The price of Bitcoin has plummeted below $115,000, reaching a three-week low of around $114,250. The main cause of this decline is President Trump's executive order imposing trade tariffs on several countries. This move triggered a stock and crypto sell-off, with $110 billion exiting the spot crypto market in the past 12 hours.
Main Factors:
- Trade Tariffs: Trump's executive order imposed high tariffs and trade deals.
- Market Uncertainty: Uncertainty over tariffs and macroeconomic uncertainty amplified volatility.
Price Predictions:
- Some analysts predict Bitcoin could still reach $135,000 or even $150,000 in the near future.
- The next support zone for Bitcoin lies around $111,000 if there's no rebound.
Currently, the price of Bitcoin is around $115,577 with a 2.29% decline in the past few days. The market capitalization of Bitcoin has reached $2.34 trillion. #TrumpTariffs $BTC