TRUMP TARIFFS RUSSIA THREAT DRAGS BITCOIN BELOW $120K AFTER RALLY!

Bitcoin's price dropped below $120,000 after reaching an all-time high of $123,091, following US President Donald Trump's threat to impose 100% tariffs on Russia within 50 days if the conflict in Ukraine doesn't cease. This move has sparked market uncertainty, potentially driving investors towards safer assets.

Key Factors Contributing to the Decline:

-Trump's Tariff Threat: Trump's statement about introducing 100% tariffs on Russia directly affected Bitcoin, causing a sharp dip and testing the $119,000 support leve

Geopolitical Tensions: The threat of tariffs and potential trade war has heightened uncertainties for investors, making them cautious about investing in cryptocurrencies.

Profit-Taking: Exchange netflows showed a sharp spike after Bitcoin reached $123,000, suggesting profit-taking activity and potentially signaling a local top.

Market Sentiment:

- Crypto Fear & Greed Index: The index moved up to 70, solidifying its position in the “Greed” category, which may indicate overbought conditions.

Bitcoin Futures Open Interest: Increased by 3.87% to $87.95 billion, indicating growing momentum in derivatives markets .

Potential Future Movement:

- Correction or Consolidation: Analysts suggest that the current movement could lead to a healthy correction or consolidation in the coming days.

- Rally Continuation: However, some analysts believe that the bullish momentum may fuel Bitcoin's price towards a new all-time high of $136,000, especially if crypto bills are voted in .#ETHBreaks3k #TradingStrategyMistakes #CPIWatch #StrategyBTCPurchase $BTC