Bitcoin Tumbles Below $65,000 as Trump Tariffs Bite

Bitcoin prices plummeted below $65,000 on news of new tariffs imposed by the Trump administration. The tariffs range from 10% to 12.5% and affect imports from 60 major trading partners, covering over 99% of U.S. trade.

The added uncertainty has led to increased crypto liquidations, especially among leveraged long traders, with total liquidations reaching about $162 million.

This is not the only market pressure Bitcoin faces, as strong U.S. jobless claims data and rising Treasury yields also weigh on prices.