“Macro Concerns, Mainly Tariff-Related, Overshadow Trump’s Crypto AnnounCements, One Oberver Noted.”, – WRITE: www.coindesk.com
The Leading Cryptocurrency by Market Value Slipped Over 3% to $ 83.200, Testing The 200-Day Simple MOVING AVERAGE (SMA), Accounting To Coindesk and Trading. PRICES HAVE DROPPED Over 10% Since Putting Highs Above $ 92.800 Thursday.
The Latest Decline Comes As Trade Tensions Between the US and China are set to escalate on monday. Beijing Will Levy Tariffs on Certain US Agricultural Goods in Retaliation for President Donald Trump’s Latest Hike on Chinese Imports. The Tariff War Has Injected Significant Uncertainty in the Market and for Policymakers.
On Friday, Federal Reserve Chairman Jerome Powell Reaffirmed that Central Bank Will Mainten Its Cautiooos Stance on Interest Rates While Assessing The Economic Impact of President The Comments Came on the Heels of A Soft US Nonfarm Payrolls Report and Expectations for at Least Three Fed Rate Cuts this year.
Accorging to observers, Tese Developments, Coupled with Recessionary Signals from the Bond Market, Are Taking Focus Away from Trump’s Recent of Announcement of a Strategic Btc.
“DESPITE The VERY POSITIVE NEWS, BITCOIN FELL 4% FROM $ 90,000 to Under $ 87,000 in Hours. IT Appears Focus on Trump’s Analytics FIRM INTOTHEBLOCK SAID IN THE WEEKLY NEWSLETER TO SUBSCRIBERS FRIDAY.
The FIRM ADDED that Macro Concerns, Mainly Tariff-Related, Have Been Pushing Down Markets, Noting The Strengthaning Positive Correlation Between Bitcoin, Ether and Us Stocks.
“Further Actions Like Trump Stating He’s Not Even Looking at the Stock Market, and His Adminstruction Targeting Lower Long-Term Interest Rates Insthead, Suggest That Invistor Expectration The Firm Said.
Noelle Acheson, The Author of Crypto Is Macro Now, SAID IN SATURDAY’S EDITION THAT BTC’S DOUR PRICE ACTION IN THE WAKE OF The Strategic Stockpil Crypto Assets. ”
BTC’s Daily Chart. (TradingView/Coindesk)
The Chart Shows Buyers Steped in Below The 200-Day Sma on Feb. 28 and March 2, Leading to A Price Boness. The Market Will Likely Keep An Eye on this Level to See if IF Traders DO SAME AGAIN.
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