Bitcoin reached a hollow of three weeks early on Friday, while investors reacted to the massive executive decree of Donald Trump on commercial prices, which sparked a generalized sale on the equity and crypto markets.
In short
- Bitcoin fell to $ 114,250, its lowest price since June 11, after Trump's new prices sparked an uncertainty on the market.
- More than $ 630 million in long positions were liquidated in 24 hours while $ 110 billion came out of the Spot markets.
- Despite the decline, Bitcoin closed July with its highest monthly candle ever reached at $ 115,784.
What's going on?
Bitcoin dropped $ 114,250 on Coinbase during trading hours in Asia, its lowest point since June 11, before straightening slightly. This drop made Bitcoin drop by 6.5 % from its highest historic July 14 to $ 122,800, and well below the $ 115,000 for $ 118,000 for a large part of the last three weeks.
The decline occurred Following Trump's announcement Thursday evening, in which he formalized a new series of prices aimed at Canada, Switzerland, Taiwan, Thailand and others. Although the White House has concluded agreements finalized with key allies such as the EU, Japan and the United Kingdom, the markets were shaken by uncertainty surrounding the wider commercial agenda. Nick Ruck, director at LVRG Research, said:
The drop in the market this week reflects a mixture of fears related to the approach of the deadline for customs prices and a wider macroeconomic uncertainty. Although these prices have contributed to withdrawal, the fall was probably exacerbated by profits after recent historical heights (ATH), persistent geopolitical tensions and macroeconomic uncertainty in the United States.
$ 630 million in liquidations
According to CorciLass, the sudden movement liquidated more than 158,000 traders in 24 hours, totaling $ 630 million in losses, mainly on long positions. The sale also coincided with the release of $ 110 billion in capital Crypto market in just 12 hours.
Analysts are now looking at $ 111,000 like the next major support area. A break below could send Bitcoin to a deeper correction territory, although many remain optimistic that this movement is healthy cooling after months of earnings. Henrik Andresson, CIO at Apollo Capital, said:
If an agreement with China can be concluded, this would remove a large part of the current uncertainty. Until then, we are likely to see more volatility on risky assets.
A mixed macro week
Ironically, the news of the prices occurs a few days after the White House published a pro-Crypto report, largely perceived as a favorable wind for the space of digital assets. And despite the short -term turbulence, Bitcoin still recorded its highest monthly candle fence ever reached in July, ending at $ 115,784. That said, it was not the biggest monthly gain recorded. This title returned to November 2024, when Bitcoin jumped $ 26,000 in a single month after Trump's electoral victory.
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