President Trump and Russian conflict raise the possibility of tariffs, which could cause the Bitcoin price to drop below $80,000.
President Trump’s threat of additional tariffs on Russia is making investors worry. The bitcoin price risks falling below $80,000 due to ongoing geopolitical tensions with Russia.
Trump’s Tariff Rhetoric Causes Bitcoin Price to Drop
Following President Trump’s most recent remarks, new US tariffs against Russia are constantly threatened. The US president criticized Russia’s alleged delays in negotiating a long-term ceasefire agreement in the war against Ukraine.
Trump revealed that secondary tariffs on Russian oil would be implemented at any moment. A report claims that in response to the failed conflict resolution procedures, Trump is considering imposing an additional 25% import tax on Russian oil.
Bitcoin investors are bracing for a decline below $80,000 as sanctions become a real possibility. The price of Bitcoin has historically been negatively impacted by trade wars and economic uncertainty, which has caused investors to seek haven investments.
There is a serious chance that after the tariffs, oil prices will rise globally, raising the cost of energy. Rising energy costs will lead to miner capitulations, which would be bad for the price of Bitcoin if miners sell their holdings.
Amid the looming threat of tariffs, investors pulled 6,000 BTC from exchanges, fearing the widespread bearish sentiment.
Bitcoin Drop Below $80K Is Possible
The technicals for the price of Bitcoin are generally negative, aside from the bleak fundamentals surrounding the tariffs. The leading cryptocurrency trades at $82K and is on a downward trajectory.
Although Peter Brandt anticipates a sharp decline to $65,635, a short-term drop below $80K is possible for Bitcoin. While the RSI levels are similar, the MACD shows no crossover in sight, confirming bearish sentiments.
According to Crypto Dad, a pseudonymous analyst, BTC is stuck under a clean descending channel, and the price is currently grinding within a high-interest demand zone just above the previous daily low (PDL) and weekly low (PWL).
A surge of institutional Bitcoin purchases has not significantly halted the asset’s decline. Marathon Digital has launched a $2 billion stock sale to power new BTC purchases while Metaplanet and Strategy continue to bolster their holdings.
