Bitcoin has struggled to regain momentum amid macro headwinds including tariff policy uncertainty and rising tensions in the Middle East. As of 9:00 a.m. ET, Bitcoin traded at $64,631, down 4.06% over 24 hours, about 48.7% below its late-2021 high of $126,211. Major altcoins were weaker as well, with Ethereum down 4.4%, Solana down 5.3%, and XRP down 2.4%.
Policy uncertainty widened after the U.S. Supreme Court halted a mutual tariff policy, even as the administration proposed a new global tariff framework. Escalating U.S.–Iran tensions boosted demand for safe-haven assets, contrasting with gains in real assets like gold and copper while Bitcoin faced selling pressure. Analysts say the decline reflects structural weakness driven by shrinking liquidity, contracting volume, and reduced leverage.
The key price level remains the $60,000 zone; a breach could trigger large-scale liquidations and cascading selling. Some traders view the $64,000 area as a risk zone, making a retest of $60,000 likely if this support gives way.
Civic Coin’s CEO, Lingham, warned that breaking the $64,000 level could trigger a collapse similar to 2022, though he also notes the possibility of a rapid rebound and a double-bottom formation in this cycle. He described the market as highly unstable and identified the $64,000 area as a risk zone; a break there could prompt a quick retest of $60,000. He adds that there remains some rebound potential, calling the $60,000 level the most important support in this cycle. If Bitcoin makes a rapid V-shaped rebound from $60,000, it could form a double bottom and lay the foundation for a strong rally.
The fear–greed index sits at 5, signaling extreme fear and suggesting further volatility rather than an immediate rally. The domestic Kimchi premium stands at 2.03% in positive territory, indicating steady local demand but not enough to reverse the global downtrend.
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