Bitcoin falls on Trump's willingness to continue tariff war

Trump, "Transition Period Needed" in Response to Recession Concerns
US 3 Major Stock Indexes Close Down 10% After Trump's Response
BTC Collapses Below $80,000 During Session Amid Market Fear
'Altcoins' as Risky Assets, Decline Deepens Amid Market Downturn

President Trump's continued willingness to wage a trade war against major trading partners has caused the overall asset market to wobble, and the cryptocurrency market, including , also fell on the 11th.

In an interview with Fox News on the 9th (local time), when asked if he expected a recession, President Trump said, "What we're doing is bringing wealth back to America" and that "we need a certain transitional period."

Trump's response was interpreted as a sign that he would continue the trade war he has been waging, and most asset markets, including the US stock market, fell. Earlier, President Trump had announced a 25% tariff on Canada and Mexico, and a 20% tariff on China.

As President Trump's continued trade war spread fears of a US economic slowdown, the 3 major US stock indexes plunged on the 10th (local time). On the 10th, the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Index closed down -2.08%, -2.70%, and -4.00%, respectively.

With the decline in the asset market, broke below $79,000 during the session on the 11th.

On the 11th, the decline of representative 'altcoins' as risky assets deepened. Major altcoins such as (down about 8%), , , , and fell by an average of about 4%.

◇Bitcoin = As of 4 pm on the 11th, based on Upbit, the price of Bitcoin is 12.2 million won. Bitcoin's market share (dominance) was 61.88%.

According to on-chain analysis platform Glassnode, the long (bullish) and short (bearish) betting ratio in the Bitcoin futures market was 73.18% and 26.82%, respectively.

Despite the sharp drop in US stocks and the subsequent decline in Bitcoin, Arthur Hayes, CEO of BitMEX, forecast that Bitcoin will take a different path from the US stock market.

Through his X account, he predicted that Bitcoin, as an asset that does not depend on political ideology, is very different from US stocks, and will show an advantage in the current economic downturn, as the current economic crisis is a crisis caused by the liquidity of fiat currency.

◇Rising Coin = As of 4 pm on the 11th, based on Upbit, the cryptocurrency that recorded the largest increase from the previous trading day was , up about 38%.

is a platform that provides blockchain information, providing and as its main services.

is a service that can check all blockchain-related information in real-time using artificial intelligence (AI) to provide additional information. is a platform that exchanges blockchain-related information using the native token , providing users with "Intel-to-Earn" opportunities.

The cryptocurrency is used for utility and governance purposes.

◇Fear and Greed Index = The Digital Asset Fear and Greed Index provided by Alternative is at 24 points, maintaining the 'Fear' stage. The Fear stage (20-39) is a stage where cryptocurrency price volatility and trading volume are high, and prices are declining. There is a high possibility of forming a short-term bottom, so caution is needed when buying.

The Cryptocurrency Relative Strength Index (RSI) provided by Glassnode is 44.7, recording a 'neutral' state. RSI measures the relative strength of the upward and downward pressure on the price of a specific asset, indicating the overbought and oversold levels of the asset.