Bitcoin’s price fluctuated before stabilizing as President Donald Trump escalated his tariff threats. The cryptocurrency is now trading slightly above $65,000 on Monday, having fallen below that level on Sunday evening for the first time in roughly two weeks. These recent price swings followed a Supreme Court decision that declared the majority of the White House’s tariffs unconstitutional, prompting President Trump to reinforce his position and promise a new round of tariffs soon after.
“Selling pressure remains significant and palpable, making the asset extremely reactive to news, and the recent instability concerning tariffs has further dampened risk appetite,” Gracy Chen, CEO of Bitget, stated in a note to .
This most recent decline further demonstrates Bitcoin’s susceptibility to volatility during periods of macroeconomic instability, mirroring the traditional stock market, as evidenced by the S&P 500’s approximate 1% drop on Monday.
Reacting to the Supreme Court ruling, which overturned tariffs the president had enacted under the International Emergency Economic Powers Act (IEEPA), Trump first declared a 10% tariff on all nations before raising it to 15% over the weekend. He stated on Monday that “any country that wants to play games with the ridiculous Supreme Court decision…will be met with a much higher tariff.”
This is not the first instance of Trump’s tariff rhetoric triggering a cryptocurrency slump. In October, following the president’s aggressive comments aimed at China, digital asset traders experienced significant losses in their positions—though the exact portion of those losses directly attributable to the tariff news is still unclear. More broadly, Bitcoin has declined approximately 48% from its all-time peak of $126,000 reached in October.
Other major cryptocurrencies have also declined. Ethereum has fallen 35% over the past three months to $1,893, and Solana is down about 42% to approximately $79.
Given cryptocurrency’s growing integration with traditional finance, Chen anticipates a recovery is forthcoming, though the exact timing is unclear. “Bitcoin and the wider crypto market already function as a foundational layer of the financial system, so we consider a rebound to be unavoidable. The sole uncertainty is when it will happen, and currently, there are no clear indicators,” she said.