As of March 2, 2026, the cryptocurrency market continues its deep adjustment pattern, with Bitcoin trading weakly around $64,800, a 50% decline from the October 2025 all-time high of $126,000. The current market fear and greed index has dropped to an extreme value of 6, and over $460 million has been liquidated across the network in the past 24 hours, reflecting investor panic reaching its peak for the year.

This round of decline has been triggered by multiple macroeconomic negative factors: the Federal Reserve maintaining high interest rates and delaying rate cuts, escalating geopolitical risks (tensions between the US and Iran), combined with continuous institutional capital outflows (spot ETF net outflows exceeding $4 billion for four consecutive months). Technical analysis shows Bitcoin is in a daily downtrend channel, with key support lowered to the $60,000 mark. If broken, it could open a downside space of $40,000-$50,000.
In the short term, the market will focus on the March Federal Reserve meeting. If a clear rate cut signal is issued or ETF capital flows back, a technical rebound may be triggered. However, in the medium term, the market still faces risks of high leverage liquidations (market depth shrinking by over 30%) and regulatory uncertainties (advancement of the US stablecoin legislation). Investors are advised to maintain a defensive strategy, keep spot holdings between 20-30%, avoid high leverage operations, and pay close attention to breakout signals at the $64,500 support level and the $67,000 resistance zone.