Bitcoin fell below $65,000 on Monday as investors weighed rising tariff uncertainty and geopolitical concerns.
The token traded as low as $64,830 in the early going, continuing the nearly 5% decline that began the previous day. Over the weekend, the decline took the digital asset to an all-time high of $64,324, its lowest level since February 6th at $60,062.
Bitcoin was down more than 2% at $65,836.68 as of 9:40 a.m. ET.
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Bitcoin year to date
The world’s oldest cryptocurrency has plunged, especially as geopolitical and macroeconomic uncertainties cause investors to flee risk-on investments.
Last week, US President Donald Trump said he would decide whether to attack Iran “probably in the next 10 days” because of Iran’s resistance to the new nuclear deal. Tensions appear to have escalated in recent days as the United States continues to deploy military forces across the Middle East.
Separately, President Trump on Saturday raised so-called retaliatory tariffs on many of the United States’ foreign trading partners to 15%, “effective immediately,” just one day after the Supreme Court struck down previous trade taxes.
Since the start of the year, Bitcoin has fallen 24% due to an onslaught of macro threats, while risk-off assets such as precious metals have soared. Gold is up about 20% year-to-date, while silver is up 23% over the same period.
