Bitcoin falls as new buying momentum disappears

US-China Tariff War Continues, Cryptocurrency Market Sees Decrease in New Buying Pressure
BTC Retreats to $83,000... Altcoins Fall More Than 2%
Expert: "BTC Short-Term Decline Predicted... May Exceed $90,000 Depending on Demand"

Amid the ongoing tariff war between the United States and China, the cryptocurrency market, including Bitcoin (BTC), declined on the 16th due to the disappearance of new buying pressure.

This week, the entire asset market has been continuously declining amid anxiety. This is because after US President Trump applied a 145% tariff on China, China retaliated, and neither side has presented a meaningful agreement.

In the midst of market uncertainty, new buying pressure has vanished from the cryptocurrency market. On-chain analyst CryptoDan said on the 15th (local time), "New investor inflows are significantly lower compared to past cycles" and "This appears to be due to liquidity shortages from high interest rates and market restructuring centered on institutional investors".

Bitcoin dropped to $83,000 on the 16th, and altcoins also fell by more than 2%. Only a few altcoins saw significant increases.

◇Bitcoin = At 4 PM on the 16th, the Bitcoin price on Upbit was 121.82 million won. Bitcoin's dominance was 63.89%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 56.24% and 43.76%, respectively.

Opinions suggesting a short-term decline in Bitcoin were presented. However, if it can withstand the short-term decline, Bitcoin is expected to exceed $90,000.

Bitfinex's weekly analysis report stated, "A correction due to profit-taking seems inevitable this week" and "Whether demand is maintained during this correction will be key to determining whether it breaks through $90,000".

◇Rising Coins = At 4 PM on the 16th on Upbit, Ardor (ARDR) recorded the largest increase, rising by approximately 37%.

Ardor (ARDR) is an open-source multi-chain BaaS (Blockchain as a Service) platform improved from the existing NXT by the Jelurida Foundation, also known as NXT 2.0.

The currency unit is the ARDR token, which is the main chain token of the Ardor Network, used for new block creation, network consensus governance, and transaction fee payments.

◇Fear and Greed Index = The digital asset Fear and Greed Index provided by Alternative remains at 29 points, maintaining the 'Fear' stage. The fear stage (20-39) is a period of increased cryptocurrency price volatility and trading volume, indicating a price decline. There is a high possibility of short-term bottom formation, so caution is advised when buying.

The Relative Strength Index (RSI) provided by Sigbit is 47.6, recording a 'neutral' state. RSI measures the relative strength between upward and downward pressure on a specific asset price and indicates the overbought and oversold scales of a particular asset.

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