Bitcoin Crashes to $64K: Trump Tariffs Ignite ‘Bitcoin to Zero’ Panic—What’s Next?

Bitcoin is getting hammered, sliding to a painful $64,400 as global economic fears collide with market jitters. The latest blow comes from U.S. President Donald Trump’s bombshell announcement of a 15% hike in global import tariffs, stoking worries of an economic slowdown. Retail investors are in full freak-out mode, with Google Trends showing a record surge in searches for “Bitcoin to zero,” while technical indicators and broader crypto declines paint a grim picture. Let’s cut through the noise and dig into what’s happening.

• Bitcoin plummets to $64,400 amid a crypto market rout.
• Trump’s 15% tariff hike sparks fears of economic fallout.
• “Bitcoin to zero” searches hit all-time highs, signaling retail panic.
• Key support at $60,000—if broken, expect brutal liquidations.

Macro Mayhem: Trump’s Tariffs Shake Crypto Markets

The crypto market is taking a beating, and Bitcoin (BTC), the heavyweight of the space, is at the center of the storm. On February 23, BTC’s price slumped to $64,400, barely clinging to the $65,000 level that many see as a psychological barrier. This isn’t an isolated dip—the total crypto market has hemorrhaged billions in value, with data from CoinMarketCap showing major altcoins like Ethereum (ETH) down 5% and others shedding 3% to 8%. But what’s behind this bloodbath? The answer lies in a toxic mix of macroeconomic headwinds and policy shocks.

At the heart of the turmoil is Trump’s announcement of a 15% increase in global import tariffs. For those not steeped in economics, tariffs are taxes on imported goods, and hiking them this sharply raises costs for businesses and consumers alike. The ripple effect is nasty: higher prices can choke consumer spending, slow business growth, and strain international trade. For speculative assets like Bitcoin—often seen as a barometer of risk appetite—this spells trouble. When the economy looks shaky, investors bolt for safer bets like cash or bonds, a phenomenon known as “risk-off sentiment.” Add in declining U.S. housing sales data and a stronger yen (thanks to tighter Bank of Japan policy expectations), and you’ve got a perfect storm. Bitcoin, despite its “digital gold” hype, gets slammed as global funds scale back high-risk positions—a process called deleveraging, where investors cut borrowed bets to limit losses.

Let’s not kid ourselves: crypto isn’t insulated from the whims of global finance. Tariffs and trade tensions have historically rattled risk assets—back in 2018, during U.S.-China trade war escalations, Bitcoin cratered 30% in a month. Could we be in for a repeat? It’s not just about economics; it’s psychology. When headlines scream “slowdown,” even the most diamond-handed HODLers start sweating.

Retail Panic: ‘Bitcoin to Zero’ Fears Surge

If the macro picture wasn’t bad enough, retail investors—the everyday folks fueling crypto’s hype cycles—are losing their cool. Google Trends data has picked up a jaw-dropping spike in searches for “Bitcoin to zero”, a phrase that screams raw, unfiltered panic. For the uninitiated, Google Trends tracks how often people search for specific terms, and a surge like this often flags mass fear or desperation. It’s not just noise; it’s a window into the deteriorating sentiment among small-time BTC holders. We’ve seen this playbook before, in the bear markets of 2018 and 2022, where online chatter and social media amplify FUD (fear, uncertainty, and doubt). Apparently, some think Bitcoin’s heading for the same graveyard as dial-up internet—spoiler: it’s not that simple to kill.

This kind of panic isn’t just a meme; it can become a self-fulfilling prophecy. When newbies see crashing prices and start Googling doomsday scenarios, they’re more likely to dump their holdings, adding sell pressure. For anyone who bought in at $70K last month, the urge to smash their laptop must be real. But let’s step back: hasn’t Bitcoin been pronounced dead a hundred times before? Every crash brings out the obituary writers, yet here we are, still talking about it.

Technical Breakdown: What the Charts Tell Us

Shifting gears to the nitty-gritty, Bitcoin’s price chart looks like a horror flick. According to TradingView’s BTCUSD data, the price is teetering near a critical support level at $64,000, with the lower Bollinger Band—a volatility indicator—sitting at $64,098. If you’re new to this, Bollinger Bands help gauge if a price is overextended; hugging the lower band often means the asset is oversold or poised for more pain. Resistance looms higher at the 20-day moving average of $68,278, a level BTC can’t seem to claw back to. Even scarier is the next major support at $60,000. Analysts warn that if this floor cracks, we could see a cascade of liquidations—think leveraged traders getting wiped out en masse as their borrowed positions implode.

Other metrics aren’t helping. Spot trading volumes have tanked by 59%, meaning there’s less liquidity to soften price swings—every sell order hits harder. In the derivatives market, open interest (the total value of active futures and options contracts) for Bitcoin has collapsed to $19.5 billion, half of January’s peak. Think of open interest as the number of open bets on the table—fewer bets signal less confidence or outright capitulation. Another tool, the Relative Strength Index (RSI), which measures if an asset is overbought or oversold, has Bitcoin nearing 30. Below that threshold often hints at a potential bounce, but it’s no guarantee. Right now, the bears are running the show, and anyone predicting a moonshot to $100K next week is either clueless or a straight-up grifter. Don’t fall for it.

