Bitcoin Takes a Hit as Trump Tariffs Fuel Uncertainty

Bitcoin has experienced a significant downturn following US President Donald Trump's announcement to increase global tariffs to 15%. The move has created uncertainty among investors, leading to a sharp sell-off of the cryptocurrency.

The price of Bitcoin fell as much as 5% to below $65,000 on Monday, with experts attributing the decline to weak liquidity and low conviction in the market. This is not the first time Bitcoin has seen a significant drop in value, having lost over 47% since hitting a high of $125,000 in October.

Investors are also concerned about the potential for an armed conflict between the US and Iran, which could impact global trade flows. Safe-haven demand is driving spot gold prices higher, with the precious metal trading over 1% above its previous value.