The capitalization of the crypto market amounted to $2.896 trillion on Friday, having decreased by $69 billion per day. Yesterday, bitcoin strengthened by 0.37%, reaching $87,232, but by the morning of March 28, it had fallen to $85,827. The reason for the weakening was Donald Trump's statements about the introduction of 25% duties on car imports, which caused concerns among investors and a revision of risks.
This news hit automakers the hardest, but it also affected other sectors. Shares of Nvidia, Goldman Sachs and American Express also dropped significantly. Investors fear that the new duties will increase inflation and slow down the US economy, which could trigger a recession.
At the moment, bitcoin is trading at $85,127, remaining in the consolidation phase. Attempts to overcome the resistance at $88,600 have not been successful so far. Under current conditions, the price may adjust to $84,820, and in the case of mass liquidations of futures, it may fall to $81,300. However, a close above $89,000 would be a positive signal for the market. The situation remains uncertain, with participants waiting for inflation data and the Fed's response.
