NEWSLETTER
bitcoin (btc) returned to $ 85,000 at the Open Wall Street Open on February 27 as the markets digested the confirmation of the new commercial rates of the United States.
btc/USD Table 1 hour. Source: cointelegraph/tradingView
btc Price is sold when Trump says that tariffs will continue
Co -Intelegraph Markets Pro and Commercial view btc/USD showed from a relief rebound to $ 87,000 in the day.
This had followed a trip to new minimums of 15 weeks about $ 82,000 in the daily closure, with bulls once again he was without force when the president of the United States, Donald Trump, doubled the tariffs against Canada and Mexico.
To begin on March 4, these “in fact, will come into force, as scheduled,” Trump wrote in a publication about Social truth.
Both the S&P 500 compound index and Nasdaq opened as a result, while the US dollar index (DXY) won 0.6% to cancel more than a week of inconvenience.
US dollar index (DXY) 1 hour graph. Source: cointelegraph/tradingView
Reacting, the Kobeissi Charter's letter attributed the low performance of the btc price to the correlation of higher shares and a reduced liquidity.
“Ironically, much of that returns to the US dollar,” he wrote in a <a target="_blank" data-ct-non-breakable="null" href="https://x.com/KobeissiLetter/status/1895105168342991348″ rel=”null” target=”null” text=”null” title=”null”>Dedicated x thread on the subject.
“The US dollar becomes the 'safer risk asset' during commercial wars because it is the most 'stable' currency.”
Total graph of cryptography market capitalization. Source: Kobeissi/x letter
Kobeissi added that they were mostly smaller investors for exit, which represents the record outputs of the funds quoted in bitcoin bitcoin of the USA. UU.
“The bitcoin ETFs have now seen 6 consecutive daily retreats, for a total of $ 2.1 billion. Most retreats were taken by retail investors, ”he confirmed.
“Liquidity has fallen.”
bitcoin Host Monthly Close “is not seen well”
Meanwhile, bitcoin merchants sought to identify possible definitive investment areas for btc/USD.
Related: The short -term crypto merchants sent a 79.3k bitcoin record to exchanges, since btc was blocked at $ 86k
As Cointegraph reported, a “gap” in the bitcoin futures market of CME Group is currently a popular objective.
“bitcoin seems determined to close that November CME gap, $ 77,360, which could be intersected with the September 2023, the popular merchant Justin Bennett <a target="_blank" data-ct-non-breakable="null" href="https://x.com/JustinBennettFX/status/1895124599580283155″ rel=”null” target=”null” text=”null” title=”null”>continued On the subject along with an illustrative table.
“Probably a little relief in March from this area, but the monthly chart looks Toppy unless $ btc can miraculously close February above $ 92K. Probabilities do not look good. “
$ 92,000 previously marked the aggregate cost base for bitcoin speculators, being part of the floor of a three -month negotiation range.
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
