Bitcoin Price On The Brink: Failure To Hold This Level May Trigger Crash To $74,000
Bitcoin and other cryptocurrencies are under selling pressure due to escalating US-China trade tensions and new tariffs. Bitcoin dropped to $91,000, while Ethereum and Solana also saw losses. The US imposed a 10% tax on Chinese goods, prompting China to retaliate with tariffs on US imports. Investor confidence in riskier assets has declined, with US investors withdrawing $235 million from Bitcoin-centric ETFs. Open interest in Bitcoin futures on the CME fell by 4%. Bitcoin was trading at $98,970, about 13% below its all-time high. Ethereum faced record trading volumes and a 27% drop, leading to over $600 million in liquidations. A critical support level for Bitcoin is identified at $92,180; failure to hold this could lead to a target of $74,400. Profit margins for Bitcoin traders remain positive at 3.36%, but historical trends suggest potential for deeper corrections.
