Bitcoin fell 4.72% over the weekend and another 3.50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods. Bitcoin tumbled below $100,000 over the weekend, extending losses into today as threats of a possible trade war rock markets worldwide. While most of Bitcoin’s price decline came this weekend, weakness began when its price failed to swing higher than the $108,000 level two weeks ago (Jan. 20). A failure to swing higher can signify insufficient buy pressure to push prices higher. If that is the case, prices will seek the next major liquidity level, which could mean lower prices in the interim, as seen over the last two weeks. Scaling down to a lower time frame, price continued to break lower below $99,000 before retracing to an internal sup...
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