Bitcoin, Ethereum, and other major cryptocurrencies started the week with declines. Bitcoin’s price slipped below $65,000, trading at $64,780 and down 4.6% over the last 24 hours. Ethereum stood at $1,860, down 5.5% in the same period. XRP fell 5.9%, BNB 5.7%, and Solana (SOL) dropped 8.3%.
The declines are attributed to US policy moves related to tariffs. The US Supreme Court overturned Trump’s tariffs on Friday, but Trump subsequently imposed new tariffs for the entire world, raising the rate from 10% to 15%. These tariff changes sparked panic among cryptocurrency investors, contributing to declines.
Glassnode and CryptoQuant analysts say on-chain data suggests the worst of the panic may be over, but the overall market structure remains under pressure. Analysts say whether the $65,000 level will act as short-term support or whether the limited base formation in a long-term range will continue will be a turning point for future trends. Coinglass data show $459.1 million of leveraged trades were liquidated in the last 24 hours, including $429.2 million from long positions and $29.9 million from short positions. In total, 135,513 traders were liquidated, with the largest liquidation occurring on HTX in the BTCUSDT trading pair.
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