Failure To Hold This Level May Trigger Crash To $74,000
Bitcoin (BTC) and other cryptocurrencies are undergoing new sales pressure, because the situation between the United States and China has continued to improve, and both parties have improved new tariffs. On Monday, the largest cryptocurrency fell to $ 91,000, while Ethereum (ETH) and Solana (SOL) (SOL) (SOL) (SOL) (SOL) (solane) also faced losses.
CME Bitcoin Futures Open interest has dropped by 4 %
Latest Instant payment of tariffs After levying a 10 % tax on all Chinese items in the United States, from February 10, China responded to tariffs on its own imports (such as petroleum and liquefaction natural gas).
In another development, China has conducted a investigation of the assumption of anti -Torais infringement on the Google LLC, which has exacerbated the tension between the two economic giants.
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The market turmoil has eliminated the benefits of the short -term relief rally on Monday, which happened after the Trump administration decided to postpone it. tariff It lasted for a month in Mexico and Canada. The initial statement of US tariffs on the weekend has triggered a sharp decline in cryptocurrency prices.
Investors’ trust in risky assets have been significantly affected, because American investors earn $ 235 million in net assets from a group of 12 Bitcoin Exchange funds (ETFs) on Monday.
In addition, the opening interest in the opening of the derivative market of the Chicago Commercial Exchange (CME) Group Inc. has decreased by 4 %, reflecting a more cautious attitude Institutional investorEssence
Donal Trump, President Donal Trump, was recognized by his pro -Crypto’s position. He accidentally brought more uncertainty to the digital asset market.
Although Trump’s growth of cryptocurrencies has increased, the market is now facing a difficult landscape marked by geopolitical conflicts and regulatory obstacles.
Historical trends suggest the potential of deeper correction
As of writing this article, the transaction price of Bitcoin was $ 98,970, which was far higher than the 13 % of its historical highest level. At the same time, American ETF Investment Ethereum Monday witnessed the record of records and carried out a large amount of liquidation of leveraged positions in continuous trade uncertainty.
Ishares Ethereum Trust, led by BlackRock, accounts for half of the $ 1.5 billion transaction volume of Nine groups of ETFs. According to Bloomberg data, ETH decreased by as much as 27 % on Monday, resulting in a liquidation volume in the permanent futures market exceeding $ 600 million.
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Analyze the current price trend, encrypted analyst Ali Martinez Sure $ 92,180 as a key level of Bitcoin, based on MVRV (market value) pricing band.
If this support level fails, the next target may be $ 74,400. Although the price correction has recently been carried out, Bitcoin traders still enjoy a profit margin of 3.36 %.
Historically, when the profit margin drops to less than -12 %, the bottom of the local bottom has formed suggestion The bitcoin may have further downward potential before reaching the real bottom.
In addition, the MVRV momentum index has been in a negative area since the beginning of the year, which shows that the market’s continuous market is weak.
Charts from Dall-E’s characteristic images, tradingView.com
