Bitcoin sank further Tuesday, trading around $62,907, down 5.02% from Monday’s close, as investors continued rotating out of riskier assets amid fresh uncertainty over President Donald Trump’s tariff push and rising concerns about a potential U.S.-Iran conflict, CNBC reports.
The drop follows a shaky start to the week. On Monday, bitcoin briefly slipped below $64,000, mirroring broader market unease as trade-policy volatility and geopolitical headlines rattled risk appetite.
On the geopolitical front, Trump said he would decide within roughly 10 to 15 days whether to keep pursuing diplomacy with Iran or order a military strike — comments that have intensified worries about a wider regional flare-up and its impact on global markets.
At the same time, markets are grappling with more whiplash on tariffs.
After the Supreme Court struck down an earlier set of sweeping trade taxes, Trump moved to impose new broad tariffs—reviving concerns about inflation, growth, and global trade disruption that tend to hit speculative assets first.
The result: bitcoin, often treated like a high-volatility “risk-on” bet, is getting sold as investors seek traditional havens.
Gold has held up far better than crypto during bouts of policy and geopolitical stress, reinforcing the market’s tendency to treat bitcoin less like “digital gold” and more like a levered sentiment trade.