⬛Bitcoin has plunged below $89,000, with Bitfinex analysts warning of a “critical threshold.” Since February 24, its price has dropped by 8%, while the total crypto market capitalization has fallen below $3 trillion. The decline coincided with Donald Trump’s announcement of 25% tariffs on imports from Canada and Mexico.
⬛The market lost $1.34 billion in a single day, with $525 million coming from liquidated long Bitcoin positions. The Fear Index has dropped to 25 points, signaling panic. Analysts attribute the downturn to macroeconomic uncertainty. Michaël van de Poppe predicts a potential bottom at $83K–$87K, followed by a rebound.