Analysis: Driven by renewed concerns over U.S. tariff policies, the demand for the dollar has increased, causing Bitcoin to fall below the $80,000 mark

2025-02-28 12:26:35

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ChainCatcher news, according to CoinDesk, Bitcoin (BTC) fell below the 200-day simple moving average during the Asian trading session on Friday, with a weekly decline expanding to 16%. Driven by renewed concerns over U.S. tariff policies, which increased demand for the dollar, Bitcoin's price briefly dropped below the $80,000 mark for the first time since November 10.

U.S. President Trump announced on Thursday plans to impose tariffs on Canada and Mexico starting March 4, while also doubling the 10% general tariff on Chinese imports. In a client report released on Thursday, ING stated, "We expect U.S. tariffs to regain focus and drive the dollar to continue strengthening." The dollar index rose to 107.30, continuing the rebound from a low near 106.15 on Wednesday.

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