- Bitcoin nears $90K amid unverified tariff news.
- Market shows caution with macro volatility.
- Ethereum and altcoins see mixed reactions.
Bitcoin dipped near $90,000โ$92,000 following reports of U.S. President Donald Trump announcing tariffs on countries trading with Iran. Analysts suggest fading options interest and macro volatility are driving this near-term consolidation.
Bitcoinโs price has slipped to just under $90,000 after unconfirmed reports indicated U.S. President Donald Trump announced new tariffs on countries trading with Iran, causing widespread market speculation.
Analysts suggest the alleged tariff announcement has prompted investors to react cautiously, with Bitcoin consolidation observed in the $90,000 range due to geopolitical tensions.
Market Reactions and Analysis
Recent reports indicate that Bitcoinโs price fell in response to unverified claims that President Trump announced a 25% tariff on nations trading with Iran. The cryptocurrency struggled against strong resistance near $90,000. No official confirmation from primary sources supports the tariff news. Joel Kruger, strategist at LMAX, noted heightened volatility from economic data and geopolitical dynamics influencing Bitcoin and Ethereumโs movements.
Impact on Cryptocurrencies
Analytical insights suggest macroeconomic factors are causing significant shifts in cryptocurrency markets. Vikram Subburaj, CEO of Giottus, attributed Bitcoinโs consolidation to the uncertainty stemming from the alleged tariffs and recent ETF inflows. Market responses include Bitcoin near $91,000, while Ethereum dipped by 0.75โ2.80%.
โMacro volatility is dictating BTC/ETH breakouts amid rising geopolitical tensions.โ โ Joel Kruger, Strategist, LMAX
Many cryptocurrencies experienced price changes, with privacy coins like Dash and Monero seeing gains. Others, such as XRP and Cardano, faced declines exceeding 2%. Historical trends suggest that similar geopolitical tensions have previously impacted Bitcoinโs value, influencing its stability and regulatory landscape. Experts emphasize that without primary confirmations, market shifts remain speculative.
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