

Bitcoin is on the verge of recording its worst monthly performance since June 2022, the month of the cryptocurrency ecosystem crash. The digital asset, down 19 percent in February, is heading toward its fifth consecutive monthly decline, the longest losing streak since 2018. The main reason for the drop is the negative sentiment dominating global markets after Trump announced a plan to increase global tariffs, pushing investors toward traditional safe haven assets. Bitcoin is now close to breaking the key 60000 dollar support level.

Trump delivered a 100 minute speech. Trump focused almost entirely on the economy in his State of the Union address and tried to present a very positive picture of current conditions. He said inflation is declining sharply, incomes are rising quickly, and the US economy is booming more than ever. He also emphasized that tariffs on imports will continue and argued that these tariffs can replace tax revenues.