Bitcoin (BTC) fell to $87,101 on March 3 as the Wall Street session opened, with investor sentiment rattled by U.S. trade tariff concerns.
Market Awaits Trump’s “Investment Announcement”
Data from TradingView showed BTC/USD sliding under $90,000, marking a 5% daily decline. Earlier in the week, optimism surrounding the idea of a U.S. strategic crypto reserve had pushed prices to new highs, but sellers quickly took control as traditional finance markets resumed activity.
Investor uncertainty was fueled by comments from U.S. Commerce Secretary Howard Lutnick, who mentioned on CNN that President Donald Trump was expected to make a decision on tariffs against Canada later in the day, adding pressure to stocks and crypto alike.
The crypto market’s downturn triggered liquidations exceeding $150 million within four hours, according to data from CoinGlass.
Despite the pullback, traders looked forward to Trump’s scheduled “investment announcement” at 1:30 p.m. Eastern Time, hoping for market-moving insights.
Analysts Call for a Measured Approach
Amid the volatility, QCP Capital urged traders to stay level-headed.
“After last night’s pivotal announcement, Trump is likely to do whatever is necessary to prevent a prolonged stock market slump—something he has championed in the past but struggled with recently,” the firm shared in a Telegram update.
QCP also pointed to elevated levels on the VIX volatility index, highlighting broader market uncertainty in risk assets.
“Just when it seems like Trump has played all his cards, he may still have more surprises in store,” they noted.
BTC Price Eyes Higher Low for Potential Recovery
Bitcoin traders were watching for a higher low formation, which could pave the way for a rally toward the $100,000 mark.
“Bitcoin broke below the range, dropped hard, and then immediately reclaimed the range lows,” trader Jelle noted on X. “A higher low here would be ideal—let’s see how it plays out.”
Daan Crypto Trades highlighted similarities with previous market cycles, stating:
“BTC is following a familiar pattern—expansion, range formation, breakdown, retake, and then lift-off.”
Meanwhile, Keith Alan, co-founder of Material Indicators, pointed to the 21-week simple moving average (SMA) as a crucial level.
A successful weekly close above this metric, which Bitcoin recently achieved, was seen as an “extremely bullish” signal. However, Alan warned that strong resistance around $90K could lead to a temporary fakeout before a potential support retest.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
