February 28, 2025 05:46:55 UTC
What’s the Latest in the Crypto World?
Bitcoin (BTC) experienced a significant drop below its 200-day simple moving average on Friday, resulting in a 16% weekly loss and briefly falling below $80,000 for the first time in months. This decline was primarily driven by concerns over U.S. tariffs, leading to increased demand for the U.S. dollar. Other cryptocurrencies like XRP, Solana (SOL), and DOGE also saw substantial losses, with XRP even breaking below the 23.6% Fibonacci retracement level. The announcement of tariffs on Canada, Mexico, and China by President Trump further boosted the dollar index, pushing it to 107.30.