Bitcoin dropped below the $65,000 level during Asian trading on Monday, as continued selling by large holders and rising uncertainty over U.S. trade policy weighed on investor sentiment. Risk appetite remained fragile, putting additional pressure on the broader cryptocurrency market.
The world’s largest cryptocurrency declined about 4% to $65,296.8 as of 01:30 ET (06:30 GMT), after touching an intraday low of $64,384.2 over the past 24 hours. Bitcoin is now approaching levels seen in early February, when it briefly fell below $60,000.
Bitcoin pressured by whale selling and weak crypto sentiment
On-chain data from CryptoQuant showed a noticeable increase in Bitcoin transfers from large private wallets—commonly referred to as “whales”—to major cryptocurrency exchanges. Such movements are often interpreted as a signal that holders are preparing to sell.
Whales, which include early adopters, institutional investors and crypto-focused funds, can significantly influence short-term price action. When substantial amounts of Bitcoin move onto exchanges, it typically increases available supply and adds downward pressure on prices.
At the same time, buying activity across major crypto exchanges appeared limited. Market sentiment remains cautious after steep losses in recent months, leaving Bitcoin and other digital assets vulnerable to further declines.
U.S. trade policy uncertainty adds to market pressure
Renewed volatility in U.S. trade policy also contributed to the risk-off mood. Last week, the U.S. Supreme Court struck down a large portion of President Donald Trump’s trade tariffs, ruling that he exceeded his authority in imposing duties on key trading partners.
President Donald Trump then announced a new 10% global tariff on imports for 150 days, later raising the rate to 15%, the maximum permitted under the relevant statute. The move unsettled global financial markets and intensified concerns over trade tensions.
Higher trade barriers could slow global economic growth and tighten liquidity conditions, both of which tend to weigh on risk-sensitive assets such as cryptocurrencies. Asian equities and other growth-linked markets were under pressure as a result.
Ether and altcoins decline as founder sales raise concerns
Ethereum also faced renewed selling pressure. Ether fell nearly 5% to $1,878.63, moving closer to its early-February lows. Concerns intensified after Ethereum co-founder Vitalik Buterin was reported to have sold at least 1,694 Ether, worth around $3.3 million, over the weekend.
Although the transaction represents a relatively small portion of his total holdings, it fueled speculation about further whale-related selling in the second-largest cryptocurrency by market capitalization.
Other major altcoins recorded notable losses. XRP, Solana, Cardano and BNB declined between 3% and 8%. In the memecoin segment, Dogecoin fell 2.9%, while the $TRUMP token lost 3.4%.
U.S. economic data clouds Federal Reserve outlook
Additional pressure came from recent U.S. economic data. Gross domestic product expanded at an annualized rate of 1.4% in the fourth quarter, signaling slower growth. Meanwhile, the personal consumption expenditures price index remained elevated at 2.9% year-on-year.
The combination of cooling economic growth and persistent inflation has complicated expectations for Federal Reserve rate cuts. As a result, markets have scaled back hopes for near-term monetary easing, further dampening sentiment across cryptocurrency markets.
