QCP: Bitcoin drops below $65,000 triggering long liquidation, mining companies accelerate de-risking but selling pressure remains moderate

SmartContractAuditor · 2026-02-23T10:36:18+00:00

QCP Group analysis indicates that Bitcoin falling below $65,000 triggered approximately $230 million in long liquidations, with the market affected by the U.S. tariff hikes and geopolitical risks. Despite mining companies facing pressure and liquidating Bitcoin reserves, the market response has been relatively mild, with the options market pricing in downside risk, and the capital structure adjustment has not completely exited.

SmartContractAuditor

2026-02-23 10:36:18

Abstract generation in progress

Odaily Planet Daily reports that QCP Group’s latest analysis indicates that Bitcoin fell below $65,000 in early trading today, triggering approximately $230 million in long liquidations. The market is under pressure as it digests a new round of tariff risks and broader geopolitical uncertainties. The move by U.S. President Trump to raise global tariffs from 10% to 15% further dampens macro risk appetite. With Bitcoin prices still significantly below average mining costs, miner pressure is evident, and liquidity is prioritized over holding strategies. Among them, Bitdeer has liquidated its Bitcoin reserves, signaling a move by miners to de-risk and partially shift toward the AI sector. However, the market is not entirely bearish; this liquidation chain reaction has been notably milder compared to earlier this year, and market reactions to news are more restrained. Although the options market still prices in downside risk, the position structure appears cleaner. Additionally, ETF capital flows resemble more of a basis trade unwind rather than a full withdrawal, indicating that capital structures are adjusting rather than exiting the market entirely.

BTC-4,2%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.