Bitcoin’s price has dropped to $81,000 in nine months, leading to billions of dollars in sales over the last day. The fall was caused by escalating tensions across the Middle East as well as the latest tariff threats from US President Donald Trump.
BitcoinBTCIn early Friday trading, the price of ) dropped to an all-time low of $81 058 at Coinbase. lowest point From April according TradingView. This cryptocurrency is down 35% from the all-time peak of 126,000 dollars in October.
CoinGlass data The data shows that 270,000 traders have been liquidated over the last 24 hours. This totals $1.68 Billion. The vast majority (93%) of the liquidations were leveraged long positions, predominantly BTC and Ether.ETH).
Bitcoin has now reached a critical support area on the monthly chart, after hitting a low of nine months. In the last 24-hours, $200 billion has been wiped off of the total market capitalization due to a larger crypto-market crash.
The markets are tanked by tensions geopolitical and tariffs
Trump has stated that he intends to talk with Tehran. The US sent another warship into the Middle East as tensions between the US and Iran are rising.
“We have a lot of very big, very powerful ships sailing to Iran right now, and it would be great if we didn’t have to use them,” Trump told reporters Thursday.
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Trump has also signed an executive directive on Thursday, which imposes tariffs against any products from nations that provide or sell oil to Cuba. The move is causing additional concern among traders.
Gold sold off With a decline of 9% since the all-time record high price per ounce, $5,600, on Thursday, silver’s correction is 11.5%.
Selloffs fueled by tech earnings, AI fears and market concerns
Jeff Mei is the chief operating officer of BTSE and believes that tech revenue numbers were disappointing.
“Last night’s market dip had a clear correlation to Microsoft’s earnings flop,” He told Cointelegraph.
Microsoft shares plunged by 10% Thursday, their steepest decline in a single day since March 2020. The stock fell after Microsoft announced record spending as well as a slowdown in cloud revenue growth.
“Investors are worried that a broader pullback in AI-related tech stocks will affect the market as a whole, and some are derisking their portfolios,” He said.
“We think the dip was relatively overblown as cryptocurrencies have already declined since October, and that Bitcoin and other cryptocurrencies remain at an attractive price with limited downside.”
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Source: cointelegraph.com
