Bitcoin Slips to $98,000 Amid Market Sell-Off and Declining Activity | Airdrop Alert Pro

With the increase in more extensive encryption market experience, Bitcoin has fallen to the threshold of $ 100,000 volatilityEssence

This downturn and the trading activities on the Bitcoin network significantly declined, making the memory of the memory pool reaching the lowest level since March 2024.

The liquidation and liquidation of market decline exceeds 500 million US dollars

In the past 24 hours, Bitcoin below $ 100,000It reduced its value of more than 4 % and touched $ 98,000 briefly. Beincrypto’s data shows that Bitcoin initially reached its peak at a price of $ 102,000, and then succumbed to sales pressure.

The decline is that after a wider market instability, the total encryption market value loses 5 % of its value. Other major cryptocurrencies It also faces steep decline. Ethereum, SoranaThe loss of each record of BNB exceeds 7 %.

Increase The volatility triggers the liquidation frenzy, According to Coinglass, it consumes more than $ 555 million leverage positions. More than 239,000 traders are facing obsessive liquidation. These transactions have long-term sales-bets that have risen-the heaviest loss have been lost, totaling 491 million US dollars.

It is expected that short traders who have decreased will lose about $ 63 million.

The turbulence follows US President Donald Trump Decide Strict tariffs are levied for major trading partners including Canada.

The government claims that the move aims to curb the flow of unlicensed immigrants and illegal substances into the United States. However, tariffs have caused concerns about the pressure of inflation in American consumers.

In response, the Canadian Prime Minister Justin Trudeau announced his retaliation measures to levy 25 % of tariffs on US import measures worth 100.6 billion Canadian dollars.

In the first round of taxes, it will take effect immediately for $ 30 billion, and it will also plan to increase tariffs of US $ 125 billion in the next few weeks.

Bitcoin networks saw the transaction drop sharply

Beyond the market turmoil, Bitcoin’s network activity With the volume of MEMPOOL (unconfirmed transactions), the amount of MEMPOOL is large.

On February 1, data from the encryption volume showed that Mempool was almost empty, indicating that the transaction volume decreased sharply. The data is further reflected Bitcoin trading fee Fall to 1 Sit up/VB, the signal reduces the demand for block space.

This marks the lowest level of trading activities since March 2024.

This trend has caused people to worry about the use of Bitcoin as a medium of exchange. Some analysts have shown that increasing views on BTC as digital gold may prevent the use of transactions.

Bart Mol (Bart Mol) Satoshi The transformation of radio contestants criticized the narrative, pointing out the potential risks of Bitcoin’s Bitcoin’s basic role. He compared it to the “wood rot” in the House Foundation and warned that lack of trading activities could destroy the core function of Bitcoin.

“Bitcoin celebrates that the Bitcoin that Mencius has been cleaned up is one of the most unscrupulous things I have ever seen for a while. Digital gold narrative is slowly destroying the foundation of Bitcoin, such as wood rotten on the basis of houses,” Moore WriteEssence

Indeed, Moore’s comment and Bitcoin is increasingly adopted as a reserve asset. Several companies and The government has begun to consider Bitcoin’s national debtEssence These narratives have strengthened the status of tokens as long -term value storage rather than trading currencies.

However, the continuous decline in chain activities caused the problem of long -term utility of Bitcoin, rather than becoming a digital gold reserve.