Bitcoin Breaks Below Critical $63,000 Support

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Adoption vs. price action The main culprit Why $60,000 is critical Advertisement Bitcoin has broken below the $63,000 mark, trading at $62,945 late Tuesday. The largest cryptocurrency has now extended a brutal month-long correction that has seen the world’s largest cryptocurrency shed nearly 50% of its value since its October 2025 highs. Adoption vs. price action In a recent interview with the Charles Schwab Network, John Haar, Managing Director of Swan Bitcoin, addressed the confusion plaguing investors who are watching institutional adoption rise while prices crater. HOT Stories Bitcoin Breaks Below Critical $63,000 Support Crypto Market Review: Ethereum (ETH) Must Protect $1,885, Is XRP Close to Losing $1? Shiba Inu: Why Outlook Is Shifting "I think we do have to just be honest about the fact that most people did not predict a 50% price decline," Haar stated. "It is a frustrating environment, I would say, for any Bitcoin believers because there are so many positive underlying adoption events under the surface." Advertisement You Might Also Like Mon, 02/23/2026 - 05:17 Bitcoin Plunges Below Key Level. Is $45K Next? By Alex Dovbnya Haar pointed to massive institutional inflows that seemingly contradict the bearish price action. "Whether it's Harvard owning half a billion dollars worth of Bitcoin, whether it is Middle Eastern sovereign wealth funds owning a similar amount of Bitcoin, [or] whether it is Vanguard opening the door to their clients to purchase the Bitcoin ETFs after they held out for a long time," Haar noted. "There are all these big things happening that we really wouldn't have believed a few years ago if you would have told us." Advertisement The main culprit When asked why the price is moving inversely to this good news, Haar pinned the blame on the derivatives market rather than spot selling. "I think a lot of participants in Bitcoin, whether I like it or not—and I don't like it—they are very leveraged speculative traders," Haar explained. "If their bets are not correct in a short period of time, then leverage can cause things to unwind more dramatically and move pretty forcefully." Haar suggests that the rapid descent from the $127,000 highs was a result of these leveraged players getting caught offside and being forcibly liquidated. However, he remains bullish on the long-term trajectory, noting that Bitcoin's "floors" keep rising. "It was roughly three and a half years ago that Bitcoin was crashing to $16k. Before that, Bitcoin crashed to $3k. Now it's crashing to $65k," Haar said. "I think in a few years it will crash to a higher number." Why $60,000 is critical As reported by U.Today, venture capitalist Vinny Lingham warns that the true line in the sand sits slightly lower. According to Lingham, the $60,000 mark represents the difference between a recovery and a total market capitulation. Specifically, he warned that MicroStrategy (MSTR), the largest corporate holder of Bitcoin, could see its stock price drop below $100 in such a scenario. #Bitcoin Price Prediction