Bitcoin dipped 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.
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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 forces across the 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.
