$BTC Price drop: BTC fell 4% to 91,900 USD after the news about Trump's tariffs, currently stabilizing around 93,143 USD
Technical analysis: neutral RSI, bearish MACD, key support at 92,000 USD with accumulation by large investors
Catalysts: the 10% tariffs on EU nations triggered a risk-off sentiment and long liquidations worth 860 million USD
Market status
BTC is at 93,143 USD, down 2.13% in the last 24 hours after hitting an intraday low of 91,900 USD.
The correction triggered long leverage liquidations of over 860 million USD across the derivatives market.
A technical failure on a decentralized exchange briefly showed BTC at zero, exacerbating fear in the market.
Market capitalization remains at 1.860 trillion USD, although capital has slightly shifted towards safe havens like gold.
Driving factors
President Trump announced a 10% tariff on products from eight European nations, shifting investor sentiment towards a defensive position.
Tariffs are considered intrinsically inflationary, leading to predictions that the Federal Reserve may delay interest rate cuts.
Geopolitical tensions have intensified with the EU scheduling an emergency summit to discuss retaliatory trade measures against U.S. products.
Despite the price drop, spot Bitcoin ETFs have seen significant inflows ahead of the news, signaling continued institutional interest
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Trading strategy
Key support is at 92,000 USD, where significant accumulation from large investors and buy orders is concentrated.
Immediate resistance is at 95,500 USD; a high-volume breakout is needed to resume the bullish trend.
The RSI is at 45 (neutral), while the MACD shows a bearish crossover on shorter time frames.
The recommended range to enter is between 91,500 and 92,500 USD, with a strict stop-loss set below the 90,000 USD threshold.