February 28, 2026, the crypto market remains in a deep adjustment and consolidation phase. BTC is around $66,000, up slightly by 2% in 24 hours, but nearly halved from the October 12, 2025, all-time high of $126,000; ETH hovers near $1930, with a total market cap of approximately $2.27 trillion (down 2.35% in 24h). The Fear and Greed Index is only 11-14, maintaining an "Extreme Fear" level.

Since February, influenced by the Trump administration's global tariff upgrades, Middle East geopolitical tensions, high inflation data, and declining risk appetite, crypto, as a high-beta asset, has come under pressure along with US tech stocks, with funds flowing into gold. Although ETF net inflows have turned positive, the scale is limited, leveraged liquidations are frequent, BTC dominance is about 58%, and altcoins are showing clear divergence.

On the technical side, BTC is weakly oscillating in the $64,000-$68,000 range, with key support at $60,000-$64,200. In the short term, it may repeatedly test the bottom, with attention to Federal Reserve interest rate decisions and macro liquidity. In the long term, regulatory benefits from the GENIUS Act, expansion of institutional custody, and the wave of tokenization will provide support, and a rebound window may emerge in the second half of 2026. It is recommended to stay out of the market, patiently wait for bottom confirmation, and avoid chasing highs or blindly using leverage.