Sign up to save your podcasts
Or
Share Bitcoin Tumbles Below $90K: Bybit Hack, Trump Tariffs, and Market Jitters
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Bitcoin Tumbles Below $90K: Bybit Hack, Trump Tariffs, and Market Jitters
The Bitcoin & Cryptocurrency Investment Show podcast.
Hey there, fellow crypto enthusiasts It's your buddy Crypto Willy here, and I've got the latest scoop on the Bitcoin and cryptocurrency scene. Let's dive right in!
This week has been a wild ride, folks. Bitcoin took a significant hit, dropping below $90,000 for the first time since November. The culprit? A perfect storm of factors, including the historic $1.5 billion Bybit hack and renewed concerns about U.S. tariffs. Yep, you heard that right - President Donald Trump's announcement about imposing tariffs on Canada and Mexico sent shockwaves through the markets, and crypto wasn't immune.
As Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, pointed out, the resulting risk-off sentiment in traditional markets has impacted the digital asset sector. The Crypto Fear and Greed Index, a key market gauge, recently fell to a five-month low of 25. Ouch!
But don't worry, friends - it's not all doom and gloom. Thomas Erdosi, head of product at CF Benchmarks, noted that the absence of new bullish catalysts has kept prices range-bound in recent weeks. However, there are some positive developments on the horizon. For instance, an op-ed by two Republican members of the House Financial Services Committee hinted at potential legislation for the digital assets and blockchain space.
Now, let's talk technicals. Bitcoin's price situation is looking bearish in the short term, with the coin trading around $88,000. According to Elyfe's analysis, the cryptocurrency has broken below its first monthly pivot support and is now clearly below a significant value area. However, the long-term trend remains bullish, so don't panic just yet!
In other news, the crypto market's strong correlation with U.S. equities has triggered a decline in digital asset prices. Ben El-Baz, HashKey Global's Managing Director, pointed out that crypto prices are reaching past critical support levels that need to be regained to avoid a longer-term bear market.
Lastly, keep an eye on the upcoming economic data releases, including the U.S. personal consumer expenditures price index on Friday. If inflation looks like it's dropping to near the Fed's 2% target and rates soften, a mid-term bullish turn could emerge.
That's all for now, folks. Stay alert, and remember - in the world of crypto, things can change in a heartbeat. Keep calm, keep informed, and keep on HODLing!
Your buddy,
Crypto Willy.
Get the best deals https://amzn.to/3ODvOta
Hey there, fellow crypto enthusiasts It's your buddy Crypto Willy here, and I've got the latest scoop on the Bitcoin and cryptocurrency scene. Let's dive right in!
This week has been a wild ride, folks. Bitcoin took a significant hit, dropping below $90,000 for the first time since November. The culprit? A perfect storm of factors, including the historic $1.5 billion Bybit hack and renewed concerns about U.S. tariffs. Yep, you heard that right - President Donald Trump's announcement about imposing tariffs on Canada and Mexico sent shockwaves through the markets, and crypto wasn't immune.
As Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, pointed out, the resulting risk-off sentiment in traditional markets has impacted the digital asset sector. The Crypto Fear and Greed Index, a key market gauge, recently fell to a five-month low of 25. Ouch!
But don't worry, friends - it's not all doom and gloom. Thomas Erdosi, head of product at CF Benchmarks, noted that the absence of new bullish catalysts has kept prices range-bound in recent weeks. However, there are some positive developments on the horizon. For instance, an op-ed by two Republican members of the House Financial Services Committee hinted at potential legislation for the digital assets and blockchain space.
Now, let's talk technicals. Bitcoin's price situation is looking bearish in the short term, with the coin trading around $88,000. According to Elyfe's analysis, the cryptocurrency has broken below its first monthly pivot support and is now clearly below a significant value area. However, the long-term trend remains bullish, so don't panic just yet!
In other news, the crypto market's strong correlation with U.S. equities has triggered a decline in digital asset prices. Ben El-Baz, HashKey Global's Managing Director, pointed out that crypto prices are reaching past critical support levels that need to be regained to avoid a longer-term bear market.
Lastly, keep an eye on the upcoming economic data releases, including the U.S. personal consumer expenditures price index on Friday. If inflation looks like it's dropping to near the Fed's 2% target and rates soften, a mid-term bullish turn could emerge.
That's all for now, folks. Stay alert, and remember - in the world of crypto, things can change in a heartbeat. Keep calm, keep informed, and keep on HODLing!
