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The price of Bitcoin fell by more than -5% overnight, causing the asset known as “digital gold” to fall below the psychological level of $65,000 after President Trump announced plans to increase global tariffs to 15%.
Tariff concerns have been at the root of many of the recent problems in cryptocurrency markets, with Trump regularly sparking sell-offs by talking about financial sanctions on China, the EU and others.
This recent move triggered a strong rotation of risk aversion across all asset classes, causing a drop of -3.2% across the entire crypto market and leading the Fear & Greed index to fall to 5/100, a level not seen since the March 2020 COVID crisis.
As of mid-morning of this Monday trading session, BTC USD has slightly recovered from its daily drop, regaining $65,000 and now trading at $65,700.
Why Trump’s Tariffs Are Rocking Crypto Markets
The selloff intensified after President Trump used Section 122 of the Trade Act of 1974 to impose a 15% tariff on imports, overturning an earlier Supreme Court rejection of similar measures, which has caused an uproar across the United States.
This regulatory unpredictability has spooked risk assets, causing a decoupling of regional stock markets. Jeff Mei, chief operating officer of BTSE, stated that “the sudden increase in tariff rates is causing investors to sell crypto assets in anticipation of a more severe market decline.”
Beyond the trade economy, geopolitical fears are aggravating selling pressure. With prediction markets price fixing in possible military attacks against In Iran, traders are liquidating speculative positions to secure capital.
The combination of aggressive trade policy and continued military provocations has created a hostile environment for risk assets such as cryptocurrencies.
At the same time, gold is trading back above $5,000 and appears poised for a new all-time high, while the S&P500 is trading just below its previous highs, underscoring how cryptocurrencies are the biggest victim of the global economic situation.
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ETF outflows indicate institutional caution for Bitcoin price
Institutional appetite appears to be declining along with retail sentiment. According to data from CoinGlass, US spot Bitcoin ETFs recorded nearly $320 million in net outflows last week, marking the fifth consecutive week of negative flows amid cooling demand.
While gold gained +2.6% last week and continues to act as a traditional safe haven asset, Bitcoin has seemingly shed its “digital gold” narrative amid this continued volatility.
Markus Thielen, head of research at 10x Research, noted that the drop is due less to a single headline and more to weak liquidity, suggesting the market is in a “typical bear market phase” characterized by uncertainty and low conviction.
What will happen to us next?
The technical outlook has destroyed immediate support levels. While traders were previously buying crash protection near $67,000, that floor has now collapsed.
This weakening price action is lending credibility to Standard Chartered, cutting its Bitcoin price prediction for 2026 to just $50,000.
Thielen expects more declines, potentially testing that $50,000 level before a true bottom can form.
Prediction markets confirm this bearish outlook. Polymarket shows that 62% of users believe Bitcoin USD will fall below $50,000 this year, in line with Standard Chartered’s prediction.
Bulls must quickly recover $67,500 to avoid another cascading liquidation after more than $500 million was wiped out in the last 24 hours.
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