Bitcoin (BTC) experienced a 3% drop, slipping below key support at $83,200 and testing the 200-day simple moving average. This decline is attributed to macroeconomic concerns, including escalating trade tensions between the U.S. and China, uncertainty in the market, and indications of a potential recession. Despite President Donald Trump's recent crypto-related announcements, such as a strategic BTC stockpile, the focus has shifted towards these larger economic issues. Analysts note a strengthening correlation between bitcoin, ether, and U.S. stocks, and suggest that investor expectations of a Trump bull market may have been too optimistic.



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