Bitcoin Plunges to Lowest Price Since October 2024 on Tariff Uncertainty

Bitcoin plummeted to $62,802 on Tuesday, its lowest price since October 2024, and further extended losses of around 4% on the day.

The decline puts Bitcoin over 49% below its all-time high of $126,080 set in early October 2025, with six consecutive weekly red candles, a streak last seen in May 2022, according to Kraken's VP Matt Howells-Barby.

Analysts attribute the fall to macro pressures, including new U.S. tariffs imposing a 10% levy on all imported goods, which directly contradicts a Supreme Court ruling from the previous Friday declaring such international trade policies unlawful.

Jimmy Xue, COO and co-founder at crypto infrastructure firm Axis, calls this policy whiplash the central risk factor for markets this week. 'The policy whiplash between the U.S. Supreme Court's ruling against emergency tariff authorities and the administration's immediate pivot to Section 122 duties has created a high-stakes legal and economic standoff.'

Samer Hasn, senior market analyst at XS(dot)com, views Bitcoin as having moved out of consolidation and into a fresh bearish cycle, driven by a toxic mix of geopolitical tensions, tariff uncertainty, and tightening liquidity flushing capital out of the market.