Trump’s Tariff Tremors Hit Crypto: Bitcoin Price Slides Under $66K, Altcoins Face Heavy Profit Booking
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Bitcoin Prices Today Tumbled below the $65000 mark despite the bulls holding the $67,000 level throughout the weekend. The cryptocurrency market is trading under massive pressure, with most major tokens in the red due to US tariff hikes announced by President Trump.
The fresh set of tariffs after the US Supreme Court invalidated the previous set of tariffs led to a risk-off sentiment across markets. Bitcoin has dropped around 5% in recent sessions, extending a year-to-date decline of over 20%. The global market cap also plunged below $2.24 trillion, while the market sentiments remain in extreme fear.
Bitcoin Price hovers near the $66,000 mark
Continuing its decline, Bitcoin was trading at $65,995.59. The token is down 2.96% over the past 24 hours and has slipped 4.22% over the past seven days. On a 30-day basis, Bitcoin has corrected sharply by 25.98%.
“According to Glassnode, whales increased their total balance by roughly 230,000 BTC over three months, valued at $15.59 billion. For now, BTC might test the $60,000 levels before a rebound. Immediate resistance stands at $68,500.” said Akshat Siddhant, Lead quant analyst at Mudrex.
Despite the decline, Bitcoin’s market capitalisation is standing at $1.32 trillion.
“With the monthly close on the horizon, Bitcoin may break its 7-year streak by ending the trade on a bearish note. On the other hand, Ethereum is also experiencing 3rd worst Q1s ever, with 5 weeks remaining. According to the on-chain data, large BTC whales have been dominating the exchange inflows, which have reached 64%, which never happened in the past 11 years.” as per CoinDCX Research
Ethereum Price Slips and falls over 4%
Ethereum price today stood at $1,887.48, down 4.48% in the last 24 hours. Over the past week, ETH has declined 5.58%, while the 30-day fall stands at a steep 36.04%.
Among other major tokens, XRP was down 3.02% at $1.38, while BNB slipped 3.60% to $599.95. Solana (SOL) emerged as one of the biggest losers among the top 10 cryptocurrencies, falling 6.59% in 24 hours to $79.65. On a monthly basis, Solana has tumbled 37.35%, due to heavy profit booking.
Dogecoin (DOGE) also traded lower at $0.09535, down 2.13% over the past 24 hours and 23.27% over the past month. Bitcoin Cash (BCH) fell 6.32% to $544.16, extending its short-term weakness.
Market cap and sentiment
The overall tone across the crypto market is now very cautious. With Bitcoin down nearly 26% in the past month and Ethereum off over 36% in the same period, traders are closely watching whether fresh institutional buying emerges at lower levels.
“Despite the near term pressure, the broader structure of the crypto market remains intact. Periods like these typically flush out leveraged positions and speculative excess, creating a healthier base for the next phase of growth. Bitcoin continues to behave as a macro sensitive asset in the short run, but its long term adoption drivers such as institutional participation and ecosystem expansion remain firmly in place.” said Avinash Shekhar, Co-Founder and CEO, Pi42
“Investors should avoid reacting impulsively to headline driven swings. A disciplined approach such as staggered accumulation, maintaining adequate liquidity, and focusing on fundamentally strong assets can help navigate the current phase. Those with a long term horizon may view corrections as opportunities to build exposure gradually rather than attempting to time short term moves.” he further added.
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