The conflict between Israel and Iran is dominating market sentiment this week, and whether the U.S. will join the war directly affects the market's rise and fall. The day before yesterday, Bitcoin returned to $108,000 due to signs of easing in the situation, but then Trump’s statement 'Everyone should leave Tehran immediately' caused Bitcoin's price to drop by $2,000. Yesterday, his statement 'actively considering joining the war' caused Bitcoin to fall below $104,000 again. If the U.S. does deploy troops, many believe Bitcoin will drop below $100,000.
Looking at the daily chart of Bitcoin, if it effectively falls below $101,000, it will terminate the upward trend that has continued since April 22, pushing Bitcoin into a bear market, and the cryptocurrency market may face a significant drop. There is also the Federal Reserve's interest rate decision results tonight; if Powell speaks hawkishly and insists on keeping short-term rates unchanged, this will surely accelerate the decline.
Source: (Block Beats)
Regarding the Federal Reserve's interest rate decision, the market consensus is to maintain rates unchanged while expecting two rate cuts this year, so the focus is on Powell's remarks at the subsequent press conference. Although U.S. economic data released two weeks ago showed short-term room for rate cuts, analysts generally believe Powell will insist on keeping rates unchanged amid unclear tariffs, and the current Middle East conflict may push oil prices up again, increasing inflation risks, giving Powell more reasons to maintain a wait-and-see stance. Therefore, the short-term bearish factors in the market have not been eliminated, and attention should be paid to position control.
This article is reprinted with permission from: (Block Beats)
Original Title: (MICA Daily｜Trump Considers Joining the War, Bitcoin Falls Below $104,000 Again)
Original Author: MICA
This article titled 'Is Trump Exploding Again? A Single Statement Caused Bitcoin to Fall Below $104,000, Is His Participation Worth Noting?' was first published in 'Crypto City'
