Trump own crypto boost fail as Bitcoin crash cause $744M liquidations
Trump post beta optimistic message for Truth Social, him call USA the “crypto capital” and say im go “NEVER let Crypto down.” But within 24 hours Bitcoin crash hit market. Bitcoin (BTC) slide near ~$73,200, while Ethereum (ETH) drop over 4.8% to about $1,987 and close below $2,000 for first time since March. Ripple (XRP) fall about 4% to roughly $1.27, break under $1.30 support. The selloff link to rising US–Iran military strikes and general risk-off move into cash and gold, wey quicken margin liquidation cascades. Derivatives stress spike: liquidations reach roughly $744M, most losses from long positions. At same time institutional spot Bitcoin demand weaken, single-day outflows from spot Bitcoin ETFs about $733M (led by BlackRock’s IBIT). Technicals also worsen. BTC and ETH trade below short-term 50/100-day EMAs, and BTC stability above ~$73,000 become key line. If the Bitcoin crash continue, price fit revisit the ~$70,000 psychological area. Even though Trump mention CLARITY Act and CFTC-related policy, spot-demand support no show—liquidation-driven selling dominate the tape.
Bearish
Despite Trump tok say him optimistic, di market response na big pass na na na by Bitcoin crash and wetin dem dey call liquidation mechanics. Long liquidation volume (almost di majority of total liquidations) dey show say leveraged longs dem force comot, wey make momentum worse and keep selling pressure dey active. Spot Bitcoin ETF outflows dey show say demand no dey replace di liquidation-driven supply. Technically, BTC/ETH dey trade below key short-term EMAs and BTC need hold about ~$73,000 mean say rallies fit struggle till stabilization show. Short-term, expect volatility and risk say downside go continue if risk-off flows persist. For longer term, sustained ETF outflow trend and failed “dip-buying” sentiment go keep rallies capped, though bearish pressure go reduce only after liquidations cool and BTC regain key moving-average levels.