Bitcoin retreats to $85K as US confirms March Canada, Mexico tariffs

Bitcoin (BTC) to $ 85,000 on February 27, Wall Street, with the market confirmation of the new American commercial tariffs.

The BTC price is sold, as Trump says, the customs duties will proceed

Data from Cointelegraph Markets Pro and Tradingvief BTC/USD again shown from relief reflux to $ 87,000 a day.

This has followed a trip to its lowest level for 15 weeks near 82,000 dollars in The Daily Close, with Bulls run out again from Steam, as US President Donald Trump doubled the customs duties against Canada and Mexico.

It is scheduled to start on March 4, this “will, in fact, comes into effect, as it is specific”, Trump wrote in a publication on Social truth.

The S&P 500 and the complex NASDAQ are opened as a result, while the US dollar index (DXY) has gained 0.6 % to cancel more than a week from the negative side.

The reaction, the trading supplier, Kobeissi letter, has attributed the poor BTC price to the highest shares and reduce liquidity.

Ironically, many of it flows to the US dollar, “he wrote in A. X thread dedicated On the topic.

“The US dollar becomes” the most risky assets “during commercial wars because it is the most stable currency.”

Kubisi added that he was mostly smaller investors rushing to go out, as the flow of records from Bitcoin exchange boxes in the United States (ETFS).

“Incal funds in Bitcoin now witnessed 6 -Straight daily withdrawals, which total $ 2.1 billion. This confirmed that the majority of withdrawals by retailers.

“Liquidity decreased.”

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Meanwhile, Bitcoin traders sought to identify the potentially possible areas of BTC/USD.

Related to: Short -term encryption traditions have sent the 79.3k bitcoin record for exchanges with BTC drop to 86 thousand dollars

As Cointelegraph mentioned, “GAP” in the Bitcoin Futures market in CME Group is currently a common goal.

“Bitcoin seems to be designed to close $ 7,7360 from November CME GAP, which can intersect with the trend line in September 2023,” continued On the subject, along with an illustrative scheme.

“Perhaps some relief in March in this field, but it seems that the monthly chart Topby unless $ BTC can close February miraculously closing over 92 thousand dollars. The possibilities do not look good.”

92,000 dollars has been marked at the total cost of Bitcoin speculators, which is part of the three -month trading floor.

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