Amid U.S. economic concerns, the cryptocurrency market took a sharp downturn, costing investors nearly $1 billion in a day.
Bitcoin Dips Below $80K
Bitcoin fell below $80,000 to reach $76,000, marking its lowest level in a quarter year. This sudden drop led to asset liquidations amounting to $952 million in 24 hours.
Bitcoin's Next Move: Recovery or Further Drop?
After weeks of falling, Bitcoin reached $76,900. Analysts note that if selling continues, the price might fall to the crucial support level of $73,750. However, if buyers manage to push the price above $80,000, it could signal a recovery towards $85,000.
Impact of Trump's Policies on Market Movements
There is speculation that former President Donald Trump’s policies may influence market movements. Market expert Anthony Pompliano suggests that recent stock market instability, partly due to Trump's tariffs, could pressure Fed Chair Jerome Powell to lower interest rates. Meanwhile, the 10-year Treasury yield fell to 4.21%, increasing the belief in a possible adjustment in monetary policy.
Current market events highlight the importance of monitoring economic indicators and political news, as these greatly affect the value of cryptocurrencies.
