Bitcoin is experiencing another decline due to President Donald Trump's political statements. Below are the main aspects of the situation.
Current Bitcoin Price Dynamics
According to the latest data, Bitcoin's price has dropped by approximately 1.50% in the last hour. The current situation is depicted in the chart with minute candles showing price dynamics.
Political Influences
The reason for the decline is thought to be US President Donald Trump’s announcement of continuing to increase customs duties on other countries, in addition to the 25% duty imposed on the European Union. These events coincided with the recent decline in Bitcoin's price.
Overall Market Impact
Along with the cryptocurrency market, traditional markets like gold are also experiencing declines. With cryptocurrency enthusiast Donald Trump's election as President, Bitcoin's price entered a bull cycle, exceeding $100,000. However, his recent statements are putting pressure on the crypto market.
With increased volatility, there has been a large amount of liquidation in the crypto market. In the last 24 hours, $376 million was liquidated across all cryptocurrencies, with $238 million in long positions.
