Will Bitcoin Rise Again? Price Falls as EU-US Tariff Dispute Shakes Markets
Author: Content Editor
Rising geopolitical tensions and global trade disputes, particularly the European Union's retaliatory tariffs on US goods, are adding pressure to financial markets and impacting Bitcoin. Bitcoin has seen a 7% decline in the past week, with a decline in trading volumes. The trade war developments could potentially lead to a temporary correction in Bitcoin's price, with key support levels at $79,000, $72,000, and $66,000. Despite the market correction, Bitcoin's mining difficulty continues to rise, indicating miners' confidence in its long-term trajectory. The short-term trajectory of Bitcoin will be influenced by macroeconomic conditions and market sentiment. While volatility remains, long-term fundamentals suggest that Bitcoin's bull cycle is still ongoing, although investors may experience more turbulence before the next major rally.
