Bitcoin Drops to $64,300 Amid U.S. Tariff Uncertainty

Bitcoin experienced a significant decline, dropping 4.8% to $64,300, marking its lowest level since February 6. This downturn occurred amid renewed uncertainty regarding U.S. tariff policies, which have rattled global markets and affected major cryptocurrencies.

Ether, the second-largest cryptocurrency, also saw a decline of 5.2%. Analysts noted that the cryptocurrency market remains vulnerable due to shifting macroeconomic conditions, including geopolitical tensions and rapidly changing U.S. trade policies.

The market lost roughly $100 billion in value within 24 hours, according to Coingecko. Deribit, a derivatives exchange, reported that traders are heavily positioned for downside protection around the $60,000 price level.

The uncertainty was exacerbated by a Supreme Court ruling that invalidated former President Donald Trump’s emergency powers to impose tariffs, injecting further unpredictability into the global trade outlook. Bitcoin's momentum has waned since earlier this month, with a notable outflow of $3.8 billion from U.S. listed Bitcoin exchange-traded funds over five consecutive weeks.