Briefly
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Bitcoin hit $ 106,000 before it slid $ 3.8% in $ 102,450 in a few hours
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Ethereum fell $ 4.3% to $ 2,400 on Monday, which prompted liquidation worth $ 264.4 million
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Federal reserves have warned that Trump’s tariffs can cause an increase in inflation, and Walmart has also increased prices due to a trade war.
Leading currency Bitcoin It had an unstable start of the week because it increased by 2.5% from 103,850 to $ 106,500 before dropping 3.8% to $ 102,450 on Monday.
With the main moves of Bitcoin, positions worth $ 178.46 million have been liquidated in the last 24 hours, according to Coinglingwith a rather equal division between long and short positions.
This comes as a lawsuit for class action submitted Against Microstrategy, a company led by Michael Saylor, who bicolanly gained Bitcoin, claiming that the company is fooling investors – a matter of hours later a company announced Action of BTC worth $ 764.9 million.
In addition, the Australian judge ruled that Bitcoin is the form of money, according to Australian financial review. This will potentially open the door for Bitcoin to be exempt from capital gain tax.
Meanwhile, Ethereum The day fell 4.3% from $ 2,500 to $ 2,400 after it was considered a big moon for the second largest crypto currency. As such $ 264.40 million in Ethereum positions are liquidated, according to Coinglingwith $ 205.28 million last.
This follows one month of green action for most of the cryptocurrency industry, as President Trump’s trade war It seems to be nearing its end.
At the beginning of May, the United States and the UK agreed on a trade agreement in what British treasure minister called “Huge relief. “Then, last week, China reached an agreement with the states that encouraged a the main return to the tariff between countries.
However, the care of inflation appeared after Federal reserves Retaining your reference interest rates at 4.25% to 4.50%, without a sign of current displacement in politics – in that Trump criticism. Fed also warned that the risk of greater inflation and unemployment increased due to Trump’s tariff war.
These concerns agreed last week Walmart announcement Plans for increasing prices of this month, because of the influences that the tariffs had on imports.
This can explain why Bitcoin had such a surprisingly unstable week. On Tuesday, a weekly low of $ 101,750 hit, followed by several peaks and troughs before reaching a high $ 106,500 on Monday and dropped to 102,450 hours later.
Despite Bitcoin’s drop of 1.4% per day, according to Co ringeckoOnly 5.8% of its permanent maximum of $ 108,786 remains in January this year. Ethereum, for comparison, is still 50.9% of its maximum of $ 4,878 achieved in 2021.
Edited Stacy Elliott.
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