Bitcoin, weak amid never-ending US-China tariff war

BTC, Tension Before US-China Negotiations Leads to Decline... Defending $80,000
Multiple Altcoins Drop During Trading Day After Previous Day's Gains
Experts Offer Conflicting Forecasts for BTC's Future

Bitcoin (BTC) continued to maintain a weak stance on the 11th due to ongoing concerns about the tariff war between the United States and China.

Previously, US President Trump announced a 90-day delay in tariffs for 75 countries while also stating he would raise tariff rates for China. US media CNBC and CNN subsequently reported that the tariff rate for China would be 145%.

The cryptocurrency market slightly declined on the 11th due to the ongoing tension between the US and China, both part of the G1 and G2.

Bitcoin dropped by approximately 1.31%, hovering around the $80,000 level. Altcoins that had rebounded on the 10th experienced deeper declines. Ethereum (ETH) and Tron (TRX) recorded drops of about 4% and 3% respectively.

◇Bitcoin = At 4 PM on the 11th, the Bitcoin price on Upbit was 119,480,000 won. Bitcoin's dominance was 63.31%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 58.26% and 41.74% respectively.

While Bitcoin remained stable, expert opinions were divided.

Bohan Jiang, Head of OTC Options Trading at cryptocurrency exchange Abra, said, "Bitcoin is currently outside the direct target of the global trade war" and "If the Trump administration's policies accelerate de-dollarization, Bitcoin might show lower volatility."

Peter Schiff, an economic analyst from Wall Street and CEO of Euro Pacific Asset Management, analyzed, "Gold is taking the role Bitcoin was trying to play" and "Bitcoin is losing in competition with gold." He further claimed that "With Bitcoin's poor price performance and weak technical rebound, the market has again chosen gold as a safe asset."

◇Rising Coins = At 4 PM on the 11th, the cryptocurrency with the largest price increase on Upbit was Orca (ORCA), rising by approximately 48%.

Orca is a decentralized exchange (DEX) project based on Solana, recently providing various services through Eclipse Chain.

Based on CLMM, it enhances liquidity (token swap, pool) functions, allowing easy and efficient trading for both beginners and experienced users.

Through the governance token Orca, users can participate in decision-making about the project's direction.

◇Fear and Greed Index = The digital asset Fear-Greed index provided by Alternative remains at 25 points, maintaining the 'Fear' stage. The fear stage (20-39) is a period of increased cryptocurrency price volatility and trading volume, indicating a potential price decline. Caution is advised for potential purchases.

The Relative Strength Index (RSI) provided by Sigbit is 53.6, recording a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought or oversold conditions for a specific asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr