Cryptocurrency Market Plummets $100 Billion Amid Global Turmoil

The cryptocurrency market has been hit with a sharp decline on February 23, 2026, resulting in a loss of approximately $100 billion in total valuation. The 4.3% slide is a significant downturn that has left investors reeling. According to data from CoinGecko, the current market decline represents one of the most significant losses since 2022, when the aggregate valuation of digital assets dropped to about $2.2 trillion.

The trend is attributed to several factors, including trade tensions between the U.S. and India, global tariff hikes, and growing macroeconomic uncertainties. The fear index has hit a nadir of 5, signaling extreme investor panic. This has led to a surge in liquidations, with about $470 million in long positions wiped out within 24 hours.

The decline is not just limited to individual cryptocurrencies but reflects the broader market sentiment. Major cryptocurrencies like Bitcoin and Ethereum have experienced substantial declines, with Bitcoin dropping 48% from its peak and Ethereum falling 62% from its all-time high. Other altcoins have also posted significant losses, underscoring the extreme volatility in the cryptocurrency market.