Bitcoin’s price has fallen nearly 4% in the last 24 hours, defying expectations of a bullish surge following recent positive market developments. Despite the signing of a Strategic Bitcoin Reserve and a White House Crypto Summit, selling pressure has intensified, leaving investors puzzled.
Bitcoin Falls Below $84,000 Amid Bearish Market Trends
The world’s largest cryptocurrency by market capitalization is struggling to maintain support at $83,000, with on-chain indicators signaling further weakness. Over the past seven days, Bitcoin has lost 3.37% of its value, while daily trading volumes have plummeted by 53%.
At the same time, whale activity has surged, with large holders accumulating over 22,000 BTC in the past three days. This accumulation, however, has not been enough to offset broader market corrections.
“This might have been the most bullish week in Bitcoin history, yet we’re dumping,” remarked a seasoned analyst. “I’ve never seen price action more disconnected from the news.”
Macroeconomic Pressures Weigh on Bitcoin
Bitcoin’s decline comes amid broader economic concerns, including new US tariff policies that have triggered sell-offs across cryptocurrency markets. Additionally, Friday’s non-farm payroll (NFP) report has raised fears of potential Federal Reserve monetary tightening, dampening investor confidence.
Furthermore, analysts suggest that the recent bullish announcements lacked “actionable” policies, leading to fading enthusiasm. As a result, Bitcoin’s downturn has also pulled major altcoins lower, with Ethereum (ETH) down 3.24%, Ripple (XRP) losing 6.38%, and Binance Coin (BNB) falling 4.78% in the last 24 hours.
Crypto Market Faces Widespread Liquidations
With over $150 million in liquidations recorded, the global cryptocurrency market capitalization has declined nearly 6% in a day, currently standing at $2.68 trillion.
As uncertainty looms, traders and investors remain cautious, watching for key support levels that could stabilize Bitcoin’s price in the coming days.
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