$BTC
Following the recent negative news, I believe BTC has entered a downtrend with the sharp drop and is likely to see the 98,200 level. There's a bear flag formation on the 1-hour chart.
📉 Why Did Bitcoin (BTC) Drop?
- Macroeconomic Uncertainty & Trade Tensions

The U.S. imposed a 50% tariff on the European Union, which rattled global markets.

This uncertainty reduced risk appetite, including in the crypto sector, adding downward pressure on Bitcoin.
- Tensions Between Elon Musk and Donald Trump

Elon Musk opposed a bill President Trump presented to Congress.

Trump responded harshly, increasing political tension.

Such events create market uncertainty, pushing investors away from riskier assets like cryptocurrencies.