The price of Bitcoin (BTC) has fallen below $117,000 after the opening of the US markets. Although this decline has raised concerns, it has not resulted in significant losses for alternative currencies. Predicting the extent of this rollback remains difficult, especially with Trump continuing to repeat his calls for lowering interest rates. At the same time, Bitcoins dating back to 2011 are being sold. The current situation of Ethereum (ETH) and XRP calls for attention.

Bitcoin downward spiral
President Trump's hardline stance on tariffs remains in place, increasing financial pressures as inflation figures exceed expectations. Multiple statements from Federal Reserve members regarding interest rate cuts are expected this week. Nevertheless, Trump has again urged for a reduction. It has been shown that rumors of Federal Reserve Chairman Powell's resignation are unfounded. Republicans have launched a smear campaign against the Federal Reserve, publishing exaggerated stories about the renovations of its buildings, which is a major point of contention.

It is believed that the rumor of Powell's resignation aims to acclimate the market to this possibility and pressure the current president. As for Bitcoin, more than half of the 80,000 Bitcoin traded in 2011 has been sold, with ongoing sales ranging from 200 to 500 Bitcoin through Galaxy Digital. The market has been affected by this influx of 10 billion dollars, leading to a decline. With the possibility of institutional investors seeing this as an opportunity, the situation is worth monitoring.

It is important to maintain the support level of 115,500 Dollar.