Cryptocurrency analyst Ali Martínez stated that the price of BTC is in a difficult situation. He explained that there is strong resistance at $117,000, while a gap below is approaching, with little support between $113,000 and $108,000.
This indicates that it is more likely for the leading cryptocurrency to fall than to experience another sustained bullish push. It is worth mentioning that the cryptocurrency analyst also raised the possibility that BTC could drop below $100,000, reaching $95,000 in the process.
Factors such as Trump's tariffs, effective from August 7, could contribute to a potential decline in the price of BTC. Additionally, Brazil wants to call on the BRICS Alliance to unite against reciprocal tariffs.
This could unleash a large-scale trade war, as India is also severely affected by these tariffs following Trump's decision to impose an additional 25% tariff on it. There was already a reciprocal tariff of 25% on products from India.