Btc Moves Lower

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Btc Moves Lower

Bitcoin (Btc) Moves 25% Lower From Ath

Bitcoin (BTC) has lost 25% of its value in a short span of time. It feels as if even the diamond hands are now shaking and trying to sell the cryptocurrency.

The rut in the Bitcoin (BTC) comes as the markets are now realizing that Trump is not as pro-crypto as they initially thought!

major threat for the Bitcoin (BTC) is Trump's threat to impose tariffs. In fact, the Trump administration has already imposed tariffs on many countries.

Bitcoin (Btc) Headed To $70k

Over all, the Bitcoin (BTC) has shed a lot of its value from its all-time high. A quick look shows that even other cryptocurrencies are struggling such as XRP, Polkadot, and Ether.

According to one analyst, the situation is similar to what we saw in the year 2022. It is almost like the crypto winter, except that the winter season is a long time. He added that the bearish pressure is due to geopolitical uncertainty and Trump's tariffs.

Recently, Trump has put a tariff rate of 25% on Mexico and Canada. This time, there are very slim chances that he will reverse these tariffs. Trump has also made it clear that they are thinking about putting an additional 10% levy on the Chinese imports.

Amidst all of this, one expert added that the Bitcoin (BTC) is now heading towards $70K or even $60K. This will also initiate the start of the next crypto winter.

Now, the question on everyone's mind is how far the Bitcoin (BTC) & other coins will go. The nearest support is seen at $70K while the next one would be around $60K.

Overall, the situation looks very tough for the Bitcoin (BTC) and the rest of the cryptocurrency market. From tariffs to stronger US Dollar to higher yields, there's a lot to worry about.

However, things could turn around once again if the Trump administration delivers even a fraction of what they promised earlier.

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