Key points:-
- Bitcoin fought as market opinion worsened between Trump’s tariffs and economic uncertainty.
- Deleting billions of cryptographic markets through Bybit Hack Attack, intensifies panic between the market.
- Current market condition for Bitcoin.
Donald Trump continues the War Tarifa
After Donald Trump’s fee announcement about Canada and Mexico, the cryptography market has begun its downward trajectory. After a brief recovery of the turbulence caused by Donald Trump’s tariff announcement.
During his first Cabinet meeting Donald Trump announced to impose a 25 percent tariff on the European Union. On February 26, speaking at the first cabinet meeting, Trump said: “We have made a decision and we will announce it very soon. It will be 25 percent in general terms and that will be in cars and all other things.”
According to the latest Coinmarketcap data, global cryptography market capitalization has decreased by 3.61 percent in the last 24 hours, establishing $ 2.83 billion. Third consecutive losses, Bitcoin is quoted at $ 86,112.34 after a 3.01%drop. Bitcoin touched its lowest price for a short time at $ 82,256 since November 11, 2024. However, market data indicates that additional corrections can be on the horizon before stability returns.
Bitcoin analysis: What does the graph say?
When commenting on the same, the independent analyst of the market, Scott Melker, published the picture on the Social Network Platform X and said: “Alcista divergence with oversized RSI still very at stake. At the moment, RSI is still doing a bass. We need to see a clear “elbow” in the next candle to confirm. Nothing here yet. “
As Bitcoin wobbles at the edge of the range of $ 80,000, Markt’s opinion has decreased significantly. The cryptographic fear and greed index has fallen to 10, its lowest level in a year, indicating “extreme fear.” Merchants have different opinions about the price of Bitcoin where it will be resolved. Many anticipate a potential fund between $ 80,000 and $ 71,000.
Meanwhile, the data shared by Velo in X shows the worst performance of three days of Bitcoin since 2022, accompanied by large capital outputs of ETF Spot BTC.
Beyond market instability, broader economic concerns are closed, since the Trump administration has issued directives to federal agencies that describe the plans for large -scale layoffs, adding more uncertainty to the financial landscape.
The recent Bybit trick on February 21 has shaken the confidence of investors even more. According to reports, the exchange suffered an amazing loss of $ 1.4 billion. This marked the largest financial robbery in history.
With such events that cloud the cryptographic ecosystem, it remains to be seen if Bitcoin finds a new support or continues to decrease.
