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Bitunix Analyst: Trump's Tariff Pressure Intensifies, Causing Cryptocurrency Market Volatility, Focus on Short-Term Support at 108,000 and Resistance at 110,348

4 hours ago

July 4th: President Trump of the US stated that he will announce new tariffs on trading partners as early as Friday in order to intensify pressure before the negotiations on July 9th. This action indicates a potential new round of escalation in the US's global tariff policy. The market is worried about the further deterioration of global trade and its impact on economic prospects. The US dollar is fluctuating, and the safe-haven asset gold has shown short-term strength. The Bitcoin price is currently in a state of consolidation around 108,849, restricted by the previous high pressure at 110,348, with a large number of short liquidation points concentrated in that area. Although the price has broken through the downtrend line, it is facing resistance in the pressure zone. If it falls below 108,000 in the short term, it will return to the area of supply and demand imbalance. Bitunix analyst's recommendation: Currently, BTC is at a crucial turning point. If it remains above 108,000, it is expected to challenge 110,348 and the liquidation zone near 112,000. On the other hand, if it drops below, it will test the support range of 106,000 to 105,000. Short-term trading strategies should be cautious and take into account macro risks, favoring range trading. Appropriate position management is crucial and emotional trading should be avoided.
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