Why is Bitcoin price down today?

The price of Bitcoin (BTC) has decreased by more than 5 % over the past 24 hours to 88100 dollars after the failure of the Bitcoin Strategic Reserve in the United States, Donald Trump, to meet expectations.

Main meals:

• Bitcoin's decrease follows US President Donald Trump's declaration of Bitcoin strategic reserves.

• More external flows from Spot Bitcoin Etfs.

• Bitcoin price should be higher than the main support area to avoid deeper correction.

Bitcoin strategic reserve retains retreat

Bitcoin and the collective encryption market have been negatively to the direction of US President Trump to create the Bitcoin Reserve and prepare a separate coding stock.

Main meals:

• On March 7, the US President signed an executive order to create a strategic bitcoin reserve.

• Market participants expected the government to announce a plan to purchase more bitcoin using taxpayer funds or treasury resources.

• Instead, the BTC reserve will consist of the government already seized, according to Crypto CZAR DAVID SACKS.

• In the publication of March 7 on x bags He said:

“The reserve will be obtained with Bitcoin owned by the federal government that has been confiscated as part of the procedures for confiscating criminal or civil assets. This means that the taxpayer will not cost ten cents.”

• However, the government will develop strategies to gain more BTC through budget neutral strategies.

• However, these delightful hopes of immediate fresh capital flows in the Bitcoin market.

• This conservative approach was disappointed with the disappointment of the merchants who expected a more upward incentive, such as approval of the investment funds circulating in Bitcoin in January last year.

• Bitcoin responded to these developments with a decrease in the price of 8.7 % of a height of 92,790 dollars on March 6 to the lowest level during the day 84,700 dollars on March 7.

“Bitcoin falls sharply after President Trump has signed an executive thing that creates a strategic reserve for bitcoin,” He said Capital Markets Chepator The Kobeissi Letter.

“This is because there is no explanation about how to finance the reserve, regardless of the US bitcoin, which is already retained by the United States. It is simply a promise not to sell what it currently holds.”

Bitcoin ETFS spot less than $ 3.8 billion in two weeks

The huge external flows of the instant bitcoin boxes have preceded the slow performance of BTC over the past 24 hours.

Main points:

• Over the past 14 days, the sharp -ranging Habbiyah price movement has moved on the demand for investment funds circulating in Al -Fawiya, which prompted the total external flows to about $ 3.87 billion.

• On February 25, Spot Bitcoin Etfs witnessed a huge amount of $ 1.14 billion in external flows, the largest withdrawal for one day since the presentation of the circulating investment funds.

• These investment products witnessed $ 134.3 million of external flows on March 6.

Alpha, Check Ideas, Blame External flows on March 6 on “the” on the strategic reserve proposal for encryption in Trump, adding:

“Investors are increasingly on decentralization. Main players such as FBTC's FBTC and Ark's Arkb feel heat with large clouds and markets.”

BTC price needs to stick to more than 200 EMA

On March 3, the bitcoin price has decreased towards the decisive support provided by the SIA moving average for 200 days (EMA) is currently at $ 85550.

Related to: 4 Reasons for Trump's bitcoin reserves in reality: Execs Crypto

The main levels of watching:

• Keeping this trend line would enable Bitcoin to recover over a major resistance area ranging from $ 92,800 (EMA 100 days) and $ 94,000 (EMA 50 days).

• If this happens, the BTC price will be in a good position to re -test the level of $ 100,000 and may confirm 78 thousand dollars as a local.

• As such, one of the daily candles can see without closing EMA for 200 days a decrease in the BTC price to an interest area ranging from $ 81500 (4 March low) and $ 78,200 (February 28 low).

Commenting on the Bitcoin price procedures before the Crypto summit at the White House, the famous Trader Daan Crypto Trades pointed to the main levels to be seen in both directions, including the low range at $ 90,800 and the highest level at 109,000 dollars.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.