Investors’ nerves and customs duties: why cryptocurrencies have fallen
23 February 17:06
The price of Bitcoin fell 4.8% overnight from February 22 to February 23, dropping to $64,300, its lowest level since February 6, 2026. This was reported by Bloomberg, according to "Komersant Ukrainian".
The second largest cryptocurrency by market capitalization, Ethereum, lost 5.2%.
However, by the morning, the market had partially recovered: Bitcoin rose to around $66,300.
Why did the market fall?
Analysts attribute the decline to US President Donald Trump’s plans to raise import duties for all countries from 10% to 15%.
After the announcement of these plans, the dollar weakened by 0.3%, and stock indices also fell:
- S&P 500 — by 0.5%
- Nasdaq-100 — by 0.7%
Thus, the reaction affected both traditional financial markets and the cryptocurrency sector.
Support level — $60,000
According to Orbit Markets co-founder Caroline Mauron, investors are closely watching the $60,000 level as a potential support zone for Bitcoin.
“There is macroeconomic uncertainty in the market — from tensions in Iran to sharp increases in US tariffs, which could lead to another test of this level,” Bloomberg quotes her as saying.
From record highs to correction
Back in October 2025, Bitcoin reached over $125,000. At that time, the market had high expectations for the Trump administration’s policy on cryptocurrency regulation.
The current decline represents an almost twofold drop from its peak, highlighting the volatility of digital assets during periods of political and trade instability.
Trade policy and global risks
The new tariffs were a response to a US Supreme Court ruling that had previously overturned the administration’s previous tariff initiatives.
At the same time, the European Union does not rule out that the ratification of a new trade agreement with the US may be suspended due to trade escalation.
