Bitcoin Faces Tariff Uncertainty: $100 Billion Wiped from Crypto Market

Sharp Sell-off Wave in the Crypto Market The cryptocurrency market began the first trading day of the week under the shadow of increasing uncertainties regarding U.S.
customs tariffs.
Bitcoin, the leading cryptocurrency, lost approximately 4.8% during the Asian session, falling to $64,300.
This level marks the lowest point recorded since February 6.
The selling pressure was not limited to Bitcoin; Ethereum, the second-largest cryptocurrency by market value, also experienced a 5.2% decline.
With this drop, approximately $100 billion was wiped from the total value of the cryptocurrency market.
Tariff Uncertainty and Macroeconomic Pressures At the core of the market's weak performance are statements from U.S.
officials regarding customs duties.
Although the U.S.
Supreme Court overturned President Donald Trump’s decision to implement tariffs under emergency powers, officials stated that agreements previously reached with trading partners remain valid.
This situation has caused continued uncertainty among investors.
Caroline Mauron, co-founder of Orbit Markets, stated that the market exhibits a fragile outlook and that investors are focusing on the critical support level of $60,000.
Mauron emphasized that geopolitical tensions originating from Iran and uncertainty in U.S.
tariff policies are creating pressure on the macroeconomic front.
Retreat from the Peak In October, Bitcoin had reached an all-time high of over $126,000 on expectations of a crypto-friendly administration.
However, with the losses experienced in recent months, all gains made following the November 2024 elections have been reversed.
The asset has lost approximately half of its value since its historic peak.
Analysts indicate that Bitcoin needs to rise above the $70,000 level for market sentiment to turn positive again.