Bitcoin fell on Monday, slipping under $65,000 as large holders continued to sell, while investor concerns over U.S. trade policy added to risk aversion.
The largest cryptocurrency dropped 4.5% to $64,569.4 as of 16:34 ET (21:34 GMT), briefly touching $63,939 in the last 24 hours—levels near early February lows when Bitcoin dipped below $60,000.
Other cryptocurrencies also declined, with Ether under pressure following more sales by founder Vitalik Buterin.
Whale Activity Drives Selling Pressure
On-chain data from CryptoQuant indicated that significant amounts of Bitcoin moved from large private wallets—known as "whales"—to mainstream exchanges, signaling potential additional sales.
This selling coincided with U.S. trade policy uncertainty. President Donald Trump recently imposed a 10% global import tariff for 150 days, later raised to 15%, unsettling markets and weighing on risk-sensitive assets, including cryptocurrencies.
Strategy Increases Bitcoin Holdings
Strategy (NASDAQ: MSTR), the largest publicly traded Bitcoin holder, bought 592 BTC last week for $39.8 million, at an average price of $67,286 per coin. Funded entirely through stock sales, Strategy’s total holdings now stand at 717,722 BTC, acquired at an average of $76,020 per coin.
Altcoins Slide Amid Founder Sales and Market Pressure
Ether fell to $1,838.69 before slightly recovering to $1,864.15, following Buterin’s sale of at least 1,694 ETH (~$3.3 million). While a small portion of his holdings, the sale renewed fears of additional whale-driven pressure.
Other altcoins also declined: XRP -2%, Cardano -2.6%, BNB -2.9%, Solana -6.1%, Dogecoin -2.6%, and $TRUMP -2%.
Economic Data Adds to Caution
U.S. GDP expanded at a 1.4% annualized pace in Q4, signaling slower growth, while the personal consumption expenditures price index remained elevated at 2.9% YoY. Persistent inflation and slower growth have tempered expectations of Federal Reserve rate cuts, limiting relief for risk assets.
Overall, Bitcoin’s recent decline is driven by large holders selling, limited buying activity, and ongoing uncertainty around trade policy and economic growth, keeping crypto sentiment under pressure.
