Analyst: Due to renewed concerns about US tariffs in the market, demand for the dollar has increased, causing Bitcoin to fall below 80,000 dollars
According to a report by Golden Finance, Coindesk analyst Omkar Godbole stated that Bitcoin (BTC) fell below the SMA200 moving average line on Friday, with a weekly decline of 16%. Due to renewed concerns about US tariffs, demand for the dollar increased and Bitcoin prices briefly fell below $80,000 for the first time since November 10.
Trump said on Thursday that he plans to impose tariffs on Canada and Mexico from March 4th while doubling the general tariff of 10% imposed on Chinese imported goods. ING Group stated in a report to clients on Thursday: "We expect US tariffs will once again become a focus and drive the dollar higher." The dollar index rose to 107.30, continuing its rebound trend from near Wednesday's low point of 106.15.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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