Crypto bus keeps falling – is the accident going on, and what is there next?
Bitcoin (BTC) fell below $ 88,000 to mark its lowest level in three months. The comprehensive crypto market has also taken a hit, with the total market capitalization of 8%, which exceeds $ 3.31 trillion more than $ 3.09 trillion.
There is a sharp decline between macroeconomic uncertainty, regulatory concerns and transferrs’ spirit. Analysts have now warned that bitcoin may move forward, potentially Testing support At $ 70,000.
Despite this, Bitcoin has performed better than Crypto’s data, in the last 7 days in the last 7 days than other cryptocurrency such as XRP (XRP), AAV (AAVE), and others.
“Crypto destruction here is mainly outside bitcoins,” Said Mark Kadmore on Bloomberg TV. “Bitcoin is a relative outperformer.”
Many factors can contribute to the latest decline of bitcoin.
Crypto reacts to Trump’s tariff
US President Donald Trump seems to have an immediate trigger for the decline of bitcoin. Information about it With new tariffs on imports from Canada and Mexico, with 10% tariff on Chinese goods. Investors reacted negatively, fearing an increase in inflation and economic uncertainty, which pushed a risk -like property such as bitcoin lower.
Three weeks ago, Trump announced the tariff, which fell from $ 105,000 to $ 91,441 as the crypto market fell by about 10%. Trump’s confirmation of these tariffs is again intensifying the markets.
Correlation with traditional markets
The price movement of bitcoin has begun to reflect traditional financial markets. S&P 500 has fallen by 2.3% in the last five business days, while the Nasdaq Composite has fallen 4%.
Bitfinex’s 24 February Alpha Report Thrown light on The ban on US-China relations and semicondia exports, especially the ban on Nvidia chips, has contributed to the fall in investors.
Collapse
Historically, fast -price swings have defined the market cycles of bitcoin and crypto, but traders are now facing a period where the speed appears to be extinct.
“Recently there was a collapse in instability,” said Kadmore. “An initial warning indication was that the next major collapse in bitcoin was adjacent.”
The decline in instability has left some traders cautious, as the period of ups and downs often occur before a sharp breakout – either up or down. With the struggle to find the bitcoin direction, there is some fear that the current lulla may set the platform for a deep improvement.
