Things were looking great for BTC at the beginning of the year. For the first time, the token broke the $100K mark. This instantly sent people into a frenzy, and they rushed to maximize their profits. This started a vicious cycle of BTC crashing. Subsequently, the market upheaval after Trump’s tariff announcement made things worse.
At press time, BTC has slipped from its $82K support. This is not good news for anybody holding BTC as an asset. On the other hand, the Nasdaq Composite seems to be on track to record one of the biggest one-day percentage drops since 2020.
This is utter bloodbath for traders. Intensifying trade wars and a crashing market tend to push people to the brink of desperation. Almost all US trade partners have faced the heat of revised tariff plans.
BTC’s Gradual Slump
In the wake of new announcements, US Crypto faced one of the steepest corrections on Thursday. The all-new tariff plan might benefit the US financially. However, it has created a mortal dilemma for holders.
At press time, the BTC fear/greed index suggests a considerable drop. The token’s fear/Greed index is currently at 25, under extreme fear. This can compel the market to function weirdly and lead to losses.
On the other hand, Santiment data shows that BTC whales hold around 1,000 to 10,000 BTCs. Therefore, if the losses increase, the whales might flood the system with more tokens, worsening the ecosystem and pushing the price further down.
Currently, BTC is holding on to its dear life for the $85,000. To make significant changes, BTC must push the pricing beyond this support level at any cost. Otherwise, worse days are ahead for all BTC holders.
