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🚨 Bitcoin Drops 4% After Trump’s Crypto Speech – What’s Next?
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Bitcoin’s price hit a 10-day high of $85,900 on March 20 before dropping 4% to $83,400 following former President Donald Trump’s speech at Blockwork’s Digital Asset Summit.
Why Did Bitcoin Fall?
Market Expectations: Investors had already priced in Trump’s pro-crypto stance from previous rallies.
Technical Rejection: A long upper shadow in the price chart signals rejection at higher levels.
Low Volume: The sell-off lacked strong momentum, suggesting no major downturn ahead.
Bullish Signals Remain
Derivatives Market Optimism: Despite the dip, futures data shows bullish sentiment.
Liquidation Trends: $159.59M in liquidations, with short positions ($90.66M) seeing higher losses than longs ($68.94M)—a sign of buying pressure.
Institutional Demand: A $14 billion increase in large BTC transactions hints at continued interest from big players.
Bitcoin needs strong volume to break above $90,000 for further upside. Will bulls step in soon?
#TrumpAtDAS
Why Did Bitcoin Fall?
Market Expectations: Investors had already priced in Trump’s pro-crypto stance from previous rallies.
Technical Rejection: A long upper shadow in the price chart signals rejection at higher levels.
Low Volume: The sell-off lacked strong momentum, suggesting no major downturn ahead.
Bullish Signals Remain
Derivatives Market Optimism: Despite the dip, futures data shows bullish sentiment.
Liquidation Trends: $159.59M in liquidations, with short positions ($90.66M) seeing higher losses than longs ($68.94M)—a sign of buying pressure.
Institutional Demand: A $14 billion increase in large BTC transactions hints at continued interest from big players.
Bitcoin needs strong volume to break above $90,000 for further upside. Will bulls step in soon?
#TrumpAtDAS
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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