Bitcoindipped below $65,000 on Monday as investors weighed mounting tariff uncertainties and geopolitical concerns.
The token traded as low as $64,830 early as it continued a nearly 5% slide that began a day earlier. Over the weekend, that decline brought the digital asset to $64,324 at its nadir, marking its lowest level since Feb. 6 when it hit $60,062.
Bitcoin was last down more than 2% at $65,836.68 at 9:40 a.m. ET.
Bitcoin YTD
The world’s oldest cryptocurrency has taken a dive, particularly as geopolitical and macroeconomic uncertainties spark investors’ flight from risk-on investments.
Last week, U.S. President Donald Trump said he would decide whether to strike Iran “over the next probably 10 days” due to its resistance toward a new nuclear deal. The tensions seemed to build over the past few days, with the U.S. continuing to position its military forcesacrossthe Middle East.
Separately, Trump said Saturday in a social media post that he would raise his so-called retaliatory tariffs against many of the U.S.’ foreign trading partners to 15%, “effective immediately,” just one day after the Supreme Court struck down his previous trade taxes.
Since the beginning of the year, Bitcoin has lost 24% due to the onslaught of macro threats, while risk-off assets like precious metals have surged. Gold has gained about 20% in the year to date, while silver has added 23% during the same period.
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