Bitcoin fell below $65,000 on Monday, sliding to its lowest level in more than two weeks as renewed tariff worries shook global markets. On Saturday, US President Donald Trump said he would increase the newly announced 10% global levy to 15%, a day after unveiling the initial measure. The escalation followed the US Supreme Court’s rejection of his broader reciprocal tariff plan, injecting fresh uncertainty into the economic outlook.
The announcement raised concerns that existing trade agreements between the US and its partners could come under strain, even as senior US officials insisted that current deals would remain intact. At the same time, investors were contending with rising geopolitical risks, amid fears that the Trump administration could take military action against Iran following stalled nuclear talks. Diplomats are scheduled to resume negotiations in Geneva on Thursday.
Amid this backdrop, Bitcoin and the wider cryptocurrency market have underperformed relative to other asset classes, once again failing to act as a dependable hedge against economic and geopolitical uncertainty—unlike gold, which has retained its status as a preferred safe-haven asset.
