Bitcoin's price has fallen by 3% over the last 24 hours, and its market cap decreased by 2.44%. Many investors link this to Donald Trump's new tariffs.
What's Behind the Drop?
The announcement of Donald Trump's upcoming tariffs has led to expectations of potential economic changes. As a result, various markets, including cryptocurrency, have experienced volatility. In the last 24 hours, $64.04 million worth of Bitcoin was liquidated, with $45.34 million in long positions.
Experts' Opinions
Famous investor Robert Kiyosaki sees the current price drop as a buying opportunity, noting on social media platform X that debt remains the real issue. BitMEX co-founder Arthur Hayes expects a financial crisis which could push Bitcoin down to $70,000 before a significant rise.
Current Support Analysis
Glassnode analysts point out a significant price cluster between $94,000 and $101,000, with the $98,000 level being crucial support. If Bitcoin breaks below this level, it might fall to $90,000 or lower. Chart patterns show a potential double-bottom, suggesting an opportunity for Bitcoin to rise above $106,000 again.
The market remains highly volatile with Trump's tariffs on the horizon. Some see a buying opportunity, while others view potential risks for further declines.
