Bitcoin Price Plummets Below $65K Amid Trade Uncertainty

The price of Bitcoin (BTC) experienced a significant drop on Monday, falling below the $65,000 mark due to trade uncertainty. According to analysts, the sudden uptick in tariff rates announced by US President Donald Trump is causing investors to sell their crypto assets, anticipating a potential market decline.

Markus Thielen of 10x Research notes that the decline was driven by weak liquidity and low conviction rather than a single headline. He predicts further downside towards $50,000 before a stronger bottom forms in the market.

The price of Bitcoin has been under pressure since reaching its peak in October, with a 26% drop this year and over 47% from its all-time high. In contrast, spot gold saw an increase of about 1.5% on Monday due to safe haven demand.