Bitcoin fell at its lowest level in three weeks while US President Donald Trump has published an executive decree imposing commercial prices on a series of countries.
Bitcoin (BTC) fell at $ 114,250 on Coinbase at the start of the negotiation in Asia on Friday, according to TradingView. It has not been so low since June 11.
The original cryptocurrency has now been broken below its three-week beach, and the next support area is around $ 111,000 if there is no rebound. The decrease of today 2.6% takes the assets at around 6.5% below its historic summit of $ 122,800, which came on July 14.
Bitcoin had already dropped in the deadline for the decision of the tariff decision, $ 110 billion who left the cryptographic markets in the last 12 hours.
In total, 158,000 merchants have been liquidated up to $ 630 million in the past 24 hours, according to Coinglass. Most of them were long positions.
The drop in the cryptography market occurs the same week that the White House published a crypto policy report widely considered as an upper for industry.
Trump imposes commercial prices
President Trump Thursday offered a range of high prices and commercial transactions he announced in recent weeks on Thursday, including rates in Canada from 25% to 35%.
The decree, which has been subject to a self-imposed deadline for commercial transactions, has also set rates for countries that have not concluded agreements with it, such as South Africa, Switzerland, Taiwan and Thailand, which face rates between 19% and 39%.
Agreements with eminent business partners such as the European Union, Japan, South Korea and the United Kingdom have also been formalized.
The stock markets across Asia exchanged lower Friday morning, as well as the cryptographic markets.
China agreement could mitigate tensions
“Combined with uncertainty about prices, it is natural to see certain profits after a very strong race on actions and cryptographic markets,” said Cointelegraph, director of investments at Apollo Capital, Henrik Andersson, adding:
“If an agreement with China can be concluded, this would remove a large part of the current uncertainty in our opinion.”
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“The drop in this week’s market reflects a mixture of fear of pricing deadlines and wider macroeconomic uncertainty, with Trump’s new plans amplifying volatility,” said Nick Ruck, director of LVRG Research, at Cointelegraph.
However, some investors have considered sale as a “temporary correction rather than a structural change,” he said before adding:
“While the prices contributed to the decline, the discharge was probably exacerbated by profits after recent ATH, persistent geopolitical tensions and American macro uncertainty.”
The highest monthly candle
Despite the relatively minor bitcoin, the asset displayed his highest monthly candle in July. He reached a record level and closed the month at $ 115,784, according to TradingView.
It was not the biggest monthly candle, however. It was last November, when the asset jumped by $ 26,000 in just one month after the election of Donald Trump in the United States.
Review: China makes fun of American crypto policies, the new Dark Markets of Telegram: Asia Express
