Tariff travails resurface, bitcoin holders prepare for declines: Crypto Daybook Americas

CoinDesk

by Omkar Godbole

February 23, 2026

AI-Generated Deep Dive Summary

The cryptocurrency markets are facing fresh headwinds as tariff-related uncertainties resurface, prompting Bitcoin holders to seek protection against potential price declines. On Friday, the U.S. Supreme Court invalidated President Trump’s emergency tariffs from April 2021, leading Trump to impose new tariffs under a law allowing up to 15% import levies for 150 days. This move has reignited trade tensions, creating a challenging environment for risk assets like Bitcoin. In response, Bitcoin traders have been actively purchasing put options—contracts that allow the holder to sell Bitcoin at a set price—to hedge against potential price drops. The increased open interest in put options with strike prices of $58,000, $60,000, and $62,000 on Deribit highlights a clear shift toward defensive positioning. Bitcoin’s price has reflected this cautious sentiment, dropping to $64,481 early Monday after fluctuating around $66,000 over the weekend. Reports of a large “whale” moving significant Bitcoin holdings to an exchange for potential sale further pressured prices. Despite this, Bitcoin rebounded above $66,000 as traders assessed the situation. Ethereum (ETH), meanwhile, also faced selling pressure, with data showing faster sales by co-founder Vitalik Buterin. ETH’s price dipped to around $1,856 in Asian trading but has since stabilized. The broader market is bracing for potential volatility this week, with trade tensions and macroeconomic factors dominating sentiment. Analysts are closely monitoring institutional outflows from spot Bitcoin ETFs, which have been a key indicator of market health. If these outflows flatten, it could signal the end of significant institutional selling. However, continued contraction would reinforce the defensive tone in the market, suggesting thin conviction among traders. In traditional markets, Goldman Sachs raised its oil price forecasts, citing lower OECD stockpiles and concerns about a potential U.S.-Iran conflict. A sharp rise in oil prices could exacerbate inflationary pressures and weigh further on risk assets. This macroeconomic backdrop adds

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Originally published on CoinDesk on 2/23/2026