Your buddy,
Crypto Willy.
Get the best deals https://amzn.to/3ODvOta
View all episodes
By Quiet. PleaseThe Bitcoin & Cryptocurrency Investment Show podcast.
Hey there, fellow crypto enthusiasts It's your buddy Crypto Willy here, and I've got the latest scoop on the Bitcoin and cryptocurrency scene. Let's dive right in!
This week has been a wild ride, folks. Bitcoin took a significant hit, dropping below $90,000 for the first time since November. The culprit? A perfect storm of factors, including the historic $1.5 billion Bybit hack and renewed concerns about U.S. tariffs. Yep, you heard that right - President Donald Trump's announcement about imposing tariffs on Canada and Mexico sent shockwaves through the markets, and crypto wasn't immune.
As Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, pointed out, the resulting risk-off sentiment in traditional markets has impacted the digital asset sector. The Crypto Fear and Greed Index, a key market gauge, recently fell to a five-month low of 25. Ouch!
But don't worry, friends - it's not all doom and gloom. Thomas Erdosi, head of product at CF Benchmarks, noted that the absence of new bullish catalysts has kept prices range-bound in recent weeks. However, there are some positive developments on the horizon. For instance, an op-ed by two Republican members of the House Financial Services Committee hinted at potential legislation for the digital assets and blockchain space.
Now, let's talk technicals. Bitcoin's price situation is looking bearish in the short term, with the coin trading around $88,000. According to Elyfe's analysis, the cryptocurrency has broken below its first monthly pivot support and is now clearly below a significant value area. However, the long-term trend remains bullish, so don't panic just yet!
In other news, the crypto market's strong correlation with U.S. equities has triggered a decline in digital asset prices. Ben El-Baz, HashKey Global's Managing Director, pointed out that crypto prices are reaching past critical support levels that need to be regained to avoid a longer-term bear market.
Lastly, keep an eye on the upcoming economic data releases, including the U.S. personal consumer expenditures price index on Friday. If inflation looks like it's dropping to near the Fed's 2% target and rates soften, a mid-term bullish turn could emerge.
That's all for now, folks. Stay alert, and remember - in the world of crypto, things can change in a heartbeat. Keep calm, keep informed, and keep on HODLing!
Your buddy,
Crypto Willy.
Get the best deals https://amzn.to/3ODvOta
Hey there, fellow crypto enthusiasts It's your buddy Crypto Willy here, and I've got the latest scoop on the Bitcoin and cryptocurrency scene. Let's dive right in!
This week has been a wild ride, folks. Bitcoin took a significant hit, dropping below $90,000 for the first time since November. The culprit? A perfect storm of factors, including the historic $1.5 billion Bybit hack and renewed concerns about U.S. tariffs. Yep, you heard that right - President Donald Trump's announcement about imposing tariffs on Canada and Mexico sent shockwaves through the markets, and crypto wasn't immune.
As Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, pointed out, the resulting risk-off sentiment in traditional markets has impacted the digital asset sector. The Crypto Fear and Greed Index, a key market gauge, recently fell to a five-month low of 25. Ouch!
But don't worry, friends - it's not all doom and gloom. Thomas Erdosi, head of product at CF Benchmarks, noted that the absence of new bullish catalysts has kept prices range-bound in recent weeks. However, there are some positive developments on the horizon. For instance, an op-ed by two Republican members of the House Financial Services Committee hinted at potential legislation for the digital assets and blockchain space.
Now, let's talk technicals. Bitcoin's price situation is looking bearish in the short term, with the coin trading around $88,000. According to Elyfe's analysis, the cryptocurrency has broken below its first monthly pivot support and is now clearly below a significant value area. However, the long-term trend remains bullish, so don't panic just yet!
In other news, the crypto market's strong correlation with U.S. equities has triggered a decline in digital asset prices. Ben El-Baz, HashKey Global's Managing Director, pointed out that crypto prices are reaching past critical support levels that need to be regained to avoid a longer-term bear market.
Lastly, keep an eye on the upcoming economic data releases, including the U.S. personal consumer expenditures price index on Friday. If inflation looks like it's dropping to near the Fed's 2% target and rates soften, a mid-term bullish turn could emerge.
That's all for now, folks. Stay alert, and remember - in the world of crypto, things can change in a heartbeat. Keep calm, keep informed, and keep on HODLing!
Your buddy,
Crypto Willy.
Get the best deals https://amzn.to/3ODvOta