Somewhat unexpectedly, all the drama started during the previous weekend, which is typically a calmer period for the financial markets. Well, except crypto, because it's open 24/7. President Trump's implementation of new taxes on Canada, China, and Mexico brought mass panic across the charts. On Saturday evening and Sunday, BTC tumbled from $102,000 to under $100,000 and down to $97,000. It managed to catch its breath on Sunday afternoon, but the bears were back in control of the market on Monday morning. In a matter of hours, BTC slumped hard and fell below $92,000 for the first time in about two weeks. Consequently, bitcoin had lost ten grand within 24 hours and roughly $15,000 since last Friday when it stood above $106,000. After that multi-week low, though, the cryptocurrency bounced off and jumped above $100,000 and back to $102,000, thus completing another ten-grand move within hours. Nevertheless, it failed to sustain within six-digit territory and headed south in the following days. It flirted with the $96,000 support line on several occasions but so far has managed to maintain above it. Hours ago, BTC pumped by a few grand and touched $100,000 for the first time since Monday, following the US jobs data. However, it couldn't keep the momentum going and is now back below it. |