At the end of March, Bitcoin's price fell to $83,000 due to political uncertainty and economic concerns. This article explores the main factors affecting the market.
Market Developments
In March, despite a brief rise in Bitcoin prices, political tensions and Trump's new tariff proposals increased market selling pressure. Statements by former SEC official Paul Atkins before Congress may have heightened investors’ risk perception.
Warning from BlackRock CEO
Larry Fink, CEO of BlackRock, warned of the risk to the US dollar's status as the global reserve currency due to rising national debt and budget deficits. He emphasized that high interest payments on government debt might surpass defense spending.
Technical Indicators and Expectations
Bitcoin faced selling pressure at the $90,000 level, while the possibility of dropping below the $67,000 support level could signal deeper corrections. Although parabolic indicators provide short-term negative signals, long-term expectations may still be bolstered by institutional accumulations.
Bitcoin market developments continue to evolve under the influence of economic and political factors. Investors are advised to act cautiously, considering global economic conditions and technical analysis data.
