Bitcoin Dey Eye Key Data Amid US-China Tension and Market Wahala
Bitcoin face weekend sell-off wey drag am down reach e $112,000 support level, make the total crypto market enter three-week low. Traders dey weigh the impact of new US import tariffs wey go start on August 7 and fresh US-China trade wahala ahead of the August 12 review. Weak July work data don reduce risk appetite further. This week, important economic releases like S&P Global Services PMI and ISM Services PMI go drop on August 5, plus weekly unemployment claims on August 8. Federal Reserve Chair Jerome Powell talk for Kansas City Fed forum fit change market feeling and cause fresh market wahala. On top companies matter, second quarter earning from tech companies like Palantir and AMD dey expected to affect risk assets including crypto. Bitcoin and Ethereum don bounce back from recent low; Bitcoin dey around $114,500—about 6.7% below e all-time high—and Ethereum dey trade near $3,560 after e bounce from $3,400 support. Analysts talk say if these key support levels hold, traders suppose still dey careful. If Powell talk soft or PMI reading soft, e fit make market rise, but ongoing geopolitical and macroeconomic problems make market direction dey uncertain.
Neutral
Di article dey highlight mixed signals: bearish tins like new US tariffs, weak job data and wahala for US-China trade dey balanced by possible bullish triggers from upcoming PMI releases and soft Fed talk. Bitcoin and Ethereum dey hold important support levels, show say risk profile dey balanced. Similar tins for past—like tariff announcements with soft Fed talk—dem cause sideways trading with small spikes sometimes. For short term, volatility fit rise around data drops and Powell speech, but no clear direction dey. For long term, if economy weak steady or Fed start aggressive easing, market fit go bullish; but if trade wahala increase or Fed talk turn hawkish, market go bearish.