Bitcoin Price Dips Below $64K Amid ETF Investor Exodus and Trump Tariff Threat
Bitcoin's mid-week price rally came to an end today as it dipped below $64,000. The asset had reached a monthly peak of $67,000 but lost its momentum after investors pulled out of spot exchange-traded funds (ETFs) tracking the largest cryptocurrency.
According to recent data, BlackRock has continued to dispose of BTC for its clients, sending approximately $203 million to Coinbase Prime. This trend shift coincided with the asset's initial retracement that drove it toward $65,000.
Additionally, President Donald Trump threatened new tariffs on the European Union (EU), warning them of 'illegitimate and highly unethical conduct.' The EU has imposed substantial penalties on US companies such as Apple, Meta, and Google. This tariff threat is reminiscent of last April when Bitcoin tanked due to similar threats.
While the actual damage for the entire day remains uncertain until tomorrow's data update, it appears that these two factors combined to cause a decline in Bitcoin's price.