Bitcoin price falls to $80K amid Trump economic policies

On March 10, the Bitcoin price dropped to $ 80,052, reflecting a drop of 7% in the last 24 hours, because the uncertainty surrounding Trump’s economic policies continues to have an impact on the market. To date, Bitcoin is negotiated at around $ 82,200.

According to Crypto.News Price trackerThe overall cryptocurrency market experienced a 7%drop, reaching an assessment of 2.77 billions of dollars. While Solana (GROUND) and xrp (Xrp) recorded 7% of losses each, Ethereum (Ethn) dropped by 8% to negotiate nearly $ 2,000. Bitcoin (BTC) Domination, at 58.2%, remained stable despite the drop. Bitcoin is traded at $ 82,200 levels when writing this article.

In the past 24 hours, the slowdown in the market has led to $ 616 million in liquidations, according to Coinglass dataWith long positions bringing the weight of losses to $ 540.49 million. Bitcoin losses have only totaled $ 231 million.

Adding to uncertainty, Bitcoin Futures on the Chicago Mercantile Exchange open At $ 82,110 on March 10, down $ 4,320, against a fence of $ 86,430 the day before. After a record drop of $ 10,350 on March 3, it was the second largest day dive on the CME’s term contracts this month.

The market slowdown was caused by growing uncertainty of the market after US President Donald Trump admitted to a Fox News on March 9 interview that its economic policies would bring temporary economic pain. Its remarks concerning budget cuts and commercial prices have aroused concern on the market possible volatilityThis made investors cautious about the investment in cryptocurrency and other financial markets.

Some investors have compared the potential of disturbance To the severe anti-inflation policies of the former president of the Federal Reserve Paul Volcker in the 1980s. Although Volcker’s measures stabilize inflation and stimulate long-term growth, they initially caused significant market instability.

The co-founder of Bitmex, Arthur Hayes, warned that Bitcoin could drop, or even a test of $ 78,000. He stressed that many Bitcoin options are valued between $ 70,000 and $ 75,000, which can cause additional volatility if prices enter this region.

Merchants are now watching the main economic relationships this week, including the American consumer price index on March 12 and the Produce Price index on March 13. These events could dictate Bitcoin’s next decision.