In the cryptocurrency market, Bitcoin has experienced a significant price drop, falling below the $102,000 mark. This comes as the cryptocurrency faces fading momentum and macroeconomic uncertainties.
Recently, the upward momentum of Bitcoin has been gradually weakening. Technical indicators suggest that the previous short – term strong support level of $103,000 has been broken, and the market is showing signs of a pullback. At the same time, the overall cryptocurrency market is also in a state of volatility.
Macroeconomic factors have also added to the uncertainty. For example, Trump’s proposed increase in steel and aluminum tariffs to 50% has intensified global trade tensions. This has led to a rise in investors’ risk – averse sentiment, causing funds to flow towards safe – haven assets such as gold and crude oil. Such macro – level changes have a certain impact on the cryptocurrency market, making investors more cautious.
As of the latest data, the price of Bitcoin has fallen below $102,000, with a 24 – hour decline of 1.19% and an intraday trading range of $103,280 – $105,864. The trading volume in the spot market has reached $28 billion in 24 hours, and the open interest in derivatives has surged, indicating high leverage risks. Analysts believe that the current market adjustment trend has not ended, and the future price trend of Bitcoin will depend on various factors such as changes in macro – economic conditions, the direction of regulatory policies, and the influx of institutional funds.
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