Bitcoin Plunges Below $65,000 Amid US Tariff Uncertainty

The global market has been hit with another wave of volatility as Bitcoin's value fell below the $65,000 mark for the first time in eight months. The drop is largely attributed to uncertainty over US tariffs imposed by President Donald Trump.

Riya Sehgal from Delta Exchange noted that Trump's 15% global-tariff announcement triggered a sharp risk-off rotation with capital flowing towards safe-havens like gold and silver. This has led to a decline in cryptocurrency values, with Bitcoin down 26% this year alone and over 47% from its October peak.

Other popular tokens such as Ethereum have also declined by 5.2%, while the overall crypto market cap is in the red at $2.23 trillion with trading volumes at $67.07 billion according to CoinMarketCap data.