Bitcoin’s price is under pressure due to the looming threat of new tariffs imposed by President Trump on Russia. The geopolitical situation has caused uncertainty in the market, and Bitcoin investors are now bracing for the possibility of a drop below the $80,000 mark.
Trump’s recent comments about Russia’s handling of the Ukraine ceasefire and his plan to impose a 25% secondary tariff on Russian oil have spooked investors. If these tariffs are enacted, it could drive up global oil prices, increasing energy costs and triggering a potential crisis for Bitcoin miners. A rise in energy costs could force miners to sell their Bitcoin holdings to cover operational expenses, adding further downward pressure on the asset’s price.
With rising tensions and the threat of sanctions, Bitcoin’s price, which is currently hovering around $82,000, could slide further. The broader cryptocurrency market remains in a sideways trend as investors await signs of a recovery. However, the technical indicators for Bitcoin are increasingly bearish. The MACD shows no sign of a bullish crossover, and the RSI suggests continued downward momentum.
Some analysts, including Peter Brandt, predict that Bitcoin could fall significantly lower, potentially dropping to around $65,635. Currently, Bitcoin is trading just above key support levels, but a decline below $80K seems increasingly likely in the short term. Even with institutional players like Marathon Digital launching stock sales to fund new Bitcoin purchases, the broader sentiment remains pessimistic due to the ongoing geopolitical risks.
In this environment, investors will be closely watching the unfolding situation, as the impact of tariffs and rising global tensions could have a significant effect on Bitcoin’s price trajectory. If the market sentiment worsens, Bitcoin’s support at $80K may not hold, and further declines could be in store.
Related topics:
4AM Fitness Influencer Inspires Morning Routine Memecoin
4AM Fitness Influencer Sparks Viral Morning Routine Memecoin Craze
Coinbase Primary Target in GitHub Attack, Cybersecurity Firms Report
