After the tariff announcement by United States President Donald Trump, the overall cryptocurrency market witnessed a massive sell-off.

Amid this, Bitcoin (BTC), the world's largest cryptocurrency by market cap, sank over 6%, turned bearish, and is now poised for a significant price decline.

After U.S. President Donald Trump's tariff announcement, the cryptocurrency market is witnessing a major sell-off. As a result, Bitcoin's price has fallen below a key support level, setting the stage for a substantial price decline.

Potential Factor for Market Sell-Off

The tariff announcement has broad implications, with major countries facing a 10% tariff, while China, the European Union, and Japan will face tariffs of 34%, 20%, and 24%, respectively.

This development has caused BTC to lose its recent support, which it formed during the market uncertainty. It also fell below the 200-day Exponential Moving Average (EMA), signaling that the asset is entering a strong bearish trend.

If BTC closes its daily candle below the $81,500 level, there is a high possibility it could fall significantly and hit the $77,700 level or even lower in the coming days.

BTC Price Today: A Deep Dive

After the tariff announcement, major cryptocurrencies have experienced significant price declines.

Ethereum (ETH) and Solana (SOL) are down over 7% and 12%, respectively, while XRP has declined by 7.5% in the past 24 hours.

However, BTC has faced a steeper decline, sinking by 6% to trade below the $81,000 mark.

With the loss of support and the attention it has gained from traders and investors, BTC's trading volume has surged by 85%.

18,930 BTC Sold by Short-Term Holders

Following this massive price decline and the bearish shift in market sentiment, short-term holders have been shaken.

Recently, a prominent crypto expert shared a post on X (formerly Twitter) stating that short-term holders sold 18,930 BTC last night, immediately after the tariff announcement.

This massive sell-off by short-term holders at the beginning of today's trading session may push BTC towards a more significant price crash in the near term.