🚨Breaking Fundamental News:
• $1.5 Billion Crypto Heist: $1.5 billion was stolen from the Bybit exchange in a hack carried out by the North Korean hacking group Lazarus. This caused panic in the market, leading Bitcoin’s price to drop from $109,000 to $60,000.
• MicroStrategy’s New Purchase: MicroStrategy has acquired an additional 20,356 bitcoins, bringing its total holdings to 499,096 bitcoins, now valued at $47.4 billion.
• Market Decline: Bitcoin’s price has fallen 27% from its peak of $109,000 and is now below $80,000. Analysts suggest that the $70,000 support level is crucial.
• Gold vs. Bitcoin: Since President Trump took office, gold has outperformed Bitcoin, indicating a shift in investor preference towards gold due to economic and geopolitical uncertainty.
• Impact of Tariffs: Following Trump’s announcement of new tariffs on Canada and Mexico, the Bitcoin and cryptocurrency market experienced a significant decline, wiping out $1 trillion from the market.
• Market Sentiment: Bitcoin has dropped below $80,000, and traders anticipate further declines, especially due to high open interest in put options at the $70,000 strike price.