The world’s largest cryptocurrency, Bitcoin, is experiencing a decline again, according to the latest data.
BTC ($86,043.10) price has dropped by approximately 1.50% in the last hour.
Chart with minute candles showing the decline in BTC price.The reason for the decline is thought to be US President Donald Trump’s announcement that he will continue to increase customs duties on other countries, in addition to the 25% customs duty imposed on the European Union. Both developments came to the fore quite recently and occurred simultaneously with the recent decline in the Bitcoin price.
There are views that Trump’s tariffs will fuel inflation in the US and cause interest rates to remain high for longer. Along with the cryptocurrency market, traditional markets such as gold are also experiencing declines.
With the election of cryptocurrency lover Donald Trump as President, the Bitcoin price entered a bull cycle and exceeded $ 100,000. However, Trump has been putting pressure on the cryptocurrency market with his statements recently. The fact that the president has not yet kept his promises, such as the strategic BTC reserve, also worries cryptocurrency participants.
With the increase in volatility, there has also been a large amount of liquidation in the crypto market. In the last 24 hours, $376 million was liquidated across all cryptocurrencies, $238 million of which was in long positions.
*This is not investment advice.
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