Today, Bitcoin began to draw attention due to a significant drop of 7.7%, bringing its price to operate below US$ 90.000. After a period of recent appreciation, this decline reflects a change in sentiment in the cryptocurrency market. News throughout the day highlighted a combination of external and internal factors within the crypto ecosystem that are pressuring Bitcoin's price and increasing risk aversion among investors.
Main Reasons Discussed by the Market for the Drop
Several factors are being pointed out as responsible for Bitcoin's drop today:
• Political Uncertainty in the US: Donald Trump's presidency has generated apprehension in the market. Trump has an ambiguous stance on cryptocurrencies, and his future policies may influence both regulation and adoption of Bitcoin, creating uncertainty among investors.
• Regulatory Concerns: The release of recent economic indicators from the US has raised doubts about the trajectory of American interest rates. This may signal changes in monetary policies, affecting global liquidity and, consequently, the cryptocurrency market, which is sensitive to these conditions.
• Investigation of Tether: US authorities are investigating Tether, the company behind the USDT stablecoin, for possible violations of sanctions and anti-money laundering rules. Since USDT is widely used in the crypto market and is supposed to maintain parity with the dollar (US$ 1.00), the news that it traded at US$ 0.9978 after the announcement of the investigation shook investor confidence.
• Reports of a Virus: There are mentions of a virus affecting the market, although details are still vague. This may be contributing to the atmosphere of uncertainty and caution among traders.
These combined factors created a cascading effect, leading to a widespread sell-off of Bitcoin and other cryptocurrencies throughout the day.
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