Bitcoin fell to less than $ 80,100 amid fears of the trade war; Altcoins decreases to 9 %

Main encrypted currencies, including Bitcoinand ethereumand Solanaand Xrpand CardanoOn Monday, Dogecoin rejected concerns about the American economy and global trade tensions that weigh the morale of investors.

A group of soft American economic data continued on Friday after the monthly figures showed that the labor market created less jobs than expected last month, in the first salary report that seizes the policies of former US President Donald Trump.

Meanwhile, in an interview with Fox News on Sunday, Trump refused to predict whether his definitions in China, Canada and Mexico would lead to American stagnation, which increases uncertainty in the market.

As of 10:37 am, Bitcoin decreased by 4 % to 82,599 dollars after touching one day at 80,052 dollars. Ethereum decreased by 5.4 % to $ 2,070, while the maximum CRYPTO global market has decreased by 4.4 % to $ 2.7 trillion in the past 24 hours.within altcoinsSolana decreased by 7.3 %, XRP 5.6 % decreased, Cardano lost 7.2 %, and Dogecoin 8.6 % decreased.

“Bitcoin has decreased to 82,000 dollars, due to the uncertainty surrounding the economic policies of former US President Donald Trump,” said Shifam Thakal, CEO of Buyucoin. He added that the stability of the market can happen if the US Federal Reserve keeps stable interest rates and provides a clarity on economic policy. Vikram Suburaj, CEO of Jiotoos, indicated that although Bitcoin recovered from $ 80,000, it remains in a declining direction amid political economic economies. He said: “Altcoins reflected the Bitcoin movement, as it decreased by 6-10 %.Also read: Kiyosaki rejects Bitcoin Etfs: Why is the real BTC preferred over paper assets

Bitcoin’s market value fell to $ 1.637 trillion, with hegemony at 60.46 %. The trading volume increased 24 hours by 148.7 % to 38.23 billion dollars, while Stablecoin 92.9 % of the total encryption trading accounted for 93.64 billion dollars, according to Coinmarketcap.

Also read: TROMP Strategic Bitcoin Strategic Plan: What is the following for encryption? This is what the experts believe

Technology view by Zebpay Trade Office

The price of Bitcoin shows increasing signs of weakness as it approaches the weekly closure, which increases the risk of a possible decrease to $ 75,000. Exchange orders books indicate an important area for merchants, with liquidation levels appearing on both sides of the immediate price. With BTC/USD drop to $ 83,000, long positions began to incur losses. Meanwhile, the funds circulating in Bitcoin exchange (ETFS) witnessed net outfits of about 370 million dollars on March 7, after news of President Donald Trump’s proposal to obtain the American Bitcoin Strategic Reserve. This development indicates caution among investors.

BTC, after getting its highest level ever 109,588 dollars, the trading in the “descending triangle” style began and was getting strong support at a price of 90,000 dollars. The original eventually decreased below the pattern, causing prices to drop to $ 78258. BTC formed a “hammer” candle in the last depression and organized a relief gathering of up to $ 95,000. However, the bulls lost their fist, which led to a correction to 80,000 dollars. Currently, the original tries to obtain support at this level. If it exceeds 80,000 dollars, the bulls may regain momentum. If you close less than $ 80,000, prices may slip to $ 73,500.

Main technical levels
Support: $ 80,000 73,500 dollars
Resistance: 95,000 dollars 110,000 dollars

Also read: Trump signs to create a strategic bitcoin reserve

(Leave responsibility: Recommendations, suggestions, opinions and opinions that experts make are their own. These are not the opinions of economic times)