Bitcoin and Crypto Slide Sharply After Shocking Trump Comments

Trump : A Volatile Market Shaken by Geopolitical Turbulence

Following President Donald Trump and his recent threats against the Iranian leader, the cryptocurrency market experienced a sharp decline, once again demonstrating its sensitivity to macroeconomic factors.

Summary of the impact of Trump statements:

• The Bitcoin and the entire crypto market dropped following Trump’s comments, where he claimed to know the hiding place of the Iranian “supreme leader” and have him in his sights.
• Bitcoin notably lost over $700 in one hour, dropping from $104,310 to $103,553, before recovering to $105,000 today.
• Ether and XRP also experienced significant declines of over 1%.
• The crypto investors’ “fear and greed” index shifted from “Greed” to “Neutral,” signaling a sharp decline in confidence.

This is not the first time Trump’s statements have influenced the cryptocurrency market, especially since his return to the White House in early 2023. In February, his trade decisions concerning China, Canada, and Mexico had already caused Bitcoin to drop below the $100,000 mark.

Some analysts believe that the current geopolitical situation could lead Bitcoin to retest the psychological level of $100,000-$102,000.

Outlook for Bitcoin and Other Cryptocurrencies

Although Bitcoin has managed to stay above $100,000 recently, analysts remain cautious about its ability to sustain it. Some forecast an imminent drop below this threshold, while others believe its maintenance paves the way for a stronger bullish trend.

Investors must stay alert to market volatility and support levels between $101,500 and $103,000.

The MVRV Pricing Bands for short-term holders indicate a median support at $98,000, representing their average purchase price. This zone may be tested. However, Bitcoin continues to attract significant institutional investments that absorb sales.

The strong liquidity above $102,000 should hold, despite the tumultuous statements and actions of the US President.

The recent market turmoil in the crypto space highlights how digital assets remain sensitive to global geopolitical events. Informed investors must equip themselves with patience and thorough analysis to navigate successfully in this tense environment.

More on this topic :

• Bitcoin at Critical Support : Will It Hold or Trigger a Major Drop ?
• FARTCOIN Drops 10% in Hours : What’s Fueling the Sell-Off ?
• Breaking News : Meta Pool Protocol Hacked for $132,000 – Stay Informed !