On Monday, the Bitcoin price fell sharply to less than 80,000 dollars, and was affected by the constant sale in the stock market. During the weekend, Bitcoin faced strong pressure, and penetrated the main support levels. With feelings turning into a decline due to the increase in the long qualifying qualifiers, analysts now evaluate whether Bitcoin has reached its lowest point or if it has declined more.
The recession fears the Bitcoin trap investors
Bitcoin has decreased nearly 4 % in the past 24 hours, as there is a talk that investors are concerned about the potential economic shrinkage because US President Donald Trump has not ruled out the chance of stagnation. The first seven shares and main indicators in Wall Street are currently losing value.
Coinglass data shows that approximately $ 630 million was ranked in the Crypto market recently, including $ 210 million of long Bitcoin functions. Ethereum Longs lost $ 88 million, and $ 80 million has also disappeared in long positions in other digital assets.
Bitcoin’s price decreased when President Trump signed an executive order on Thursday to hold the strategic Bitcoin reserves and clarify the creation of digital assets stocks. The immediate decrease in the price may come from investors who realize that the demand has not included specific financing to buy Bitcoin soon.
Treasury and trade trustees guide to reach ways to gain more bitcoin that will not affect the budget, but it explicitly avoids the use of taxpayer funds for direct purchases. This decision appears to have disturbed investors.
Also read: I explained: Why was Trump’s Bitcoin’s plan disrupted in the encryption market?
Bitcoin low negatively affected a major scale on the chain. According to the data from InTothheblock, the number of large transactions decreased from a height of 25.86K to 17.29K. This indicates a decrease in attention from the main investors (whales), and may pave the way for the continuation of the short term in the short term.
However, a recovery in encryption prices can only occur if traders receive more clarity on the regulations and consider the broader effects of Trump’s commercial tariffs. These definitions have rocked global markets and pressure risk assets, including cryptocurrencies.
What is the next BTC price?
The Bitcoin price suffers from strong declining pressure as BTC aims to suspend less than the level of 80 thousand dollars. Currently, the bears are strongly defending an increase in the time when bitcoin faces strong pressure down the downward resistance line. Currently, Bitcoin is trading at $ 79,329, which reflects a decrease of 4.1 % over the past 24 hours.
The BTC/USDT trading pair will now aim to re -test the level of $ 75,000. With high pressure, SE will aim to standardize less than $ 75,000. If the BTC price decreases to less than 75 thousand dollars, we may see a strong decrease towards a decrease of $ 64,000.
On the other hand, if Bitcoin has a boom in buying domination and apostasy above the current level, we may see a break of more than $ 80,000 and the delusional resistance line. In this case, the BTC price may be less than $ 90,000.
