Core Viewpoint - Bitcoin experienced a significant drop of 4.8%, reaching nearly $64,300, marking its lowest level since February 6. Other cryptocurrencies, such as Ethereum, also saw declines, with a 5.2% drop [1][2]. Market Reaction - The decline in Bitcoin's price is attributed to renewed uncertainty surrounding U.S. tariffs, following the U.S. Supreme Court's decision to overturn President Trump's emergency powers related to tariffs. However, trade agreements with partners remain effective according to U.S. Trade Representative officials [1][2]. - President Trump announced a global tariff of 10% on foreign goods, which was later increased to 15% within a day, contributing to market tension [1][2]. Analyst Insights - Caroline Mauron, co-founder of Orbit Markets, indicated that the cryptocurrency market remains fragile, with participants hoping for a support level at $60,000. Geopolitical tensions and fluctuating U.S. tariff policies are exerting pressure on the market, potentially leading Bitcoin to challenge this support level again [1][2]. - Rachael Lucas, an analyst at BTC Markets, identified $65,000 as a critical support level for Bitcoin. She noted that if this level is breached, the price could drop to $60,000. Conversely, for a bullish narrative to emerge, the price would need to rise to $70,000 [1][2].