Bitcoin Slides 3% as Trump Unveils 15% Global Tariff
Major cryptocurrency prices fell sharply on Monday after President Donald Trump announced on Saturday a plan to raise the global tariff rate to 15%. The move, representing a five percent increase, relies on the 1974 Trade Act's Section 122, which allows for a temporary 150-day duty. This temporary nature injects significant uncertainty into global trade policy, prompting a flight from riskier assets.
In direct response, Bitcoin's price dropped 3% over 24 hours to $65,805, briefly dipping below the $65,000 mark. Other major digital assets followed, with Ethereum retreating 4.5% and XRP falling 3.3%. The new tariff plan, which replaces duties ruled illegal by the Supreme Court on February 20, is facing skepticism.
This leaves a substantial amount of uncertainty. Section 122 was designed as a temporary tool to address emergency balance of payments issues and would likely face further legal challenges if rolled over repeatedly.
— Jim Reid, Strategist at Deutsche Bank.
Bitcoin Sheds 25% in 2026, Diverging from Safe Havens
This latest price drop extends a difficult year for the leading cryptocurrency, which has tumbled 25% since the start of 2026. The consistent decline highlights investor sensitivity to macroeconomic and geopolitical instability. Continued market uncertainty has systematically weighed on digital asset valuations throughout the year.
As cryptocurrencies sold off, traditional safe-haven assets performed strongly. Continuous gold futures climbed 1.6% early Monday, showing a clear divergence in investor behavior. This trend directly challenges Bitcoin's long-held moniker as 'digital gold,' as investors appear to prefer the precious metal over its digital counterpart during periods of economic stress.
