Swan Bitcoin CEO Cory Klippsten said the volatility of Bitcoin price may not be over after a short cryptocurrency fell to $ 102,000 on Friday, following US President Donald Trump’s announcement of a 100% tariff on Chinese imports.
“If the wider risk-off condition holds, Bitcoin can be dragged around a little before it finds support and starts decouple again,” Klippsten told Cointelegraph on Friday.
Klippsten said Bitcoiners should expect some chaos in the coming days. “Macro-driven dips like these usually wash entrepreneurs and weak hands, then reset the positioning for the next leg,” Klippsten said.
$ 8 Billion eliminated in the crypto market
In the past 24 hours, around $ 2.19 billion in Bitcoin (Btc) Long positions have been -liquidated, contributing to a total of $ 8.02 billion in long fluids across the wider crypto market, According to In coinglass.
“We have a little shock in the markets today, the classic Macro Whiplash. Trump and China are trading trading threats, equality are turned off, and entrepreneurs have scrambled to Derisk,” Klippsten added.
Cointelegraph’s head of cointelegraph market Ray Salmond said the entrepreneurs “have been fully caught on the guard” as Trump’s tariff announced that “sent shockwaves throughout the crypto market.”
Salmond explained that the dislocation of the bitcoin price between the Coinbase Coinbase’s crypto exchange, where the BTC/USD pair fell to $ 107,000 and and the Crypto Exchange pair continued futures, where the severity of cascading fluids and how the stops were completely recovered. “
Salmond pointed to Heatmap heat data from Hyblock, showing “literally all long -absorbed liquidity, with a cluster of extermination of $ 102,000 to $ 97,000 left.”
This is not the first time Bitcoin has fallen hard after a Trump tariff announcement. In April, Trump First tariff announcements Sent shockwaves through crypto markets and sparks fears in a backward.
In Feb.
Bitcoin analysts remain optimistic
Many Bitcoin analysts say that the latest price collapse can show a purchase opportunity.
Bitwise invest senior investment strategist Juan Leon Says In an X post “The best time to buy BTC is likely to be when it is dragged by the wider market.”
Related: Bitcoin Mayer Multiple: The BTC price can hit $ 180k before becoming ‘overbought’
Meanwhile, Bitwise Invest Chief Investment Officer Matt Hougan Remind His 85,900 X followers of a typical pattern of market participants, noticing that while many say they will buy Bitcoin during a pullback price, they often hesitate when this happens because “the market doesn’t ‘feel’ good at that point.”
“It doesn’t feel good when you buy sinking. Sinking comes when emotion falls. Writing a number can be a great form of discipline,” Hougs said.
Magazine: Delayed
