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Bitcoin briefly fell below the $65,000 level during Asian trading on Monday, remaining under sustained pressure as large holders continued to offload cryptocurrencies, while renewed uncertainty over U.S. trade policy further dampened risk appetite.
The world’s largest cryptocurrency dropped around 4% to $65,296.8 by 01:30 ET (06:30 GMT), after touching an intraday low of $64,384.2 in the past 24 hours. The move brought Bitcoin back toward levels last seen in early February, when prices briefly dipped below $60,000.
The selloff extended across the broader digital asset market, with major altcoins also retreating. Ether came under particular pressure after reports that Ethereum co-founder Vitalik Buterin had sold additional portions of his holdings.
Whale Selling Intensifies Pressure on Bitcoin
On-chain data from CryptoQuant showed an uptick in Bitcoin transfers from large private wallets—commonly referred to as “whales”—to centralized exchanges, a development that typically signals impending sales.
Whales, which include early adopters, institutional investors, and crypto-focused funds, can exert significant influence on short-term price movements when they move large volumes of tokens onto exchanges. Such transfers increase immediately available supply and often amplify downward price pressure.
At the same time, there were few signs of strong dip-buying activity across major crypto trading platforms. Market sentiment has remained fragile after steep price declines over recent months, leaving the sector vulnerable to further selling.
U.S. Trade Policy Adds to Risk Aversion
Renewed turbulence in U.S. trade policy compounded negative sentiment. Last week, the U.S. Supreme Court struck down a large portion of President Donald Trump’s trade tariffs, ruling that the president had exceeded his authority in imposing levies on major trading partners.
In response, Trump announced a new global tariff regime, initially setting a 10% levy on imports for 150 days before raising it to 15%, the maximum allowed under the relevant statute. The abrupt policy shift unsettled financial markets and weighed on equities and other risk-sensitive assets during Asian trading.
Investors are increasingly concerned that higher trade barriers could slow global economic growth and tighten liquidity conditions—an environment that typically proves unfavorable for speculative assets such as cryptocurrencies.
Altcoins Slide as Ether Founder Sales Raise Concerns
Losses across the crypto market were broad-based. Ether fell nearly 5% to $1,878.63, returning toward early-February lows. The decline followed reports that Buterin sold at least 1,694 Ether, worth roughly $3.3 million, over the weekend.
While the sale represents only a small fraction of his total holdings, it reignited fears of further whale-driven selling pressure in the world’s second-largest cryptocurrency.
Other major tokens also retreated sharply, with XRP, Solana, Cardano, and BNB falling between 3% and 8%. Meme coins were not spared, as Dogecoin dropped 2.9% and the $TRUMP token slid 3.4%.
Macro Data Clouds Rate-Cut Outlook
Adding to the cautious tone, U.S. economic data released on Friday painted a mixed macroeconomic picture. Gross domestic product expanded at an annualized rate of 1.4% in the fourth quarter, highlighting a slowdown in growth, while the Personal Consumption Expenditures price index—the Federal Reserve’s preferred inflation gauge—remained elevated at 2.9% year on year.
The combination of sticky inflation and cooling growth has complicated expectations for U.S. interest rate cuts, tempering hopes for near-term monetary easing and further undermining sentiment toward high-risk assets such as cryptocurrencies.
