Bitcoin (BTC) Bears sought to penetrate the key support on Sunday, extending a three-day losing streak as macroeconomic concerns eclipsed the recent ads related to the Cristto-written of President Donald Trump.
The leading cryptocurrency by market value fell more than 3% to $ 83,200, testing the simple 200 -day mobile average (SMA), according to Coindesk and TrainingView data. Prices have fallen more than 10% since it could increase the maximums above $ 92,800 on Thursday.
The last decrease occurs when commercial tensions between the United States and China will intensify on Monday. Beijing will impose tariffs on certain agricultural assets of the United States in retaliation for the last increase of President Donald Trump about Chinese imports. The tariff war has injected significant uncertainty in the market and for policy formulators.
On Friday, the president of the Federal Reserve, Jerome Powell, reaffirmed that the Central Bank will maintain its cautious position on interest rates while evaluating the economic impact of the policy changes of President Donald Trump. The comments arrived immediately after a soft report of non -agricultural payroll and expectations for at least three Fed rates cuts this year.
According to the observers, these developments, together with the recession signs of the bond market, are moving away the recent Trump announcement of a strategic BTC reserve.
“Despite the very positive news, Bitcoin fell 4% of $ 90,000 to less than $ 87,000 in hours. It seems that the focus on Trump’s cryptographic actions is increasingly secondary as the fears of the War War accelerate,” said the Intotheblock analysis firm in the weekly newsletter to the subscribers on Friday.
The firm added that macro concerns, mainly related to the rate, have been pressing the markets, noting that the strengthening of the positive correlation between the actions of Bitcoin, Ether and the US. UU.
“Other actions such as Trump claim that he is not even looking at the stock market, and his administration aimed at lower long -term interest rates, they suggest that the expectations of the investors of a Trump upward market may have been too anxious,” said the firm.
Noelle Acheson, the author of Crypto Is Macro Now, said in the Saturday edition that the BTC price action following the strategic announcement of reserves “underlines how macro concerns still weigh heavy in cryptographic assets.”
The picture shows that the buyers in the 200 -day SMA in February 28 and March 2, which leads to a price bouncing. The market is likely to be attentive to this level to see if merchants do the same again.
