Canary Capital Requests ETF, PENGU Value Increases
Experts are cautioning about a possible Bitcoin decrease under $80,000, due to growing technical tension.
Cryptocurrency equities have also decreased – Coinbase (COIN) decreased by 6.4%, Robinhood (HOOD) decreased by 8%, and Bitcoin Digging Achieves a Significant Triumph in US Rule-making miners Bitdeer (BTDR) and Marathon Digital (MARA) decreased by 29% and 9% correspondingly. Spot Bitcoin exchange-traded funds also noticed considerable outflows, with $1.1 billion departing in five days, including $516 million on February 24 solely. According to CoinGlass figures, over 220,000 investors were liquidated as costs decreased, and open interest decreased 5%, demonstrating that investors are pulling out. Exchange inflows also grew considerably by 14.2%, which might indicate a panic sell-off in the marketplace. As of the moment of composing, Bitcoin is trading at $88,290. As previously reported by crypto.news, BTC briefly decreased to $86,099, creating the whole cryptocurrency marketplace to forfeit $1.06 billion. Long positions were affected the hardest, with forfeits reaching $873 million. However, Matrixport says that worries about Trump’s proposed tariffs and a six-month delay in Bitcoin’s strategic reserve consultation could conduct to a “technical top pattern.” From a technical analysis viewpoint, experts say Bitcoin’s cost could decrease to the next support stage of $73,000. According to a report released by Singapore-based blockchain company Matrixport, institutional trading is playing an increasingly vital role in Bitcoin (BTC) cost variations, and Wall Street’s impact is also growing. In a February 26 X post, experts noted that Bitcoin’s marketplace dominance remains at 60%, making it a key benchmark for cryptocurrency investors. Investors are reacting to Trump’s tariff plans and regulatory delays, and Bitcoin’s cost may be peaking.
