- Bitcoin struggled when the market sentiment was deteriorated in the midst of Trump’s rates and economic uncertainty.
- Solid liquidations and the Bybit -Hack intensify panic and erases billions from crypto markets.
The Cryptomarkt has resumed its downward process after a brief recovery of turbulence caused by the rate announcement of Donald Trump on Canada and Mexico.
This followed on Trump’s announcement to impose a rate of 25% on the European Union during his first cabinet meeting.
Speaking at the first cabinet meeting On February 26, Trump said,
“We have made a decision and we will announce it soon. In general it will be 25 percent, and that will be on cars and all other things. “
Current market condition for BTC
According to the latest data from Coinmarketcap, global crypto market capitalization has fallen by 3.61% in the last 24 hours, with $ 2.83 trillion.
Bitcoin [BTC]” reflection The wider market sentiment, acts at $ 86,112.34 after a decrease of 3.01%, which marks its third consecutive day of losses.
That said, the leading cryptocurrency fell short to $ 82,256 – the lowest since November 11, 2024 – before he saw a slight rebound.
However, market data indicate that further corrections can be on the horizon before the stability returns.
These analysts believe …
Note about the same, independent market analyst Scott Melker posted the next graph and said,
“Bullish divergence with RSI still very much in the game. At the moment RSI is still making a higher layer. We have to see a clear “elbow up” on the next candle to confirm. Here. ”
Source: The wolf of all streets/x
Because Bitcoin is faltering of $ 80,000 on the edge of the range, the market sentiment has fallen considerably. The Crypto Fear & Greed Index has fallen to 10, the lowest level in a year, which indicates “extreme fear”.
Traders remain divided about where Bitcoin can find a stable floor. Many expect a potential soil between $ 80,000 and $ 71,000.
Source: Colin speaks crypto/x
In the meantime, data shared by Velo on X (formerly Twitter) sketches a grim image, in which Bitcoin’s worst three -day performance has been marked since 2022, accompanied by substantial capital flows of Spot BTC ETFs.
Source: VELO/X
What is more?
In addition to market turbulence, broader economic concerns indicate, because the Trump administration has issued guidelines to federal agencies with plans for large-scale dismissals, so that further uncertainty is added to the financial landscape.
This also caused a sale in US shares, with the S&P 500 decreasing in the midst of increasing economic problems.
Source: De Kobeissi -Letter/X
In addition to the shock waves of Trump’s tariff plans, the cryptomarkt has been hit by a huge wave of liquidations. $ 340 million was wiped out in just an hour and more than $ 150 billion has been lost in the last 24 hours.
The increased volatility has fueled the sale of panic, the deepening of losses across the board.
As an addition to the unrest, the recent Bybit -Hack further shaken investor confidence on 21 February. The stock market is said to have a stunning loss of $ 1.4 billion ago. This meant the greatest financial robbery in history and strengthened uncertainty in an already fragile market.
With such events that cloud the crypto ecosystem, it is still to be seen whether Bitcoin finds or continues to refuse new support.