Bitcoin Struggles to Recover Above $66,000 After Sharp Decline

Bitcoin Struggles to Recover Above $66,000 After Sharp Decline

As of February 24, Bitcoin slid below $65,000 to around $63,000, approaching monthly lows and intensifying pressure on major altcoins including Ethereum and Ripple.

BTC
ETH
XRP

Fact Check
Multiple credible sources indicate Bitcoin experienced a sharp drop and traded around the $66,000 mark, with at least one market tracker noting it dipped below $66,000. Established outlets report the price fell to roughly $66,000 following market catalysts, and exchange/community updates show trading in the $66,000–$66,500 range, consistent with a sharp decline. Separately, there is evidence of a notable increase in Bitcoin mining difficulty (e.g., a ~15% surge), supporting the claim that difficulty was rising during this period. However, the phrasing 'difficulty rising above that level' is imprecise, since mining difficulty is not measured in dollars and cannot be 'above $66,000.' The core substance—price falling to/below $66,000 and difficulty increasing—is supported, but the wording introduces a conceptual mismatch, which slightly reduces confidence.
Summary

On February 24, Bitcoin fell below the $65,000 support, trading near $63,000 and approaching its monthly low. The drop weighed on major altcoins such as Ethereum (ETH) and Ripple (XRP). The move extends volatility from earlier in the week, when BTC retreated roughly 5% from a $66,465 high, keeping broader crypto markets on the defensive.

Terms & Concepts
  • BTC: Ticker symbol for Bitcoin, the largest decentralized cryptocurrency by market value.
  • ETH: Ticker symbol for Ethereum, a blockchain platform with a native cryptocurrency used for smart contracts and decentralized applications.
  • XRP: The native digital asset used by Ripple’s payment network to facilitate fast, low-cost cross-border transactions.