COINOTAG reports on significant market developments as the United States has enacted a 25% tariff on both Canada and Mexico, asserting there is no room for negotiation with these allied nations. This decision coincides with the announcement of upcoming retaliatory tariffs set to take effect on April 2nd. Additionally, the U.S. government is poised to sanction nations that partake in currency devaluation, which could potentially undermine global trade dynamics and stifle economic growth. Such geopolitical tensions may also exert pressure on the cryptocurrency market.
Recent trading data reveals that the Bitcoin (BTC) market has experienced approximately $500 million in liquidations within the past 24 hours. Notably, long liquidations dominated this activity at 60%, compared to 40% for shorts. The long-to-short ratio among large holders is noted at 1.2, suggesting a slight preference for long positions at this juncture.
Market analysts have observed a modest uptick in BTC spot ETF holdings, indicative of heightened demand from institutional investors. Specifically, the demand zone stands between $81,000 and $80,500, while the supply zone ranges from $90,000 to $92,000. Investors are advised to monitor these critical levels and manage risk proactively.