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📉Bitcoin decreased by 2.55% in 24 hours - what is behind this move?
Bitcoin
The cryptocurrency has declined to \~\ $107K, losing 2.55% in the past twenty-four hours - here are the three main reasons ( based on insights gathered through the new CMC AI by CoinMarketCap):
1️⃣Trump's tariff shock
On May 23, Donald Trump announced a 50% tariff on imports from the European Union. This raised concerns about global trade again, prompting a risk-averse approach - similar to the 6.5% drop in Bitcoin's value in April during the previous tensions over tariffs.
2️⃣ artistic resistance
Bitcoin failed to break the $110,000 level ( Fibonacci target at 127.2% is at $117,485 ). The 14-day Relative Strength Index has dropped to 63.3, indicating weakening momentum.
Approximately 544 million dollars in long liquidations occurred between 106,000 and 109,000 dollars.