Will Bitcoin rise again? The price decreased as markets for the European Union’s introduction to the European Union

The growing geopolitical tension and global trade conflicts add pressure to the financial markets, as well as bitcoin. The most recent revenues of the European Union on American goods can support uncertainty in the market and lead to the correction of Bitcoin.

At the time of this post, Bitcoin was traded at 81 thousand dollars after a decrease of 7 % last week. Besides volatility, Bitcoin also faces a decrease in trading volumes of $ 43 billion, which represents a 27 % decrease in the past day.

While the broader upward trend is still intact, short -term fluctuations can keep investors on the edge of the abyss. The European Commission announced on March 12 that it will impose a 28 billion -dollar anti -commodity weapon on US goods starting from April.

Geopolitical factors that affect bitcoin

This decision comes in response to a 25 % tariff re -introduction to steel and aluminum imports. This step raises long commercial war interests, which can affect investor morale and market stability.

Bitcoin, Source: Coinmarketcap

Revenge definitions will affect a wide range of products, including steel, aluminum, textiles, home appliances and agricultural commodities. With the escalation of trade conflict, financial markets, including cryptocurrencies, may see increasing fluctuations.

Interestingly, Bitcoin is also traded in a narrow range, with $ 79,000 as a major support level and $ 91,000 as great resistance. The latest developments in the trade war may now lead to a temporary correction, potentially less than $ 72,000.

Main technical levels

Technically, Bitcoin is trading an important price of $ 80,000, which currently works as a price support level. After this point, the following support levels are 72 thousand dollars and 66 thousand dollars.

The declining momentum is also highlighted as the price remains less than the fifty and 200 moving averages. In addition, the relative strength index is $ 39, which means it is slightly higher than the sales zone, and the price can decrease before any change in the momentum.

BTCUSD, Source: Tradingview

Bitcoin mining, which is a major scale on the chain, continues to rise despite the market correction, according to data from Cryptoquant, indicating that miners remain confident in the long -term currency course.

What is the following for Bitcoin?

Bitcoin’s path is likely to be affected in the short term on macroeconomic conditions, including trade war developments and broader market morale. The market monitors whether Bitcoin can bear higher than the main support levels or if the correction is deeper in the store.

While fluctuations are still, long -term basics, including increased institutional adoption and mining flexibility, indicate that the bull bitcoin cycle has not yet ended. However, investors may need to be ready for more disturbances before the next main gathering.