empty
27.01.2025 11:19 AM
Bitcoin: Trump, China, and profit taking

Today, Bitcoin has come under strong pressure due to growing risk-averse sentiment and a corresponding decline in demand for risky assets. The cryptocurrency's price has plummeted below $100,000, with leading altcoins also showing sharp declines. This situation arises from two key factors: Trump and China. The US President has not established a Bitcoin reserve so far (contrary to his campaign promises) and nearly triggered a trade war with Colombia. Meanwhile, China released disappointing PMI data for the manufacturing sector.

This image is no longer relevant

On Friday, January 24, Donald Trump announced the formation of a task force to advise the White House on digital currency markets. Over the next six months, the task force is expected to develop a regulatory framework for cryptocurrency assets and evaluate the feasibility of creating a Bitcoin reserve.

On the one hand, this is positive news for the crypto industry, as the president officially acknowledged digital assets as a "key driver of financial innovation." On the other hand, the market had higher expectations—after all, the idea of forming a task force had already been priced in before Trump's inauguration. During his campaign, Trump promised to issue an executive order establishing a cryptocurrency reserve on his first day in office. However, as the saying goes, "Promises are like pie crusts—easily made, easily broken." This promise appears to be shelved indefinitely.

Other fundamental factors that previously supported BTC have already been factored into the market. For instance, traders reacted positively to Gary Gensler's departure as head of the Securities and Exchange Commission (SEC), as he was known for his tough stance on digital currencies. Trump replaced him with crypto advocate Paul Atkins. Additionally, Bitcoin benefited from the creation of a special cryptocurrency-focused task force within the SEC, led by Hester Peirce.

However, these decisions remain largely declarative. Trump has yet to confirm whether a cryptocurrency reserve will be created in the US, leaving the matter open for discussion. This leaves a 50% chance that the idea will either be delayed or rejected outright.

As a result, market participants locked in profits, causing BTC/USD to reverse downward and drop to $97,700 within hours. Other fundamental factors also played an indirect role in weakening risk appetite.

For example, today China released its manufacturing PMI, which disappointed investors with its "red" reading. From September to November, the index showed an upward trend, reaching 50.3. However, in December, it unexpectedly dropped to 50.1 (against forecasts of growth) and fell further to 49.1 in January. This puts the index in contraction territory for the first time since September last year and marks its lowest level since February 2024.

Additionally, China reported that the profits of major industrial enterprises (those with annual revenues exceeding 20 million yuan) declined by 3.3% in 2024. This is the third consecutive year of declining profits, following a 2.3% drop in 2023.

The "Colombian incident" also contributed to mounting risk aversion. On Sunday, Trump announced a 25% tariff on all imports from Colombia and proposed visa sanctions against Colombian officials. This was the US response to Colombia's refusal to accept military transport planes carrying deported migrants from California.

After Trump's announcement, Colombia's president declared that his country would impose reciprocal tariffs on US imports. However, following unofficial negotiations, both sides stepped back: the White House issued a statement confirming that Colombia would accept the migrants, and therefore, tariffs and sanctions would not be implemented.

In this context, a report from The Wall Street Journal is noteworthy. The article claims that Trump's advisors are unwilling to wait for negotiations or discussions with China. According to insiders, a "high-ranking White House official" stated that the US President is prepared to act "quickly and decisively," as seen in the Colombian case.

Thus, the current fundamental backdrop is not conducive to sustainable BTC growth. Corrections are likely to be used as opportunities to open short positions. Bitcoin has become a victim of inflated expectations regarding the cryptocurrency reserve amid broader risk-averse market sentiment.

Technical outlook for Bitcoin The support level is at $97,700 (the upper boundary of the Kumo Cloud on the D1 timeframe). If sellers break this level, the next target for BTC/USD will be $92,000 (the lower border of the Kumo Cloud on the same timeframe).

Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Analisis Teknikal Pergerakan Harga Harian Mata Wang Kripto Uniswap, Jumaat 31 Januari 2025.

