Bitcoin Dips Under $65,000 Amid Renewed Trade Policy Jitters

Bitcoin declined during early Asian trading on Monday, affected by renewed anxiety surrounding US tariff policies.

The leading cryptocurrency dropped by as much as 4.8% to around $64,300, marking its lowest price point since February 6. Other major digital currencies experienced steeper declines, with Ether, the second-largest token, falling 5.2%.

This downturn followed statements from US officials on Sunday, who confirmed that previously negotiated trade agreements with partner nations remain valid. This clarification came after a Supreme Court decision invalidated the use of emergency powers by former President Donald Trump to implement tariffs.

Adding to the economic uncertainty, Trump stated in a social media post on Saturday that he would raise a previously announced global 10% tariff to 15%, fueling further market volatility. The US dollar and US stock futures also saw declines in early Asian trading sessions.

"The cryptocurrency market remains fragile, with participants looking for support at the $60,000 level," commented Caroline Mauron, co-founder of Orbit Markets. "Macroeconomic uncertainties, ranging from geopolitical tensions involving Iran to sudden changes in US tariff policies, are currently pressuring the market and could lead to another test of that support level."

Analyst Rachael Lucas from BTC Markets highlighted that $65,000 is a crucial support level for Bitcoin.

"A clear break below this level would make a drop to $60,000 a real possibility," she noted. "For a positive shift in market sentiment, buyers need to push the price back above $70,000."