CNBC and Bloomberg contributed to this report.
Bitcoin took another hit Tuesday, tumbling more than 5% and slipping under $63,000 (it dipped to about $62,965) as traders pulled back from riskier bets amid rising tariff tensions and fresh geopolitical worries.
“This looks less like a crypto-specific shock and more like a classic risk-sentiment reset,” said Christopher Hamilton, describing the move as tactical de-risking rather than a wholesale exit from the market.
In short: investors are trimming exposure fast, not necessarily abandoning crypto forever.
The headlines piling up haven’t helped. Donald Trump warned he’d decide within days whether to strike Iran, and Washington has been beefing up forces across the Middle East — news flows that make traders less inclined to sit tight in high-beta assets like bitcoin.
Crypto’s selloff is part of a longer slump: bitcoin is down about 27% so far this year and roughly 50% from its October peak when it briefly topped $125,000. Ether and other tokens also fell — ether slid just over 1% — while spot gold eased roughly 1% as markets rebalanced.
“Bitcoin remains highly sensitive to global liquidity conditions,” said Billy Leung, noting that tighter perceived financial conditions from trade and geopolitical shocks hit crypto first.
For now, traders seem to be choosing safety over speculation — and crypto is paying the price.
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