Bitcoin Price Prediction Amid Trade Tensions
The crypto market has sharply declined due to deteriorating global risk sentiment, triggered by renewed trade tensions between the US and China.
Bitcoin has dropped 8.1% in the past 24 hours, with other top assets like Ethereum and Solana also experiencing a decline.
The daily chart shows a break below the ascending channel, signaling weakening technical strength and intensified selling pressure.
The current Bitcoin price is $111,871, near a critical mid-range support level, with the Parabolic SAR dots indicating a shift in control toward sellers.
Bitcoin’s price narrative is shaped by macroeconomic shocks, dictating short-term market behavior.
Author's summary: Bitcoin price drops amid trade tensions.