- Economic uncertainty and new U.S. tariffs add pressure, fueling a risk-off sentiment.
- Bitcoin’s performance mirrors stock market trends.
- Gareth Soloway predicts Bitcoin may see further decline, with support around $73,000–$75,000.
Bitcoin’s recent dip below $87,000 has raised questions about its future trajectory. After breaching $100,000 a few months ago, Bitcoin is now stuck in a period of sideways trading.
However, Bitcoin isn’t the only crypto asset affected by selling pressure; altcoins are also seeing prices fall. Wider market concerns about consumer confidence and inflation are putting pressure on both the stock and cryptocurrency markets.
Tariff Threats Add to Crypto Market Uncertainty
The overall market mood is further complicated by concerns about new tariffs the U.S. government is planning, specifically targeting Canada and Mexico.
While the market had grown somewhat used to tariff threats before, it now appears that these measures will proceed, adding additional pressure to an already fragile market. Experts like Gareth Soloway, Chief Market Strategist and President of Verified Investing, have pointed to critical technical indicator…
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Source: https://coinedition.com/bitcoins-sideways-slide-is-the-dip-a-correction-or-start-of-bear-market/