Bitcoin Drops to $65K as Tax Fears Shake Markets: Why Macro Headlines Are Suddenly Important Again
The decision of the US Supreme Court on Friday, 20 February 2026, overturned Donald Trump’s tariffs, which made the US President to threaten international tariffs of 10%-15% on all goods entering the US.
Markets have reacted badly to this confusion.
Bitcoin slipped in early trading on Monday, falling to $64,300. This is BTC’s lowest price point since February 6, 2026. The sudden 4.8% drop comes as fears over US tax policies roil global markets, erasing earlier gains.
While US stock futures saw mixed results, crypto markets took a hit, with Ethereum falling more than 5%. Uncertainty has hit the traditional economy, and it is spreading to crypto.
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All Eyes on the Fed
CONTINUATION:
It was credited with injecting $14,685,000,000 into the economy this week. pic.twitter.com/jGPBsnmh0m
– Ash Crypto (@AshCrypto) February 23, 2026
With new taxes, costs may rise, and inflation often follows. This makes the job of the Federal Reserve difficult. They may hesitate to lower interest rates if they worry that rates will rise again. As we saw when Solana fell on Fed signals, crypto markets generally don’t like high interest rates because they make safe investments (like bonds) look more attractive compared to “risky assets” like Bitcoin.
Phemex’s analysis suggests that Bitcoin is showing resilience, with each tax-related topic causing smaller price swings than before. However, the price is currently testing fragile territory. Is a dip to $60,000 possible if panic sets in? This is consistent with similar patterns we have seen where local political tensions challenge core levels of support.
While investors hate uncertainty, the back-and-forth on trade deals creates a “wait-and-see” environment where major players move to cash rather than bet on growth.
Despite the Supreme Court’s decision against Trump’s sweeping tariffs, he vows to impose 10-15% global tariffs using new legal mechanisms.
Markets react, Bitcoin drops below $66K, gold rises past $5,100 amid demand for safe haven.#TrumpTariffs #BTC #Gold # Markets #Trade pic.twitter.com/QOL2qRn90m— Prince Chinedu (@1spricechinedu) February 23, 2026
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Key Takeaways
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Bitcoin’s sudden 4.8% drop comes as fears over US tax policies roil global markets, erasing earlier gains.
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With new taxes, costs may rise, and inflation often follows. This makes the job of the Federal Reserve difficult.
The post Bitcoin Drops to $65K as Tax Fears Rock Markets: Why Macro Headlines Suddenly Matter Again appeared first on 99Bitcoins.
