“Overall Crypto Market Capitalization FELL 8% to $ 2.7 Trillion, Reversing All Advances Since Republican Donald Trump Was Electrated US President in Early November.”, – WRITE: www.coindesk.com
Bitcoin (BTC) Droped 7% to Near $ 79,000 for The FIRST TIME SINCE November, Down Nearly 30% Since ITS JANUARY PEAK OF ABOVE $ 108,000. ETHER (ETH), Cardano’s Ada and Bnb Chain’s Bnb Showed Similar Wees with A Slide of at Least 9%.
Overall Market Capitalization Fell 8% to $ 2.7 Trillion, Reversing All Advances Since US President Donald Trump Was Electrated in Early November. The Broad-Based Coindesk 20 (CD20) Dropped Nearly 9%.
A Solid Earnings from Nvidia on Wednesday Was Not Enough To Offset The Onsetting Market Gloom as Global Equities Falted on a Combination of Renewed Tariff Conceerns WHICH HAS NATURALY SPLLED OVER to Crypto Given Btc’s High Correlation with The S&P 500 Index, Traders Say.
“ON A YTD BASIS, Ex-Btc Tokens and Trading Sentiment Have Strugmed Mightly With Liquidity Being Dam High Last Week, ”Augustine Fan, Head of Insights at Signalplus, Told Coindesk in A Telegram Message.
Friday’s Losses in Crypto Markets Mirrored Those of Chinese Stocks, WHICH SLUMPED AFTER TRUMP Announced A NEW 10% TARIFF on Chinese Imports. This Aded to Worries About A Growing Trade War Between the US and China, The World’s Two Largest Economies.
The New Tariff Adds to An Existation 10% Tax On Chinese Goods that Started Earlier this month. This Could Hurt China’s Economy, Which Faces A Property Crisis and Falling Prices. IT MIGHT ALSO STOP A STOCK MARKET Rise Fueled by China’s AI Advances – Led by Chatgpt Rival Deeeppesek.
The Move ComESS AHEAD OF CHINA’S BIG ANNUAL MEETING, The National People’s Congress, Starting Next Week, WHERE LEADERS ARE EXPECTED TO Share Economic Plans and Growth Goals.
A Decision of China to Spend More or Encouroge Buying to Boost The Economy Could Impact Bitcoin and Crypto Prices and Serve As A Market Catalyst – Making It A KEY DATA DATA DATA POINTA.
However, The Mood Remains Bearish Among Some Bitcoin Traders Until Ten.
“Bullish Option Speculators Are Throwing in the Towel As Well, With Volatility Coming Lower Against A Lower Spot Price As Calls Are Being Dumped In Favor of Puts,“ Signalplus’ Fan Said.
“Finally, Concerns Over Mstr (-10%) are adding an extra element of Risk to btc, Given their convertible funced buying, Putting Bearish Sentiment at a Near-Term.
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