Coindesk analyst Omkar Godbole said that Bitcoin (BTC) fell below the SMA200 moving average on Friday, a weekly decline of 16%. The price of Bitcoin briefly fell below the $80,000 mark for the first time since November 10 due to renewed concerns about U.S. tariffs and increased demand for the U.S. dollar.
Mr. Trump said on Thursday that he planned to impose tariffs on Canada and Mexico starting March 4, while doubling a general 10 per cent tariff on Chinese imports. "We expect US tariffs to come back into focus and drive the dollar higher for a sustained period," ING said in a note to clients on Thursday. The dollar index rose to 107.30, continuing a rally from Wednesday's low near 106.15.
Analyst: Bitcoin fell below $80,000 as market concerns over U.S. tariffs heated up again, dollar demand increased
2025-02-28 04:27:53
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