Geopolitical Storm Drives Bitcoin Volatility; $500M in Liquidations
1min read The cryptocurrency market, particularly Bitcoin (BTC), has been grappling with volatility amidst escalating geopolitical tensions. The United States has imposed a 25% tariff on both Canada and Mexico, with no room for negotiation, and is set to impose retaliatory tariffs on April 2nd. Additionally, the U.S. government is considering sanctions against nations engaging in currency devaluation, which could disrupt global trade dynamics and hinder economic growth. These developments have the potential to exert pressure on the cryptocurrency market.
In the past 24 hours, the BTC market has witnessed approximately $500 million in liquidations, with long liquidations accounting for 60% of the activity, compared to 40% for shorts. The long-to-short ratio among large holders stands at 1.2, indicating a slight preference for long positions. Market analysts have observed a modest increase in BTC spot ETF holdings, suggesting heightened demand from institutional investors. The demand zone is currently between $81,000 and $80,500, while the supply zone ranges from $90,000 to $92,000. Investors are advised to closely monitor these critical levels and proactively manage risk.
