Bitcoin (BTC) price hit by swift Asia-hours selloff, stages partial recovery

Bitcoin experienced a volatile session during Asia hours, dropping over 5% to $64,270 before recovering to $66,300. This movement mirrored a similar pattern in S&P 500 futures. The selloff was triggered by President Trump’s announcement of new 15% global tariffs and escalating U.S.-Iran tensions, driving investors towards safe-haven assets like gold, which reached a January 30 high. Altcoins like SOL and SUI also saw significant declines, resulting in $270 million in liquidations, though some losses were later recovered. Despite the volatility, demand for leveraged products remains low, and traders are increasingly favoring futures linked to traditional assets like gold. Bitcoin’s implied volatility index has risen, indicating renewed market jitters and increased buying of put options.

(Source：CoinDesk)