Today, February 28, 2025, the cryptocurrency market is experiencing a period of high volatility, especially with Bitcoin (BTC).
Bitcoin Price Analysis:
From the historical peak of $109,000 on January 20, 2025, the price of Bitcoin has dropped below $80,000 on February 28, 2025, marking a decrease of nearly 26% in just over a month.
Currently, the price of Bitcoin is trading around $79,740, down 7.5% from the previous day.
Reasons for the decline:
1. President Trump's economic and tariff policies: Concerns about inflation and new tariff policies have created instability in the market, negatively impacting investor sentiment.
2. Bybit exchange hack: Last week, the Bybit exchange was attacked, losing $1.5 billion, raising concerns about security and leading to a wave of sell-offs in the market.
3. Negative market sentiment: The fear index is approaching a bottom level, indicating increasing anxiety within the investment community.
Predictions for upcoming trends:
Analysts warn that if Bitcoin cannot maintain key support levels, the price may continue to drop further. Some predict that the price could fall to $70,000 in the short term.