bitcoin Faces Potential Price Dip Amid Tariff Concerns and Regulatory Delays
Bitcoinâs price may be reaching a peak due to recent market reactions. Traders are responding to Trumpâs tariff plans and potential regulatory delays, according to Matrixport, a Singapore-based blockchain firm.
Institutional trading is increasingly influencing Bitcoinâs (BTC) price movements. Wall Streetâs growing involvement is a key factor. Bitcoin still holds a market dominance of 60%, making it a crucial benchmark for crypto traders.
However, there are concerns. Trumpâs proposed tariffs and a possible six-month delay in the Bitcoin Strategic Reserve consultation could lead to a âtechnical topping formation,â Matrixport warns. The price of Bitcoin might fall to its next support level at $73,000.
Currently, Bitcoin trades at $88,290.Recently, it briefly dipped to $86,099, causing a $1.06 billion loss across the crypto market. Long positions were hit the hardest, losing $873 million.
Data from CoinGlass reveals that over 220,000 traders faced liquidation as prices fell. Open interest dropped by 5%, indicating traders are pulling back. Exchange inflows surged by 14.2%, suggesting panic selling.
Spot Bitcoin exchange-traded funds saw important outflows, with $1.1 billion leaving over five days. Crypto stocks also declined.Coinbase (COIN) fell by 6.4%, Robinhood (HOOD) by 8%, and Bitcoin miners Bitdeer (BTDR) and Marathon Digital (MARA) lost 29% and 9%, respectively.
