The post Bitcoin Price Declines as Bearish Sentiment Deepens Amid Market Concerns and Tariff News appeared on BitcoinEthereumNews.com.

The cryptocurrency market is experiencing a notable downturn, with Bitcoin recently dropping to $79,390, highlighting ongoing bearish trends among investors. This significant drop is part of a broader market decline, further exacerbated by external economic pressures including tariffs and a fluctuating stock market. As Augustine Fan from SignalPlus noted, “Bullish option speculators are throwing in the towel,” reflecting the challenging sentiment within the crypto community. Bitcoin faces a steep decline as global economic pressures weigh down the crypto market; altcoins like XRP and Solana also follow suit in this downturn. Bitcoin Shows Significant Decline Amid Economic Concerns Bitcoin’s price has fallen by 7.6% in the past 24 hours, reaching a low of $79,250 earlier in the day. This drop is causing alarm among investors, especially since it marks a continued bearish sentiment that has permeated the market since the beginning of the year. Ether is also feeling the effects, trading around the $2,100 level, down a striking 10%. Market Influences: Tariffs and Global Economic Conditions The drop in cryptocurrency prices is occurring amidst broader economic concerns. U.S. President Donald Trump’s announcement of a 10% tariff increase on imports from China and remarks about maintaining tariffs on Canada and Mexico have heightened fears among investors. The correlation between Bitcoin and the S&P 500 Index indicates that risks in traditional finance (TradFi) are bleeding into the crypto space. Institutional Impact on Bitcoin Valuations Research from Presto Research indicates that unwinding basis trade positions by institutional investors is contributing to Bitcoin’s decline, as evidenced by record outflows from U.S. Bitcoin ETFs. This institutional repositioning reflects a significant shift in trading strategies and market confidence. Fear and Volatility: A Deepening Crypto Crisis The Crypto Fear & Greed Index is currently at a score of 10, indicating “extreme fear” among traders — the lowest since…

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Filed under: News - @ February 28, 2025 7:24 am