BTCUSD Today: February 24 Tariff Shock, Worst Month Since 2022
A tariff shock is testing crypto risk appetites and pushing some investors to ask whether to sell bitcoin. With thin liquidity and weak conviction, the bitcoin price today slipped after President Trump proposed a 15% global tariff. As gold caught a bid and crypto equities fell, BTCUSD tracked its worst month since June 2022. We outline price levels, signals, and a practical plan for Canadians. We also flag how Trump tariffs may feed a broader crypto selloff and what to watch next.
Tariff shock: why crypto is under pressure
President Trump’s plan to lift global tariffs to 15% revived growth fears and pushed investors toward havens. That shift hit digital assets, with a broad crypto selloff following renewed equity weakness and firmer gold. The move adds another macro headwind on top of already cautious positioning. Coverage highlighted a drop of about 5%, reflecting fragile sentiment source.
Bitcoin is pacing its weakest month since June 2022, when confidence cracked during the last major downturn. That history raises sensitivity to negative policy shocks and can nudge investors to sell bitcoin on rallies. The narrative risk itself often drives volatility and wider spreads, amplifying swings source.
Liquidity thins during event risk and off-peak hours, so even moderate sell orders can push price faster. In crypto, venue fragmentation, wider weekend spreads, and tighter risk budgets can magnify each push lower. That adds slippage and can trigger stops, which feeds momentum and reinforces calls to sell bitcoin for short-term traders.
Bitcoin price today and key technical signals
The bitcoin price today is $66,972.50, down 0.95% on the session, with a day low of $65,604.63 and high of $67,288.22. Year to date, price is off 27.25%. Short-term traders are eyeing $65,000 as a line in the sand. A firm break and close below that mark can invite more supply, while reclaiming $68,000 would ease pressure.
RSI sits at 30.50, near oversold, while ADX at 50.17 signals a strong trend. MACD is negative (MACD -5,487.65 vs signal -5,467.07), which keeps momentum bearish. Traders weighing whether to sell bitcoin may use bounces toward declining moving averages as reduce points, with stops placed above recent swing highs.
ATR at 3,803.17 indicates wide daily swings. Bollinger Bands center near 72,534.20 with lower at 56,580.19, highlighting deep downside air if momentum extends. Keltner lower band sits at 64,675.17, near today’s action. A daily close back above the Keltner middle at 72,281.50 would hint at stabilization before stronger resistance near the Bollinger middle.
What Canadian investors should consider
Crypto is quoted in USD, but Canadians fund and report in CAD. FX adds another layer of risk and tracking error. Many investors prefer Canadian-listed Bitcoin ETFs in taxable accounts, RRSPs, or TFSAs for simpler reporting and custody. Fees, premiums, and intraday liquidity matter. We review product facts before we buy, hold, or sell bitcoin exposure.
Before you sell bitcoin, set rules: target allocation, max loss per trade, and re-entry criteria. Consider tax impacts, including superficial loss rules and capital gains timing. For large positions, staged orders can cut slippage. Align decisions with your time horizon. Short-term tactics differ from long-term conviction holds.
Strategy: when to sell bitcoin versus hold
A close below $65,000 with weak breadth can justify trimming. Use stop-losses sized to volatility, for example ATR-based distances, to avoid oversized risk. If price reclaims $68,000 with rising volume, pause sells. Document your plan so you do not sell bitcoin at panic points and then chase rebounds minutes later.
Our system grade is C+ with a Hold stance. Internal model forecasts imply $54,426.81 over one month, $98,201.37 over one year, and $152,397.04 over five years. Forecasts are not guarantees. If your thesis remains intact, scaling rather than a full sell bitcoin exit can manage risk while keeping upside optionality alive.
Final Thoughts
Tariff headlines sparked a fresh risk-off move just as bitcoin entered its weakest month since June 2022. Today’s tape shows heavy momentum, wide ranges, and fragile liquidity. For Canadian investors, two steps matter most. First, define a plan with price levels, position sizes, and tax-aware tactics before you place orders. Second, separate trades from long-term exposure. A close below $65,000 can warrant trims, while stabilization above $68,000 argues for patience. RSI near oversold warns against emotional sells, but the downtrend is strong. Use staged orders, respect volatility, and review ETF and FX costs. We prefer disciplined, rules-based moves over reactive decisions.
FAQs
Should Canadian investors sell bitcoin after the tariff news?
Start with your plan. If your stop or allocation limit triggered, trim as planned. A close below $65,000 supports tactical sells. If your horizon is long and thesis intact, consider partial reductions instead of a full exit. Always factor CAD FX, taxes, and ETF costs before acting.
What is the bitcoin price today and key support or resistance?
Bitcoin is $66,972.50 with a day low of $65,604.63 and high of $67,288.22. Watch $65,000 as support and $68,000 as near resistance. A daily close below $65,000 risks momentum sells, while a recovery above $68,000 could ease pressure and invite mean reversion attempts.
How could Trump tariffs affect crypto markets?
Higher tariffs raise growth and earnings uncertainty. That often lifts the US dollar and dampens risk appetite, pressuring crypto. It can also widen spreads and reduce liquidity. Short bursts of selling may overshoot during thin markets, so plan entries and exits in advance to avoid forced trades.
What risk controls help before I sell bitcoin?
Write rules for stop-loss placement, position size, and maximum daily loss. Use ATR-based stops to scale with volatility. Stage orders to reduce slippage. Separate trading from long-term holdings to avoid selling core positions in stress. Log every trade’s reason so you can refine the process objectively.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.