Bitcoin price dumps again – will $ 90,000 turn into resistance or support?

Bitcoin (BTCThe price decreased from 93,700 dollars to 89,250 dollars in less than an hour March 3, which wipes half of the gains of the day before. This decrease may have caused panic among merchants as the S&P 500 futures decreased by 1 % after China announced the retaliatory measures against additional import tariffs by 10 % in the United States.

Despite sales, Bitcoin’s chances of restoring $ 90,000 support are still strong. On March 2, US President Donald Trump stated that Bitcoin and Ether (Eth) The main components of the strategic digital asset reserves in the country will be. Trump also hinted that more details will be revealed during the first government The top of encryption On March 7.

The main driver was behind the low price of Bitcoin on March 3 was the excessive expectations of Trump’s jobs at the end of the week. Investors quickly realized the bureaucratic obstacles concerned, including the prolonged approval process and the need for congressional approval. In addition, doubts remain about whether the plan will include actual purchases of these encrypted currencies.

Aurelli Barteri, the main research analyst at the Blockchain Analysis, expected it to be Bitcoin Rapid to 94,500 dollars During the weekend was not sustainable. The increase appeared by 21 % of the lowest level in 78300 dollars on February 28 in some of the market participants, especially given the war of continuous global tariffs and uncertainty in the wider macroeconomic economy.

Chinese definition revenge can harm the American economy; The financing of the encryption reserves is still not certain

China has pledged to take revenge on Trump’s tariff by 10 % by targeting American exports, including soybeans and critical minerals like rare Earth. This step can increase food and technology costs, disrupt supply chains, and reduce countryside income, which may reduce the US gross domestic product by 0.3 % to 1.3 %, according to economists. Director of hedge funds Anthony Scarmocchi to caution If tensions escalate more, investors must prepare for economic pain.

Murphy, a lawyer who specializes in legal and commercial cases of encryption, noted that even in a state of unlikely to quickly agree to the reserves of strategic digital assets, the main question remains the source of financing. Most likely, initial approval will include stopping government encryption asset sales – a procedure with a limited impact on prices.

Another concern for the Bitcoin merchants came from Michael Silor’s announcement on March 2 that the strategy (previously known as Microstrategy) did not issue new or more shares. BTC Holdings exceeds 499,096 In the previous week. Although there is no prior signal, some merchants expect that “purchasing a decrease.”

Runnerxbt’s encryption trader and analysis expressed his frustration with the purchase of a $ 2 billion strategy of bitcoin at an average price near 97,500 dollars, but it is still inactive with the BTC drop to a range of $ 80,000. His analysis also indicates that Bitcoin’s purchases of a strategy exceeding $ 95,000 can be negative in the market, as the previous situation led to a short -term gathering only.

Related to: Mstr Schen Pops 15 % after the weekend bitcoin

Despite the exacerbation of investor morale towards the global economy, Bitcoin is likely to restore the support of $ 90,000, as the strategy is expected to continue to accumulate BTC through $ 42 billion Debt Plan. Michael Sailor did not show any time for the market when adding Bitcoin’s bodies to the company, indicating more purchases regardless of price levels.

For the expectations surrounding the strategic encryption reserves, the timetable remains uncertain, but it is likely that the long -term effect on the price of bitcoin is positive. BTC is designed to flourish in the environments where investors see excessive stock market assessments or potential real estate corrections. Given these conditions, the possibility of bitcoin exceeding $ 95,000 in the near future is still high.

This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.