BTCUSD Today: Tariff Shock Knocks Bitcoin Near $65K — February 23
Bitcoin price USD slid toward $65,000 today after President Trump proposed a 15% global tariff. The headline pushed investors to risk-off sentiment, with the Nasdaq 100 slide and gold seeing a haven bid. BTCUSD printed a low of $63,422.17 and last traded at $63,479.33, down 6.12% on the session. Liquidity looked thin and conviction weak. For Canadian investors, FX swings and cross-asset moves matter. We break down what drove today’s move, the technical setup, and practical steps to manage exposure while tracking the Bitcoin price USD.
Tariff shock and cross-asset moves
A proposed 15% global tariff from President Trump jolted macro expectations and lifted uncertainty premia. The Trump tariff plan hit risk assets as tech led the sell-off, and the Nasdaq 100 slide fed into digital assets as beta tightened. Crypto often trades like a high-volatility tech proxy during risk-off sessions. That pattern held today, with bitcoin retreating up to 5%. Traders faded rebounds as policy risk stayed high source.
Safe-haven demand favored gold, while energy and materials helped cushion Canadian equities. For Canadians, performance is best viewed in local currency and after fees. A weaker Canadian dollar can lift crypto returns when converting back to CAD, but the reverse also applies. With policy and equity stress in focus, capital rotated to cash and bullion, pressuring digital assets even as some funds kept watch on the Bitcoin price USD for tactical entries.
Internals and technical picture
Spot sits near $63,479.33 after a $63,422.17 low and $64,988.32 high. Volume was 121,187,244 versus a 472,503,919 average, a sign of weak liquidity. RSI at 30.50 signals near-oversold conditions. ADX at 50.17 points to a strong downtrend. ATR is 3,803.17, implying wide intraday swings. Price slipped below Keltner lower at 64,675.17 and is leaning toward Bollinger lower at 56,580.19, keeping pressure on the Bitcoin price USD.
We watch $65,000 as a pivot, $60,001 as the 1-year low, and $50,000 as a potential downside target that some analysts cite before a durable base. On strength, the mid Bollinger band near 72,534 and the 50-day average at 81,300.30 are first tests, with the 200-day near 98,927.34 next. MACD below its signal and a negative histogram support caution for the Bitcoin price USD.
Scenarios and strategy for Canadians
If policy headlines calm and megacap tech steadies, a relief bounce is possible, but conviction looks light. Coverage of today’s fade underscores that caution source. Our baseline model sees a 1 month mean near $54,426.81 and a 1 year estimate around $98,201.37. That range argues for staged entries and clear risk limits while we track how the Bitcoin price USD reacts to news flow.
For Canadian accounts, manage both crypto and currency risk. Consider smaller position sizes, spaced purchases, and stop-loss rules. Use cash buffers and avoid high leverage. The composite grade sits at C+ with a HOLD stance, so patience helps. If you use local spot or ETF products, check fees and tracking. Keep alerts at $65,000, $60,000, and $50,000 while monitoring the Bitcoin price USD.
Final Thoughts
Today’s tariff shock pushed investors to safety and took bitcoin lower with tech. The Bitcoin price USD touched $63,422.17 and hovered near $63,479.33, with thin volume and an RSI near 30.50. The setup shows a strong but stretched downtrend, as ADX sits near 50 and price tests lower volatility bands. For Canadians, equity weakness, FX swings, and gold strength shaped the day.
Our take: trade the tape, not the headline. Plan around clear levels and size positions for wide ranges. Consider staggered entries only if price can reclaim and hold above $65,000, with tighter risk below $60,000. Respect the chance of a final washout toward $50,000 if policy risk lingers or the Nasdaq 100 slide deepens. Keep dry powder, review fees on local products, and track the Bitcoin price USD with discipline. This article is for information purposes only, not investment advice.
FAQs
Why did Bitcoin drop today?
Markets reacted to a proposed 15% global tariff, which raised uncertainty and pushed investors into risk-off sentiment. Tech weakness and a Nasdaq 100 slide spilled into crypto. Liquidity was thin and conviction low, so sellers had the upper hand. Gold drew haven flows, further weighing on risk assets.
What key levels should traders watch now?
Watch $65,000 as a near-term pivot. The 1-year low at $60,001 is key support, with $50,000 a potential downside target if selling extends. On rebounds, focus on 72,534, the 50-day at 81,300.30, and the 200-day near 98,927.34 as possible resistance zones.
How does this affect Canadian investors specifically?
Returns depend on both asset moves and currency. CAD weakness can boost gains when converting from USD, while CAD strength can trim them. Consider using CAD-denominated accounts or hedged products if FX swings matter to you. Fees, spreads, and tracking error in local spot or ETF products also affect outcomes.
Is the pullback a buy or a time to wait?
Momentum is down, even as RSI nears oversold. The composite grade is C+ with a HOLD stance. Consider staged entries only if price reclaims and holds above $65,000. Use tight risk below $60,000, respect a possible $50,000 test, and align size with your plan and time horizon.
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.