Why the price of bitcoin, Ethereum, XRP, and Dogecoin decreases today?

The encryption prices decreased today, March 28, with bitcoin drop to less than 85,000 dollars. The BTC price also has also caused an ETHEREUM, XRP and Dogecoin, amid a huge sale of immediate merchants. Moreover, the concerns related to Trump’s definitions and the issuance of inflation data today contribute to the increasing market concern.

Why do BTC, ETH, XRP and Doge fall today?

Bitcoin price is struggled to defend the support level at 85,000 dollars after a decrease of 2.4 % in 24 hours. Meanwhile, ETHEREUM and XRP decreased by 6 %, while the price of Dogecoin has seen the largest one -day loss by 7 % despite the participation of analysts A. Positive Outlook DOGE.

One of the reasons behind the low bitcoin price today is the flow of sales activity on the BitFinex Stock Exchange. This sales activity is displayed by the instant CVD index, which indicates a large number of sales orders on Bitcoin during poor pressure. The instant CVD has been in the downward direction since early this week, a sign that merchants were characterized.

The price of ETHEREUM also decreased to less than 2000 dollars due to Decreased demand from buyers. An analyst on X indicated that the pressure pressure was weighing ETH since December last year. If this continues, Ethereum will continue to decrease and may decrease less than $ 2000.

In addition, the Deribit BTC deviation shows that the market morale towards Bitcoin is now landmark. Analyst Nazro has noticed an increase in the number of traders who buy PUT options in the price range to 80,000 dollars to 85,000 dollars. When many traders buy PUT options instead of call options, this shows that they expect the bitcoin price to continue.

This negative market morale adds to the factors that make the encryption market to decline today.

Other reasons make encryption prices decrease today

Besides the current market conditions that force Bitcoin, Ethereum, XRP and Dogecoin to a decrease, macroeconomic factors also nourish the declining direction in the encryption market today.

The tariff for President Trump recently announced next week. These definitions are expected to cause shock in the global auto industry. More importantly, these definitions weaken the American economic view, causing tensions in the encryption market today.

A The last CoingApe article He pointed out that economists have warned against the recession that is waving on the horizon, which also affects the price of bitcoin. Meanwhile, Reuters reported that the American budget office in Congress exposes weak economic growth and high unemployment in the coming years.

we PCE inflation data It will also be released today, and anything that alludes to the high costs of consumer will force Bitcoin, Ethereum, XRP and Dogecoin again. Traders will pay attention to this data to evaluate the FBI decision on interest rates.

The price of Bitcoin needs a decisive closure of more than $ 86,000 to avoid the continuous declining direction, while ETHEREUM needs to retain the decisive support level of $ 2000. The price of XRP can be recovered if he defends two dollars while Dogecoin has already decreased to less than $ 0.20, indicating more opposite winds.