title: Bitcoin (BTC-USD) falls over 16% in February, marking cryptocurrency's worst monthly performance

Bitcoin (BTC-USD) fell over 16% in February, marking the cryptocurrency's worst monthly performance since June 2022.

Bitcoin fell sharply on Friday, wiping out earlier gains and trading lower for a fourth straight session as renewed trade war fears and macroeconomic uncertainty weighed on markets.

Bitcoin dropped as much as 5% to touch lows of $79,608.00. The cryptocurrency slid below the $80,000 mark for the first time this year.

The declines came a day after President Donald Trump said 25% tariffs on goods from Canada and Mexico, as well as an additional 10% tariff on Chinese imports, are set to go into effect March 4.

"The sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics," said Nic Puckrin, financial analyst and founder of the Coin Bureau, in an email to Yahoo Finance earlier this week.

"This was never the intention for Bitcoin - indeed, it was designed as an anti-political asset - but this is where we are right now.”

Bitcoin has rallied since the election of Donald Trump, soaring 44% from Election Day in November to a high of $109,115 on Jan. 19.

Investors have been optimistic about the president's crypto-friendly stances creating a looser regulatory environment for the industry than the prior administration. Trump has appointed venture capitalist David Sacks to a newly created White House role of crypto czar, and his pick for SEC chair is well-known crypto lawyer Paul Atkins.

But recent losses have partly erased those gains as the so-called Trump trade loses steam. Macroeconomic uncertainty and a $1.5 billion crypto exchange hack have contributed to the pullback among investors.

Puckrin said in his commentary on Feb. 25, "If worries over tariffs continue to escalate, bitcoin could continue falling further in the short term," adding, “A key support level to watch would then be $71,000."

If viewed on a monthly time frame, February's 16% decline was the worst monthly performance for bitcoin since June 2022, when the cryptocurrency lost 21% amid the collapse of the Terra ecosystem.

If viewed on a weekly time frame, bitcoin fell for a third week in a row. It was also the worst weekly performance since early December 2022.

Bitcoin fell over 16% in February, marking the cryptocurrency's worst monthly performance since June 2022.

If viewed on a monthly time frame, February's 16% decline was the worst monthly performance for bitcoin since June 2022, when the cryptocurrency lost 21% amid the collapse of the Terra ecosystem.

If viewed on a weekly time frame, bitcoin fell for a third week in a row. It was also the worst weekly performance since early December 2022.

Bitcoin dropped as much as 5% Friday and traded below $80,000 for the first time this year before paring losses. Even with the cryptocurrency's rebound to around the $84,000 level Friday afternoon, bitcoin stood at its lowest since early November.

Friday's decline came a day after President Donald Trump said 25% tariffs on goods from Canada and Mexico, as well as an additional 10% tariff on Chinese imports, are set to go into effect March 4.

"The sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics," said Nic Puckrin, financial analyst and founder of the Coin Bureau, in an email to Yahoo Finance earlier this week.

"This was never the intention for Bitcoin — indeed, it was designed as an anti-political asset — but this is where we are right now.”

Bitcoin has rallied since the election of Donald Trump, soaring 44% from Election Day in November to a high of $109,115 on Jan. 19.

Investors have been optimistic about the president's crypto-friendly stances creating a looser regulatory environment for the industry than the prior administration. Trump has appointed venture capitalist David Sacks to a newly created White House role of crypto czar, and his pick for SEC chair is well-known crypto lawyer Paul Atkins.

But recent losses have partly erased those gains as the so-called Trump trade loses steam. Macroeconomic uncertainty and a $1.5 billion crypto exchange hack have contributed to the pullback among investors.

Puckrin said in his commentary on Feb. 25, "If worries over tariffs continue to escalate, bitcoin could continue falling further in the short term," adding, “A key support level to watch would then be $71,000."

If viewed on a monthly time frame, February's 16% decline was the worst monthly performance for bitcoin since June 2022, when the cryptocurrency lost 21% amid the