As a result of the latest round of the trade war by President Trump, the cryptocurrency market lost about 140 billion USD in just a few hours. Major declines were triggered by an immediate sell-off by short-term holders of Bitcoin (BTC), who sold a total of 18,930 BTC.
Short-term investors disposed of nearly 19,000 BTC, translating to sales worth around 1.56 billion USD. The number of short positions increased to 55.32%, signaling the possibility of further declines.
BTC holders from 1 to 3 months sold 3,113 BTC, BTC holders from 3 to 6 months sold 2,737 BTC. The largest wave of selling came from investors holding Bitcoin from 6 months to 1 year (3,983 BTC) and from 1 year to 1.5 years (9,097 BTC).
At the time of the largest sell-off, Bitcoin was priced at 82,794 USD, meaning the total value of sold assets amounted to approximately 1.56 billion USD.
Under the current conditions, the market shows signs of weakening, and further declines in Bitcoin prices are not excluded.
In my opinion, although the cryptocurrency market is independent, and tariffs do not apply to financial services, of which the crypto market is a part - investors are not convinced that altcoins are a good store of value. $BTC
