Bitcoin Price Dips Below $64,000 Amid Middle East Tensions

The global cryptocurrency market witnessed a significant downturn on February 28, 2026, as the price of bitcoin fell below the $64,000 threshold. This correction is not limited to bitcoin alone, with other assets in the market also experiencing losses.

According to data from TradingView, the hourly BTC/USDT chart on the Binance exchange showed a sharp decline in the asset's value. The macro backdrop, specifically the escalating geopolitical situation in the Middle East, is being cited as a possible driver of this correction.

The Fear and Greed Index has fallen by two points compared to the previous day's reading, indicating a predominance of sell-side sentiment in the market. Daily liquidations on crypto asset futures contracts have exceeded $445 million, with over 135,000 traders seeing their positions forcibly closed. Bitcoin and Ethereum are among the assets leading the way in terms of losses.