Bitcoin experienced renewed selling pressure as its price fell below $106,000, signaling a cautious sentiment among investors in the face of global economic and political uncertainty. At last check, Bitcoin was trading at $105,857 after briefly touching an intraday low of $104,684, according to data from Investing.com.
This drop comes amid ongoing concerns about the potential reintroduction of tariffs by former President Donald Trump if he returns to office. Recent court decisions have blocked most of his proposed tariff increases, but analysts warn he could still find legal pathways to reintroduce them. The market has reacted with caution, as trade policy instability has historically contributed to financial market volatility.
In response to the uncertainty, many traders appear to be locking in profits after Bitcoin’s recent rally, triggering a broader sell-off across the cryptocurrency sector. According to CoinMarketCap, the global crypto market cap dropped by 2.12%, falling to $3.34 trillion. Ethereum and other leading altcoins also saw modest declines as investors shifted to a risk-off stance.
Analysts believe that Bitcoin remains fundamentally strong in the long term, but in the short term, macroeconomic developments—including interest rate decisions, inflation expectations, and trade policies—are likely to dominate market sentiment.
