Tariff Storm Triggers Bitcoin Crash

Today, Bitcoin briefly dropped below the $65,000 mark, with a low of $64,232. There are two main reasons:

First, a major change in tariff policies. Trump increased global tariffs from 10% to 15%, and following the U.S. Supreme Court ruling that tariff policies were illegal, policy chaos intensified, increasing global trade uncertainty. XS.com analyst Linh Tran pointed out that policy uncertainty triggered risk aversion, leading investors to move into cash and bonds, resulting in a sell-off of risk assets.

Second, leverage liquidations and margin calls. After breaking below the key support level of $65,000, over 130,000 traders were liquidated across the network, with approximately $230 million in Bitcoin long positions liquidated. Mining company Bitdeer has cleared its Bitcoin reserves, increasing liquidity pressure. Orbit Markets warned that if the $60,000 support level is lost, the decline could further accelerate.