KUALA LUMPUR, Feb 23 (Bernama) -- Bursa Malaysia ended the first trading day of the week higher, maintaining its momentum from last week amid improving investor sentiment following the latest United States tariff announcements. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.15 points, or 0.29 per cent, to 1,757.98, compared with Friday’s close of 1,752.83. The benchmark index had opened 4.14 points higher at 1,756.97, and moved between 1,752.48 and 1,760.03 throughout the trading session. The broader market was positive, with gainers outpacing losers 584 to 520, while 537 counters remained unchanged. A total of 1,139 counters remained untraded and 24 were suspended. Turnover widened to 2.47 billion units worth RM2.65 billion compared to 2.03 billion units worth RM2.20 billion last Friday.
Bitcoin slid sharply in early Asian trading as renewed uncertainty over US tariffs rattled risk assets.
The world’s largest cryptocurrency fell as much as 4.8% to around US$64,300, its lowest level since Feb 6, before stabilising near US$64,800.
Meanwhile:
Ethereum dropped about 5.2%
The broader crypto market shed US$100 billion in 24 hours
Total market value has erased over US$2 trillion since last year’s peak
Tariff Whiplash Sparks Risk-Off Mood
The selloff follows renewed trade-policy turbulence after the Supreme Court of the United States struck down emergency tariffs imposed by President Donald Trump.
Trump responded by:
Announcing a new 10% global tariff
Then raising it to 15%
The uncertainty has:
Weighed on the US dollar
Pressured US stock futures
Increased macro volatility
Crypto, often treated as a high-beta risk asset, reacted negatively.
Key Technical Level: US$60,000
Analysts note that:
US$65,000 was a key short-term support level
Downside protection in derivatives markets clusters around US$60,000
If Bitcoin decisively breaks below US$60,000:
Further forced liquidations could accelerate declines
Sentiment may deteriorate quickly
From Euphoria to Fragility
Bitcoin previously surged above US$126,000 last October on optimism about a crypto-friendly second Trump administration.
However:
Gains since the 2024 re-election have now been erased
Smaller tokens have been hit even harder
Macro uncertainty (tariffs, geopolitical risks, inflation) is overshadowing policy hopes
Why Crypto Is Vulnerable
Current headwinds include:
US tariff unpredictability
US-Iran geopolitical tensions
Higher-for-longer rate concerns
Risk-off sentiment across global markets
Unlike gold, crypto is not behaving as a safe haven — it’s trading more like a speculative growth asset.
Market Takeaway
The crypto market remains fragile and highly sensitive to macro headlines.
Key levels to watch:
US$65,000 (lost)
US$60,000 (critical support)
If tariff uncertainty persists and risk appetite weakens further,
another test of US$60,000 appears increasingly likely.
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