Bitcoin briefly traded above $65,000 earlier today before turning lower in Asia as investors digested the implications of a new U.S. tariff policy. The tariff news came despite a U.S. Supreme Court ruling that rejected the use of emergency powers to impose tariffs, underscoring the political risk in play. Bitcoin fell as much as 4.8% to around $64,300, the lowest since February 6. Other major cryptocurrencies dropped more sharply, with Ethereum down about 5.2%.
Selling pressure followed the U.S. government’s announcement that trade deals signed on February 22 with partner nations remain valid, even as the tariff plan moved forward. Analysts cited policy uncertainty and global risk sentiment as key drivers of the move. Looking ahead, the $65,000 level remains a crucial technical support. A break below could prompt a retest of the $60,000 area, while a sustained move above $70,000 would be needed to shift momentum higher.
Bitcoin’s volatility underscores that the market is highly sensitive to macro headlines and policy decisions, rather than acting as a traditional safe-haven. Investors will likely remain cautious until policy clarity emerges.
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