Bitcoin Slumps to Lowest Point Since October as Tariffs and Tensions Take Hold

Bitcoin's price has been on a downward trend for weeks, with its current value sitting at around $62,800 – its lowest point since October 2024. This decline marks the sixth consecutive week of losses for the cryptocurrency, sparking concerns among analysts about the future of Bitcoin.

The introduction of new U.S. tariffs, which impose a 10% levy on all imported goods, has been cited as one of the main factors contributing to the price drop. The move directly contradicts a Supreme Court ruling from last week, creating uncertainty and tension in the market.

According to analysts, this 'policy whiplash' has created a high-stakes legal and economic standoff, making it difficult for investors to make informed decisions. As a result, capital is fleeing cryptocurrency investment products, with spot Bitcoin ETFs recording five consecutive weeks of net outflows.