Selling pressure heavy on bitcoin, price declines to less than usd 1,05,000, ether down 1 percetic

The crypto market was declined on Thursday after the previous few days of recovery. The major reason for this is heavy selling. The biggest cryptocurrency Bitcoin was about 0.60 percent decline in terms of market value. Apart from this, many other cryptocurrencies were also damaged. The decision related to the tariff of American President Donald Trump has also affected the market.

International Crypto Exchange after this report is published Binance But the price of bitcoin was around $ 1,04,760. The price of the second largest cryptocurrency Ether was trading at $ 2,606 by more than one percent. Apart from this, there was also a decline in stablecoin tether and XLM linked to Solana, BNB and US dollars. According to a report by Cointelegraph, Bitcoin has retained more than one million dollars for 27 days between May and June this year. In January this year, this most popular cryptocurrency traded over one million dollars for 18 days. Bitcoin’s market capitalization is at around $ 2.08 lakh crore.

Market Analysts say that the market has been affected by Trump’s strict attitude towards tariffs. This has increased selling in Crypto market. It may decline if bitcoin falls from a $ 1,05,000 level. Trump has decided to place a big bet on the crypto segment. Trump’s social media company Trump Media and Technology Group plans to invest about $ 2.5 billion (about Rs 21,416 crore) in Bitcoin.

Recently, Trump also signed an order to create a strategic reserve of bitcoin in the US. In the executive order on which Trump has signed, it has been clarified that the amount of taxpayers will not be used to buy bitcoin. Trump Media and Technology Group has reported that about $ 1.5 billion shares and one billion $ one billion convertible notes will be sold for this purchase of bitcoin. This bitcoin will be placed in the balance sheet of Trump Media with a cash and short-term investment of about $ 75.9 crore. Crypto.com and anchorage will provide digital custody for this bitcoin holding.