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Coin Telegraph

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Image Credit: Coin Telegraph

Why is Bitcoin price down today?

  • Bitcoin's price has dropped by over 2.5% to $85,100 due to Trump's latest tariffs and unfavorable macroeconomic conditions.
  • The drop in Bitcoin price is aligned with the decline in the broader risk-on market, including the drop in US stocks.
  • President Trump's announcement of a 25% tariff on imported automobiles has raised concerns about trade tensions and a potential trade war.
  • Bitcoin traders brace for a potential pullback to the sub-$80K range, with some analysts warning of a retest of support levels.

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