finance news and updates on this developing story, stay tuned.