Broader Crypto Fallout: Ethereum and Beyond

Bitcoin’s stumble isn’t happening in a vacuum—the entire crypto space is feeling the heat. Ethereum, the second-biggest player by market cap, is down 5%, and it’s not just macro fears dragging it under. Vitalik Buterin, ETH’s co-founder, recently offloaded millions in tokens, flooding the market with extra supply at the worst possible time. For newcomers, supply pressure happens when more coins hit the market than buyers can absorb, tanking prices. Buterin’s sales don’t necessarily mean he’s lost faith—bigwigs cash out for all sorts of reasons, from funding projects to personal needs—but the optics are lousy, and it’s stoking bearish vibes. When the king (Bitcoin) sneezes, the court (altcoins) catches a cold, and with other major tokens down 3% to 8%, this is a systemic rout.

On-chain data from Glassnode adds more fuel to the fire. Large Bitcoin holders, or “whales” in crypto slang, have been shifting hefty stacks to exchanges. Why does this matter? Moving coins to platforms like Binance or Coinbase often signals intent to sell, as that’s where trading happens. This can flood the market with supply, spook smaller players, and drive prices lower. It’s not just numbers—it’s psychological warfare, and the bears are winning this round.

Playing Devil’s Advocate: Is This Just Another Blip?

Let’s not sugarcoat it: the short-term outlook for Bitcoin and crypto is ugly. Between Trump’s tariff gut-punch, macro gloom, whale selling, and Buterin’s ETH dump, the market feels like a sinking ship. But let’s flip the script for a second. Bitcoin has been through worse—the 2018 crash saw it lose 80% of its value, and the 2022 Terra-Luna debacle obliterated billions overnight. Each time, it clawed back, often stronger, as underlying adoption grew. Wallet addresses holding BTC continue to rise, and the Lightning Network, a scalability solution for faster transactions, is gaining traction. Could this tariff scare be just another speed bump on the road to decentralization?

Bitcoin isn’t tethered to any single nation’s policy; it’s a global, borderless beast. Economic uncertainty might eventually push more people toward alternatives to fiat currencies, especially in inflationary or unstable regions. That’s the long game, though—for now, the pain is real. If anything, this dip could be a buying opportunity for the bold, assuming you’re not over-leveraged and praying for a miracle. For newbies, now’s the time to learn the ropes, not panic-sell. Dollar-cost averaging—buying small amounts over time—might dull the sting of volatility, but only if you’ve got the stomach for it.

What’s Next for Bitcoin and Crypto?

Looking ahead, the crypto market faces a gauntlet of challenges and potential catalysts. Near-term, all eyes are on $60,000—holding that line could steady the ship, but a break below risks a freefall. Macro factors like Federal Reserve moves or further tariff escalations could keep pressure on risk assets. On the flip side, Bitcoin’s halving, expected next year, historically tightens supply and sparks rallies, though past performance isn’t a crystal ball. Institutional adoption, with more ETF filings in the pipeline, could also inject fresh capital, balancing out retail panic.

One wildcard worth pondering: could tariffs and economic policies inadvertently drive regulatory scrutiny on crypto as a perceived “safe haven” loophole? It’s a long shot, but not impossible. If governments start cracking down, it might test the resilience of decentralization itself. Then again, that’s exactly why Bitcoin exists—to challenge centralized control and give power back to individuals.

Key Questions and Takeaways on Bitcoin’s Struggle

• What’s driving Bitcoin’s drop to $64,400?
  Macroeconomic fears, led by Trump’s 15% global import tariff hike, alongside weak U.S. housing data and a risk-off mood in global markets, are pummeling Bitcoin and other risk assets.
• Why are ‘Bitcoin to zero’ searches exploding?
  Retail investors are gripped by panic as Bitcoin struggles at $65,000, with Google Trends capturing record-high searches reflecting fears of a total value collapse.
• What happens if Bitcoin breaches $60,000?
  Analysts warn that falling below this critical support could unleash massive liquidations, especially with thin trading volumes amplifying price swings.
• How are altcoins like Ethereum faring?
  Ethereum is down 5%, hit harder by Vitalik Buterin’s large token sales, while other major altcoins are losing 3-8%, showing widespread market pain.
• Is there a silver lining to this Bitcoin bear market?
  Long-term, Bitcoin’s global nature and resilience could turn economic uncertainty into a driver for adoption, though short-term turbulence is unavoidable.
• Should investors buy the dip or brace for more pain?
  For seasoned HODLers, dollar-cost averaging during dips might make sense, but caution is key—newcomers should focus on education over rash moves in this volatile climate.

Bitcoin’s current woes are a brutal reminder that, for all its revolutionary potential, it still dances to the tune of global finance. Tariffs, currency shifts, and retail hysteria are piling on the pressure, testing the mettle of even the staunchest believers. Yet, every crash in Bitcoin’s history has been a chapter, not the end of the book. The question isn’t whether BTC will survive—it’s whether this is the moment to double down on a system that bows to no government’s whims, or to wait for calmer seas. Stay sharp, keep learning, and let’s ride out this chaos together.