Jakarta, Pintu News – As reported by CNA, after hearing US President Donald Trump’s talk of creating a national cryptocurrency reserve, Bitcoin and similar digital assets have declined due to concerns that this will not happen.
Then, how will the Bitcoin price move today?
After experiencing a price surge, Bitcoin (BTC) has once again undergone a 10.04% correction as of March 4, 2025, currently trading at $83,373 or approximately 1,378,233,195 IDR. Over the past 24 hours, Bitcoin’s price has dropped from its peak of 1,546,292,496 IDR to a low of 1,373,116,357 IDR, marking a significant market correction.
Today’s BTC drop caused Bitcoin’s market capitalization to fall by 9%, to $1.65 trillion, with trading volume in the last 24 hours rising 16% to $72.9 billion.
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According to BeInCrypto, Bitcoin (BTC) price has experienced extreme volatility in recent days. Last week, the Crypto Fear and Greed Index hit its lowest level since 2022, exposing an increasingly strong bearish sentiment due to several key factors.
Yesterday, Donald Trump announced the creation of a national crypto reserve, which briefly sparked a surge in digital asset prices. However, that momentum has all but disappeared today, putting Bitcoin back under pressure.
There are several reasons why BTC looks increasingly bearish. Basically, Trump’s announcement may just be a “band-aid” for a much more serious wound in the crypto market.
Last week, the Bitcoin ETF recorded its worst week in history, with fund outflows reaching $2.7 billion. Meanwhile, the Federal Reserve Bank of Atlanta predicted a 1.5% decline in US GDP. Today, the projection has worsened.
The Fed now expects US GDP to shrink by 2.8% by the end of the first quarter of 2025-much worse than the prediction four weeks ago, which still showed 3.9% growth.
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From an economic point of view, this revision could be taken as a signal of a massive recession, further adding pressure on Bitcoin and the financial markets as a whole.
The U.S. economy has not experienced a shrinkage of this magnitude since the start of the Covid-19 pandemic five years ago.
The worsening macroeconomic conditions are a strong signal that Bitcoin (BTC) is at risk of a bearish trend in the short term. In fact, today’s market liquidation nearly reached $800 million, adding pressure to the crypto’s price.
Another factor fueling Bitcoin’s volatility is the planned trade tariffs proposed by President Trump. Some analysts argue that this is not the main cause of the crypto market’s downfall-and there may be some truth to that.
However, it can’t be ignored that crypto markets plummeted after Trump announced 25% tariffs for the European Union, which joined previous tariffs for Canada, Mexico, and China.
“Trump: No more room for tariff negotiations with Mexico and Canada. [He] reiterated plans to double China tariffs from 10% to 20%.”- Walter Bloomberg, via social media.
In other words, macroeconomic factors are now the main drivers of crypto market sentiment. Since the Bitcoin ETF was approved, the crypto market has been increasingly integrated with the traditional financial system.
However, if the US economy does go into recession, the negative impact of this integration will be even more pronounced-and the crypto market could come under even more pressure.
Amidst Bitcoin’s (BTC) high volatility, some market analysts are advising caution. Veteran trader Peter Brandt highlighted a new gap in Bitcoin futures, which could be an indication of the next price move. In his latest post on X, Brandt wrote:
And suddenly Bitcoin futures $BTC have another gap to fill pic.twitter.com/y6CyUm27x3
“And suddenly, Bitcoin futures have another gap that needs to be filled.”
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This statement hints that Bitcoin price could undergo a retracement to fill the gap, which means BTC volatility is likely to continue.
Meanwhile, crypto analyst Rekt Capital noted that Bitcoin has achieved important milestones this week, by filling the CME gap in the range of $78,000-$80,700 and $92,800-$94,000.
#BTC
Bitcoin has managed to fill two CME Gaps, all in one week
But in doing so, Bitcoin has also created a massive brand new CME Gap somewhere between $84650 and $94000$BTC #Crypto #Bitcoin
However, yesterday’s surge in BTC prices also created a sizable new CME gap between $84,650 and $94,000. Analysts will now be watching Bitcoin’s price movements more closely to see how the asset interacts with this latest gap.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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