The long -awaited Crypto Bull Run will stagger after a surprising announcement by President Donald Trump. During a press conference with French President Emmanuel Macron, Trump threw oil on the fire with new import duties, which caused a wave of uncertainty in the financial markets. The impact? Investors are looking for the exit en masse, whereby the crypto sector is also hit hard. Bitcoin and Altcoins have to endure heavy blows and the fear is growing that this can mean the end of the current Bull Run.
What causes the sales wave?
This massive sale seems to be triggered by Donald Trumps announcement of an input tax of 25% on goods from Canada and Mexico. During a joint press conference with French President Emmanuel Macron on 24 February, Trump underlined his hard trade policy, which caused unrest in the financial markets.
The S&P 500 got a slap of 2.3% in the past five trading days, while the Nasdaq Composite even dived in the minus 4%.
This caused panic among investors, which led to a sales wave that also dragged the crypto market. In the last 24 hours, Bitcoin (BTC) fell by 7.2% and broke through the $ 89,000 limit. The currency is now traded for $ 88,982, which increases the uncertainty on the market.
Ethereum (ETH) got an even harder blow and lost 9.71%. The rate dropped to $ 2,426, a level that, according to analysts, increases the risk of further falls. XRP did even worse and plummeted 10.97% to $ 2.21.
No less than $ 1.48 billion in positions were liquidated in the last 24 hours.
Crypto market falters
The crypto world balances on the edge. Uncertainty in the financial markets presses the prices. Binance reinforces the negative sentiment with the recent sale of large quantities of Ethereum, Solana (SOL) and Trump. If the world’s greatest exchange dumps such positions, that is rarely a good sign. The fear of a long -term correction is growing.
Yet it is not yet a lost cause. Bitcoin must remain hanging above $ 85,000, a crucial level where institutional parties may be able to serve as a lifebuoy. Michael Saylor’s MicroStrategy seems to be little worried about that. The company recently resigned $ 1.99 billion for 20,356 BTC, at an average price of $ 97,514 each. With that, their total ownership is now ticking the 499,096 BTC, purchased for $ 33.1 billion at an average price of $ 66,357.
Will other major players continue to buy? Then that can give the market a new impulse. But the danger of persistent sales pressure and a disappointing macroeconomic climate remains. In that scenario, Bitcoin could sink into a long consolidation phase, while altcoins go further down.
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Source: https://newsbit.nl/is-dit-het-einde-van-de-crypto-bull-run/
