The cryptocurrencies They continue without finding enough support to reverse the recent falls. Bitcoin (BTC) loses about 0.2% in the last 24 hours and Round the US $ 83,900according to the price of Binanceafter have touched minimums close to US $ 82,000 in the previous session.
Seller pressure affects most digital assets. Ethereum (Eth), the main altcoin of the market, goes back more than 3% and moves around U $ 2,300. Meanwhile, other tokens such as Solana (Sol) and Dogecoin (Doge) They register slight earnings.
According to analysts, The weakness in the institutional demand of both Bitcoin and Ethereum is evident in the CME futures marketwhere the conditions of ‘backwardation’ begin to emerge. This phenomenon occurs when futures contracts are negotiated at a lower price than the asset in the market in cash, a sign of a lower demand or expectations of greater offer in the future.
Capital output flows of the Bitcoin quoted (ETF) funds reinforce this perception. Only yesterday, the Blackrock Ibit registered record remote retreats of 418.1 million dollars, according to Farside Investors data. In total, net outings amounted to $ 754.6 million in the day, accumulating more than 3.3 billion dollars since February.
The factors that press the market
Among the factors that press the market, experts include the recent commercial policy decisions of Donald Trump. The US president announced 25% tariffs on imports from the European Union, a measure that, in his words, will be implemented “very soon.” “They will affect cars and everything else”he declared after a meeting with his cabinet.
The cryptocurrencies reacted with strong falls after each tariff ad. First happened con Confirmation that tariffs to Canada and Mexico will enter into force in March, and now uncertainty about new chips exports restrictions to Chips to Chips. These decisions have generated concern in the markets, since they could complicate the expectations of cuts in interest rates by the Federal Reserve (Fed).
Bitcoin approaches Trump’s victory in the November presidential elections. The market had opted for a more favorable administration to the crypto industry, but so far it has not seen clear signs of support. Naeem Aslam, Investment Director of Zaye Capital Markets, summarizes the generalized sensation: “Trump was expected to be an ally for cryptocurrencies, but the current panorama suggests otherwise.”
Now, attention focuses on the personal consumption expenses index (PCE), the inflation indicator preferred by the Fed, which will be published tomorrow. A favorable reading could reinforce expectations of cuts in interest rates, promoting risk assets. However, Noelle Acheson, author of the newsletter ‘Crypto Is Macro Now’, warns that a lower PCE could also be interpreted negatively, reflecting a slowdown in economic growth.
“This pessimistic climate is driven by macroeconomic factors, including tariffs, corporate assessments and exposure to the artificial intelligence sector,” Explain.
Despite uncertainty, Acheson points out that Bitcoin could stabilize soon thanks to his double role as a risk asset and refuge. “At some point, long -term investors will find an attractive price to enter, which in turn will encourage the return of the traders,” he says.
From the technical analysis, 10x Research warns that Bitcoin could descend to US $ 70,000 if you lose the key support of US $ S82,000. This level is the average price to which short -term holders acquired BTC in the last 155 days, which suggests an important demand zone. “Historically, BTC does not usually quote below this threshold in upward markets for prolonged periods. If the consolidation pattern of 2024 remains, we could see a fall to $ 82,000 before a possible rebound, ”the experts conclude.
Source: Ambito
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