The post Why is Bitcoin (BTC) Price Crashing? appeared first on Coinpedia Fintech News
After the tariff announcement by United States President Donald Trump, the overall cryptocurrency market witnessed a massive sell-off. Amid this, Bitcoin (BTC), the world’s largest cryptocurrency by market cap, sank over 6%, turned bearish, and is now poised for a significant price decline.
Why is Bitcoin Price Crashing?
The potential reason for the market sell-off is the tariff announcement, under which major countries will now face a 10% tariff, while China, the EU, and Japan will face tariffs of 34%, 20%, and 24%, respectively.
Following this development, BTC has lost its recent support, which it formed during the market uncertainty.
Bitcoin Technical Analysis and Upcoming Level
According to expert technical analysis, BTC has recently lost the $82,500 support level and has fallen below the 200-day Exponential Moving Average (EMA), indicating that the asset is entering a strong b
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