Bitcoin Bulls Facing Pressure: Fears of $80K Breakdown Loom

Bitcoin prices have seen significant drops, dropping over 7% and falling below $90,000. This decline is attributed to factors like President Trump’s anticipation of US tariffs on Mexico and Canada starting March 4th, which has led to a broader market slump. Bitcoin’s trading volume has surged, with a staggering $75 billion daily trading session. Liquidations have reached over $648 million. The price is also facing resistance levels after failing to cross the $100,000 mark since February 4th.