Crypto Market Crash: Glassnode & 10x Research Warn Deeper Bitcoin Price Fall Ahead

Crypto market crash deepens as Bitcoin, Ethereum, XRP, BNB, Solana, Cardano and other altcoins extend losses. Traders and TradFi focus on AI-disruption fears, trade war, and US-Iran geopolitical tensions.

Crypto market cap plunges another 3% to hit a 2-year low of $2.18 trillion. Bitcoin price tumbled to $62,709 today, now officially down 50% from its all-time high. Ethereum fell to $1,810 lows amid selloffs by Vitalik Buterin and whales.

Top altcoins XRP, BNB, Solana, DOGE, Cardano (ADA) and HYPE are crashing steeper, triggering widespread liquidations and bearish sentiment. On-chain analytics firm Glassnode and research firm 10x Research highlighted structural weaknesses and liquidity risks that could drive further price falls.

Crypto Market Crash as Bitcoin Price Tanks amid AI-Driven Stock Selloff

Bitcoin price broke below $63,000 after the US stock market erased $800 billion amid AI-disruption fears. This happened as Anthropic announced that its AI assistant Claude can now streamline COBOL code, causing IBM stock to tank 13%.

The “AI taking over the world” is becoming the consensus view in recent weeks, with companies investing massively into AI developments. As BTC is moving in line with Nasdaq 100 and tech stocks, Bitcoin price tumbled another 4% $62,709 today.

It’s official:

IBM stock, $IBM, just posted its worst day since October 2000 after Anthropic announced that Claude can streamline COBOL code.

Today is the day AI became dystopian for millions of people. pic.twitter.com/OHaVWbZrdT

— The Kobeissi Letter (@KobeissiLetter) February 23, 2026

In the last 2 days, almost $850 million in top crypto assets have been liquidated during the latest market meltdown. According to CoinGlass data, more than 121K traders were liquidated in the past 24 hours.

The largest single liquidation order occurred on Aster, as someone sold BTC long position worth $2.95 million. Over $300 million in long positions and $85 million in short positions were liquidated in the past 24 hours.

Bitcoin, ETH, SOL, XRP, HYPE, DOGE, ESP, BCH, FARTCOIN and ADA were among the most liquidated crypto assets in the past 24 hours. Sell pressure eased slightly but spot, derivatives, ETF, and on-chain indicators showed a defensive stance among traders and TradFi institutions.

Glassnode Flags Structural Breakdown and Bitcoin Price Crash Risks

Glassnode signals further Bitcoin crash as on-chain metrics point to thin liquidity, surging realized losses, and weak accumulation.

The Realized Profit/Loss Ratio (90D-SMA) is now below 1, indicating that short-term holders are realizing massive losses. Glassnode claimed a break below 1 had sustained for more than 6 months.

A recovery above the 1 mark had historically led to a constructive return of liquidity to the crypto market. Meanwhile, market participants are watching the Realized Price near $55,000 for a potential bottom.

Crypto Market Crash to Intensify as 10x Research Predicts Bitcoin Fall in Coming Days?

Bitcoin option expiry dynamics, political uncertainty, and positioning are converging, 10x Research indicated. It warns about a potential break below $60,000 in the coming days, intensifying the crypto market crash.

Analyst predicts Bitcoin price action will remain challenging in the near term, as stablecoin growth has stalled. The passage of the crypto market structure bill will not immediately increase stablecoin expansion.

“Understanding the probability, flows, and incentive structure behind this setup is essential because when gamma turns negative and positioning becomes crowded, price moves can accelerate far faster than fundamentals alone would suggest,” 10x Research added.

Analyst Caleb Franzen claims Bitcoin price will record 80% drawdown this cycle before rebound. Also, a rise in Bitcoin’s 200-week moving average should not mean the crypto market crash is nearly over.

Crypto analyst Ali Martinez shared a Bitcoin 3-day chart, highlighting a potential death cross between the 50- and 200-day SMAs on February 27.