Abdelrahman
Bitcoin’s value has recently dropped below $80,000, as a major downturn in the cryptocurrency market triggers a loss of $1 trillion from the overall market capitalization. This development has raised concerns about further declines in price, sparking fears among investors about potential ongoing losses. Learn more here.
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The current bitcoin price has decreased by approximately 25% from its peak of nearly $110,000. This decline coincides with warnings from industry insiders about a potential “suppression” of bitcoin prices. Read more about it here.
Additionally, as traders are advised against “buying the dip,” analysts are speculating on the potential depth of bitcoin’s price correction and whether it may lead to a broader market collapse. Explore the details here.
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Recent international tariffs imposed by U.S. President Donald Trump have been implicated in the bitcoin price decline, which resulted in a $1 trillion reduction in the overall crypto market. … [+]
“Technical analysis indicates that the next support level for bitcoin may settle around $70,000,” stated Ruslan Lienkha, market chief at the cryptocurrency platform YouHodler, in an email. “However, reaching this point relies heavily on maintaining negative sentiment within the equity markets. U.S. stock indices have shown consistent declines, though it’s premature to declare the end of the broader upward trend—it could merely be a momentary correction,” he added.
Markus Thielen, founder of 10x Research, also noted, “Bitcoin is currently exhibiting a classic ascending broadening wedge pattern, which points towards a potential price target in the low $70,000 range.”
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The bitcoin price has seen significant declines from its previous all-time highs.
Analysts have also attributed the recent downturn in the crypto market to the escalating international trade tensions instigated by U.S. President Donald Trump, coinciding with a decline in the U.S. stock market from its record highs.
“Presently, sentiment in the crypto market is notably anxious, as reflected by the Crypto Fear & Greed index reading of 21, its lowest since September,” commented Agne Linge, growth head at decentralized financial institution WeFi, in an email. “With tariffs on Canada and Mexico scheduled to be implemented on March 5, the conventional stock market is adjusting to the anticipated economic repercussions. Many investors might continue to move their assets away from riskier investments, as the current economic climate demands stability. Unfortunately, bitcoin, with its inherent volatility, cannot provide that reassurance in the short term.”
