Sharp decline in the cryptocurrency market: Bitcoin falls below $65,000

Cryptocurrency markets have been shaken by new trade measures announced in the United States and global uncertainty. Bitcoin fell below the $65,000 level on Sunday, unsettling investors. This decline accelerated after US President Donald Trump announced that he would increase the global tariff from 10 percent to 15 percent following the US Supreme Court's recent ruling on reciprocal customs duties.

This move by Trump has raised concerns that existing agreements between the US and its trading partners could be jeopardized. Senior officials from the US government have attempted to provide assurances that there will be no changes to existing trade agreements. However, markets remain cautious despite these statements.

Furthermore, the increased possibility of a US military operation against Iran, following the deadlock in nuclear negotiations held in Geneva last week, has significantly reduced risk appetite in the markets. Although Bitcoin and cryptocurrencies are often viewed as a "safe haven" during periods of such economic and geopolitical uncertainty, they have failed to perform this function in recent days and have lagged behind other asset classes.

Bitcoin is currently trading at the $64,700 level. The total value of the entire cryptocurrency market has fallen to $2 trillion 230 billion.

News Source: 12punto