Bitcoin tumbled in early Asia trading Monday amid renewed jitters over U.S. tariff policy, falling as much as 4.8% to about $64,300—its lowest since Feb. 6.
- The losses come after US officials on Sunday said trade deals already negotiated with international partners remain in place, despite a Supreme Court ruling that struck down
- The dollar and US stock futures dropped in early trading on Monday, with contracts for the S&P 500 down 0.8% and the Nasdaq 100 down 1%.
- Bitcoin was trading at about $66,360 at 12pm EST, showing a partial recovery from the session low but still below recent levels.
Tariff Policy Developments Drive Immediate Bitcoin Price Reaction
The sequence of events unfolded rapidly over the weekend. On Sunday, US officials issued a statement clarifying that existing negotiated trade deals would continue unchanged even after the Supreme Court’s decision limiting the use of emergency powers for tariffs. The ruling directly challenged aspects of the tariff implementation approach taken by the Trump administration.
Monday’s trading session opened with downward pressure on Bitcoin. The 4.8% drop took Bitcoin to around $64,300, its lowest point since early February. Trading activity in Asia set the tone for the session, with the price moves occurring before major US markets opened.
At the same time, traditional markets reflected similar caution. Declines in US equity futures and the dollar indicated that the tariff-related developments were transmitting into asset prices. The contrasting 1% gain in a key Asian equities gauge highlighted regional differences in investor responses during the early hours of trading.
Bitcoin Fully Reverses Post-Election Gains
The latest price moves also mean that Bitcoin wiped out the remaining gains it had seen since Trump won re-election in November 2024. Hopes around Trump’s more crypto-friendly second administration sent Bitcoin to a record price above $126,000 last October, just before a massive selloff that has left the asset reeling ever since. The broader crypto market has seen over $2 trillion in value wiped out.
The reversal has been particularly stark. The record high reached in October came amid expectations of regulatory improvements and greater institutional adoption under the new administration. Those gains have now been completely erased, returning Bitcoin to price levels last seen months earlier.
In a separate notable development, Binance spot trading volumes have declined by 95% since the Trump inauguration, according to 10x Research. The sharp reduction in trading activity points to a substantial contraction in market participation on one of the world’s largest trading platforms.
Meanwhile, the dozen US-listed spot Bitcoin ETFs recorded their fifth consecutive week of net outflows—the longest streak since February last year, with investors pulling $3.8 billion in that time. This sustained withdrawal of capital from regulated investment vehicles reflects ongoing caution among participants.
In the last 24 hours alone, the crypto market shed another $100 billion in value, according to CoinGecko. The figure adds to the cumulative losses accumulated since the October peak and illustrates the speed at which value can evaporate during periods of policy-driven uncertainty.
Future Developments Likely to Hinge on Trade Policy Clarity
The Bitcoin market continues to respond to shifts in US trade policy. The combination of the Supreme Court ruling, the administration’s clarification on existing deals, and President Trump’s tariff increase announcement has created a period of elevated volatility.
As US trade policy evolves in response to the Supreme Court decision and related statements, participants across markets are expected to track further official communications. With Bitcoin now trading slightly above $66,000 after the early-session low, attention turns to how forthcoming policy details and market reactions may shape its trajectory in the coming days and weeks. Continued monitoring of spot fund flows, exchange volumes, and official statements will provide key signals on whether the current pressure eases or intensifies.
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