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Bitcoin at a Critical Turn: Testing $91,000

In the cryptocurrency markets, selling pressure continues. Bitcoin tested $91,000, while Ethereum tested $2,500. $884 million worth of transactions were wiped out in the last 24 hours. Analysts point out the increasing uncertainties, emphasizing that Bitcoin is at a crucial juncture. Power loss persists in the cryptocurrency markets. Bitcoin has been following a downward trend in recent days, dropping over 5% from $96,400 to $91,000. The leading cryptocurrency stabilized around $92,000 due to buying pressure from the dip. The second-largest crypto asset, Ethereum, plummeted from around $2,800 to $2,500. The crypto market decline came after US President Donald Trump’s comments on customs duties. Trump stated that customs duties on products imported from Canada and Mexico would continue as planned. As a result of the market movement, 285,186 investors were liquidated. According to Coinglass data, a total of $884 million worth of positions were liquidated in the futures market in the last 24 hours. Analysts noted that Bitcoin is increasingly establishing more links with traditional markets. Analysts highlighted the increasing macroeconomic uncertainties, emphasizing that Bitcoin is at a critical juncture.

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