Bitcoin can go on top as traders react to Trump’s tariff plans and regulatory delays.
According to a report by the Singapore -based blockchain firm Matrixport, the institutional trade in bitcoin (BTC) price moves is playing a major role, with the growth of the effect of Wall Street. Bitcoin’s market dominance remains at 60%, making it a major benchmark for crypto traders, analysts noted One x post On 26 February.
Nevertheless, concerns over the delay of six months in Trump’s proposed tariff and bitcoin strategic reserve consultation may contribute to “technical topping formation”, called matrixports. On the technical side, according to analysts, the price of bitcoin may fall to its next support level at $ 73,000.
As the press time, Bitcoin is trading at $ 88,290. As Crypto.news had previously reported, BTC briefly fell to $ 86,099, eliminated $ 1.06 billion in the Crypto market. With a decrease of $ 873 million, the longest position took the biggest hit.
Data of coinglass shows that more than 220,000 traders have declined prices, while 5%slipped into open interest, suggesting that traders are pulling back. Exchange inflows also increased by 14.2%, possibly a sign of panic selling.
Spot bitcoin exchange-traded funds also saw large outflows, including $ 1.1 billion in five days, only $ 516 million on 24 February. Crypto Stock followed the slide – the coinbase (coin) fell 6.4%, Robinhood (hood) fell 8%, and bitcoin minors bitDier (BTDR) and marathon digital (Mara) lost 29%and 9%respectively.
