Bitcoin (BTC) is trading at $65,800 U.S. in early trading on Feb. 25 after falling as low as $63,000 U.S. over the past 24 hours.
Analysts say Bitcoin is struggling to hold the key support level of $65,000 U.S. as downward pressure continues to drag on the largest cryptocurrency by market capitalization.
BTC is getting some help from a weaker U.S. dollar and a rise in Asian tech stocks. Analysts also point to an easing of the selloff in software stocks over artificial intelligence (A.I.) worries.
The broader cryptocurrency market capitalization had fallen to $2.19 trillion U.S. in recent days, retesting the lows seen on Feb. 5 of this year.
Some crypto analysts are warning that if Bitcoin fails to maintain $65,000 U.S., its price could drop a further 25% in coming weeks.
Key to a sustained recovery in Bitcoin’s price will be an improvement in investor sentiment towards risk assets such as crypto, say analysts.
In an encouraging sign, other major cryptocurrencies such as Ethereum (ETH), Solana (SOL), and XRP (XRP) are each up more than 3% early on Feb. 25.
The U.S. dollar could provide a tailwind for crypto with the greenback moving lower after U.S. President Donald Trump's State of the Union address.
A weaker dollar has historically been positive for Bitcoin and other crypto.
Still, hurdles remain. A new Bloomberg survey of analysts found that there remains a “crisis of confidence” in Bitcoin and other digital assets.
BTC is down 25% so far in 2026.
