Bitcoin Slips Below 100K As Trump’s Tariff Order Hits Global Markets
- Bitcoin (BTC) fell to $99,082.51 before recovering to $100,193.79.
- BTC mining revenue dropped to $1.4 billion in January.
Bitcoin (BTC) fell below $100,000, reaching a low of $99,082.51. The cryptocurrency currently trades at $100,193.79, down 2.28% in 24 hours. Its market cap stands at $1.98 trillion, with a 24-hour trading volume of $34.22 billion, marking a 22.95% decline. The fully diluted valuation (FDV) is $2.1 trillion, while the volume-to-market cap ratio is 1.71%.
U.S. President Donald Trump signed an executive order imposing a 25% tariff on Canadian goods, excluding energy products, which will face a 10% tariff. These duties take effect on Tuesday. Tariffs on Mexico and China will also be implemented. Bitcoin dropped to $100,279 following the announcement, reflecting market uncertainty.
Bitcoin’s mining revenue fell to $1.4 billion in January, down $40 million from December. Julio Moreno, head of research at CryptoQuant, reported that Bitcoin transactions hit their lowest level since March 2024. Mempool usage is low, with transaction fees dropping to 1 sat/vb. Over the weekend, unprocessed transactions decreased sharply, leaving multiple blocks partially empty.
Bearish Momentum Strengthens
Bitcoin faces immediate resistance at $103,622 and strong support at $99,000. If BTC breaks above resistance, it could rally toward $106,000. A drop below support may push it down to $97,500. The Relative Strength Index (RSI) stands at 43.96, near oversold territory. A further drop could trigger additional selling pressure, but if RSI rebounds above 50, a bullish reversal may begin.
![Bitcoin Slips Below 100K As Trump’s Tariff Order Hits Global Markets image 0](https://img.bgstatic.com/multiLang/image/social/4f0e7ecdcd0eda423e767fdd92301fb81738516929827.png)
The Moving Average (MA) crossover signals bearish momentum. The 9-day MA is at $101,382.30, below the 21-day MA of $103,279.02. A bullish crossover, where the short-term MA crosses above the long-term MA, would indicate a trend reversal.
The Chaikin Money Flow (CMF) suggests capital outflows from Bitcoin. The indicator remains in negative territory, reflecting weak buying pressure. If inflows increase, Bitcoin could reclaim $105,000.
The MACD histogram is in negative territory, with the MACD line below the signal line. This confirms the bearish trend. A crossover above zero could indicate renewed bullish sentiment.
Highlighted Crypto News Today
Kraken delists USDT and other stablecoins Under EU MiCA
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Faces Growing Competition as Rivals Gain Ground
![](https://img.bgstatic.com/multiLang/image/social/983d8e64e8a419973a861efc54e6a2c01738873343214.jpg)
Mega Bullish Cardano (ADA) Price Prediction
![](https://img.bgstatic.com/multiLang/image/social/e161d83ad4e5a2da6ef0d618ce3454871738807865728.jpg)
ETH is speedrunning the 50-year Intel chart
Despite the decades-long lead, there are spooky similarities between ETH and Intel stock
![](https://img.bgstatic.com/multiLang/image/social/cdd5bc75800cf11815d2cf5964c4361b1738871079661.jpeg)
Crypto Price Today (Feb 6, 2025): ETH, XMR, FTT, TRUMP Pumps
![](https://img.bgstatic.com/multiLang/web/300f31614793bfadf6da23d00f5fbf57.webp)
Trending news
MoreCrypto prices
More![Bitcoin](https://img.bgstatic.com/multiLang/coinPriceLogo/bitcoin.png)
![Ethereum](https://img.bgstatic.com/multiLang/coinPriceLogo/ethereum.png)
![Tether USDt](https://img.bgstatic.com/multiLang/coinPriceLogo/0208496be4e524857e33ae425e12d4751710262904978.png)
![XRP](https://img.bgstatic.com/multiLang/coinPriceLogo/ripple.png)
![Solana](https://img.bgstatic.com/multiLang/coinPriceLogo/solana.png)
![BNB](https://img.bgstatic.com/multiLang/coinPriceLogo/binance.png)
![USDC](https://img.bgstatic.com/multiLang/coinPriceLogo/usdc.png)
![Dogecoin](https://img.bgstatic.com/multiLang/coinPriceLogo/dogecoin.png)
![Cardano](https://img.bgstatic.com/multiLang/coinPriceLogo/cardano.png)
![TRON](https://img.bgstatic.com/multiLang/coinPriceLogo/tron.png)