Bitcoin slid to around $62,994, down about 3.3% from the prior day, as global geopolitical tensions and tariff disputes weighed on sentiment. Ethereum also fell, trading around $1,824, down about 7.6%. The direct catalyst was the U.S. Supreme Court’s ruling voiding mutual tariffs on the 20th, which intensified uncertainty around tariffs and risk-off dynamics. Bitcoin’s decline contrasted with gold, which rose as much as 55% from its October peak, underscoring a widening divergence between crypto and traditional safe havens.
Bloomberg data show that over the past three months, gold and gold-related ETFs attracted more than $160 billion in inflows, while Bitcoin spot ETFs saw about $3.3 billion flow out. Bitcoin’s market capitalization declined by more than $1 trillion. Deutsche Bank macro strategist Marion Laboure said Bitcoin is no longer digital gold, noting ongoing selling pressure signals pessimism across the crypto market. Orbit Markets co-founder Caroline Mora suggested the $60,000 level could be tested.
ETF approvals reduced regulatory uncertainty but also trimmed speculative premiums. The rise of dollar-linked stablecoins is raising questions about their use as a payment method. Bloomberg argued that Bitcoin lacks intrinsic strength, with value largely dependent on belief and storytelling that may be faltering. A crypto analyst said Bitcoin has become a macro asset that must compete with other alternatives.
Still, optimism persists, as MicroStrategy added 592 BTC for about $39.8 million on the 23rd, lifting total holdings to 717,722 BTC. Michael Saylor, the firm’s founder, projected Bitcoin could surpass gold in market value by 2035. Eric Trump, son of the former president and a crypto entrepreneur, said he is confident Bitcoin could reach $1 million, adding he has never been more bullish on the sector.
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