On Monday, the value of the leading cryptocurrency showed a sharp decline, reaching its lowest level since early February. The fall in digital assets was triggered by general macroeconomic uncertainty and conflicting statements from official Washington regarding the status of international trade agreements after the US Supreme Court's decision. This is reported by Bloomberg, writes UNN.
Details
Bitcoin lost about 4.8% of its value, falling to $64,300, which effectively nullified all gains recorded after the November US elections. Ether showed even worse dynamics, retreating by 5.2%, and the total capitalization of the crypto market decreased by more than $2 trillion.
Bitcoin stabilized above $70,000 after sharp price fluctuations09.02.26, 06:44
Traders are concerned that the optimism about the "crypto-friendly" policy of the Trump administration, which previously raised the asset's price to a record $126,000, is now completely negated by protectionist measures and the risks of a global trade war.
The crypto market remains volatile, with market participants expecting support at the $60,000 level. Macroeconomic uncertainty is now weighing on the market, from geopolitical tensions over Iran to a sharp increase in US tariffs.
Impact of court decisions on digital assets
The sell-off was triggered by comments from US officials that existing trade agreements remain in force, despite the court's limitation of President Trump's emergency powers.
This created an additional layer of legal uncertainty, which, combined with geopolitical tensions, is forcing investors to exit risky assets. Analysts predict that in the near future, the market may again test the psychological threshold of $60,000 if the US administration does not provide clear explanations regarding further steps in the customs sphere.