Bitcoin’s Wild Ride: Wall Street’s Influence and Trump’s Tariffs

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Ladies and gentlemen, gather ’round for the thrilling tale of Bitcoin‘s latest rollercoaster ride! 🎢

As the world’s most famous cryptocurrency continues to make headlines, it seems that even the mighty Bitcoin isn’t immune to the whims of world leaders and Wall Street wizards. 😲

According to a report by Singapore-based blockchain firm Matrixport, institutional trading is playing a bigger role in Bitcoin’s price moves, with Wall Street’s influence growing. 🏦

Today’s #Matrixport – Feb 26 2025
Wall Street’s Influence on #Bitcoin: Key Levels to Watch#Crypto #BTC #BTCETF #CryptoMarket @BlackRock

But wait, there’s more! Concerns over Trump’s proposed tariffs and a possible six-month delay in the Bitcoin Strategic Reserve consultation may have contributed to a “technical topping formation,” Matrixport says. 😱

On the technical side, the price of Bitcoin could drop to its next support level at $73,000, per the analysts. As of press time, Bitcoin is trading at $88,290. 📉

Data from CoinGlass shows that more than 220,000 traders have been liquidated as prices tumbled, while open interest slipped 5%, suggesting traders are pulling back. Exchange inflows have also surged 14.2%, possibly signaling panic selling. 😱

Spot Bitcoin exchange-traded funds also saw big outflows, with $1.1 billion leaving over five days, including $516 million on Feb. 24 alone. Crypto stocks followed the slide — Coinbase (COIN) dropped 6.4%, Robinhood (HOOD) fell 8%, and Bitcoin miners Bitdeer (BTDR) and Marathon Digital (MARA) lost 29% and 9%, respectively. 📉

So, there you have it, folks! The wild world of Bitcoin, where even the slightest hint of a tariff or regulatory delay can send prices tumbling. 😵‍💨

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2025-02-26 11:54