Why did Bitcoin decrease today?

Bitcoin (BTCThe price continued its correction with another 7 % decrease on February 28, taking the price less than $ 80,000. The current weekly revenue of the BTC, 18.46 %, is the largest weekly clouds since November 2022.

Bitcoin decrease where Trump declares a 10 % tariff for China

Bitcoin and Crypto Market collectively continued to interact negatively with the development of the American tariff with countries such as China, Mexico and Canada.

On February 27, the US President An additional tariff was announced by 10 % On the goods of China, which will collectively bring total definitions to 20 %, and enter into force on March 4.

Related: Bitcoin has almost all Trump elections gained a decrease in less than $ 80,000

Trump also strengthened his intentions to move forward with 25 % of the customs tariffs on Canadian and Mexican imports, which will be implemented on the same date. Likewise, Canadian Prime Minister Justin Trudeau said that the neighboring nation was also preparing for “a very strong and strong response.”

In light of the comments, the total maximum Crypto market decreased by 8.5 %, with the American stock market loss by 1.5 % over the past day.

Bitcoin ETFS stain bleeds $ 3.6 billion in February

Acute Hepbody Prices in Bitcoin in February Wet demand for traded investment fundsPaying the total external flows to about $ 3.65 billion. On February 25, the market witnessed a huge flow of $ 1.1 billion, The biggest withdrawal one day Since the circulating investment funds have been provided.

The current external flow chain dates back to February 18, as all investment funds in Bitcoin recorded more than $ 1.5 billion in external flows in the past four days.

Ki Young JU, founder of Cryptoquant, believes that this declining trend may abide for a while,, Sayingand

“Pitcoin Spot ETF demand is weak. Prices may take time.”

Bitcoin fills the CME gap: Is 70 thousand dollars the next?

The Bitcoin spiral has continued beyond the Fair Value Gap (FVG) between 81,000 dollars and $ 85,000, as it decreased to less than 80,000 dollars for the first time since November 2024.

As CoINTELEGRAPH I mentionedBTC is now filling the CME gap, which ranges from $ 80,000 to $ 77,000.

The level of $ 74,000 will be the next station if this region fails to provide support for price recovery, which represents the previous peak (ATH) in March 2024.

Meanwhile, the relative power indicator (RsiIt is now exaggerated in the daily time frame, the lowest level since August 2023, when Bitcoin ranged between $ 25,000.

Related: When will the Bitcoin price?

But while this increases the chance of reflux, Magos, an unknown encryption merchant, Secure The bottom is closer to $ 70,000. Traders are expected to sell in any immediate short -term bounce until the level of $ 70,000 is reached.

It is important to note that the $ 70,000 sign is the price of the US election results. Historically, Bitcoin did not re -visit the value of election day in the United States after it rose in 2016 and 2020.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.