FastNews
Bitcoin (BTC) slipped below the 200-day simple moving average (SMA) Friday, taking the weekly loss to 16%. Prices briefly dipped below the $80,000 mark for the first time since Nov. 10 as renewed concerns about U.S. tariffs boosted demand for the U.S. dollar.
Alternative cryptocurrencies posted bigger losses, with payments-focused XRP losing the key 23.6% Fibonacci retracement level to suggest deeper losses ahead. Solana's SOL slipped to $125.6, the lowest since September, while DOGE fell below 20 cents, retracing nearly 78.6% of the October-December rally.
President Donald Trump said Thursday that he plans to impose tariffs on Canada and Mexico, starting March 4, alongside doubling the 10% universal tariff charged on imports from China.
"We expect US tariffs to regain centrality and drive the dollar sustainably higher," ING said in a note to clients Thursday. The dollar index, which tracks the greenback's value against major currencies, rose to 107.30, extending the bounce from Wednesday's lows near 106.15 #PriceTrendAnalysis