Dengan kemunculan perbezaan antara pergerakan harga mata wang kripto Uniswap dan penunjuk Momentum (10), ia telah mengesahkan bahawa dalam masa terdekat akan ada pembetulan kelemahan pada Uniswap di mana paras

Arief Makmur 05:53 2025-01-31 UTC+2

Analisis Teknikal Pergerakan Harga Harian Filecoin Cryptocurrency, Jumaat 31 Januari 2025.

Pada carta 4 jam bagi mata wang kripto Filecoin, terdapat penampilan corak Wedge Gagal diikuti dengan perbezaan antara pergerakan harga Filecoin dan penunjuk Pengayun Stochastic , di mana kedua-dua perkara

Arief Makmur 05:53 2025-01-31 UTC+2

Adakah Bitcoin mempunyai ruang untuk kenaikan seterusnya?

Bitcoin terus bergerak ke atas berikutan mesyuarat dasar monetari terkini oleh Rizab Persekutuan dan sidang akhbar Jerome Powell, di mana beliau secara ringkas menyentuh tentang peraturan mata wang kripto. Kripto

Jakub Novak 16:39 2025-01-30 UTC+2

Analisis BTC/USD – 30 Januari. Powell Mencetuskan Kenaikan Baharu Bitcoin

Struktur gelombang pada carta 4 jam untuk BTC/USD kelihatan sangat jelas. Selepas struktur pembetulan a-b-c-d-e yang panjang dan kompleks, yang berkembang antara 14 Mac dan 5 Ogos, satu gelombang impulsif

Chin Zhao 11:36 2025-01-30 UTC+2

Bitcoin Menerima Sokongan 100% daripada Trump

Bitcoin dan Ethereum meneruskan kenaikan mereka, secara beransur-ansur menghampiri paras rintangan utama. Menurut laporan terkini, Donald Trump telah berjanji untuk memberikan sokongan penuh terhadap Bitcoin, berikrar untuk melepasi China

Jakub Novak 11:29 2025-01-30 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 30 Januari

Bitcoin dan Ethereum meningkat selepas mesyuarat Rizab Persekutuan semalam, di mana kadar faedah kekal tidak berubah. Ketiadaan pengumuman baru daripada Fed mengukuhkan permintaan dalam pasaran mata wang kripto, kerana pegawai-pegawai

Miroslaw Bawulski 07:43 2025-01-30 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 28 Januari.

Bitcoin dan Ethereum membuat kemunculan semula selepas mengalami penurunan yang ketara pada hari sebelumnya. Penurunan ini terutamanya didorong oleh penurunan permintaan untuk aset berisiko, susulan penjualan besar-besaran di pasaran saham

Miroslaw Bawulski 09:04 2025-01-28 UTC+2

Musim Altcoin Berakhir Sebelum Ia Sempat Bermula

Semua orang sedang menunggu musim altcoin—atau lebih tepatnya kesinambungannya—berita yang mengecewakan telah muncul mengenai Solana ETF. Walaupun sedikit yang benar-benar percaya kelulusan sebegitu akan berlaku dalam masa terdekat, hakikatnya usaha

Jakub Novak 14:43 2025-01-27 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 24 Januari

Bitcoin dan Ethereum mengalami pembetulan sebelum ucapan Donald Trump, tetapi, seperti yang sering berlaku, mereka pulih dengan kuat selepas berita positif yang muncul kemudian. Bitcoin pada mulanya meningkat melebihi paras

Miroslaw Bawulski 08:14 2025-01-24 UTC+2

Analisis Teknikal Pergerakan Harga Intraday Matawang Kripto Polkadot, Jumaat 24 Januari 2025.

Berdasarkan carta 4 jam mata wang kripto Polkadot, pergerakan harga menunjukkan corak 123 Menurun diikuti oleh Ross Hook (RH), ditambah dengan kemunculan penumpuan antara pergerakan harga Polkadot dan penunjuk Pengayun

Arief Makmur 04:24 2025-01-24 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.