American investor Steve Weiss has reduced his Bitcoin exposure by an additional 10% due to the asset’s range-bound price movement, citing uncertainty in financial markets.

Uncertainty in Financial Markets

Weiss, founder and managing partner of Short Hills Capital Partners, made the announcement during CNBC’s “Halftime Report,” where he discussed his decision to cut his Bitcoin exposure via BlackRock’s spot exchange-traded fund. This move follows last week’s 20% sell-off, with the size of his position remaining unclear.

Weiss attributed the sell-off to uncertainty in financial markets, likely caused by trade wars and tariffs imposed by the Trump administration. He noted that crypto markets have stalled in this environment and require a catalyst for their next move.

Bitcoin is a risk asset. We saw that in the premarket when futures went up and now it’s down… It goes through these consolidation periods and I think this could be one of these periods, until we get specific laws/regulations from the new head of the SEC.

Regulatory Clarity

Mark Uyeda, acting chair of the U.S. Securities and Exchange Commission, has declared the agency’s intention to dispel crypto regulatory confusion and work with the industry to clarify rules. The SEC has launched a dedicated Crypto Task Force and overhauled the commission’s crypto crime-fighting unit.

The securities watchdog has also ended litigation against Coinbase, OpenSea, and Robinhood. Many expect the SEC will officially drop its case against Binance as well.

Bitcoin Price Movement

As of press time, Bitcoin dropped under $95,000, down nearly 2% in 24 hours. The broader crypto market also shed value, falling to about $3.2 trillion.

A note shared by Ryan Lee, chief analyst at Bitget Research, identified two key levels for a possible uptrend or more downside. Bitcoin is trading around $96,000, with a projected range of $92,000 to $105,000 this week. Its movement largely depends on whether it can break past the $100,000 resistance or retrace to $94,000 support.

Technical indicators present mixed signals, with short-term bullish momentum clashing with longer-term market uncertainty.

For more cryptocurrency news and market updates, visit Global Crypto News.

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