After declining to less than $ 93,000 on February 3, the largest encrypted currency, Bitcoin has regained an intense bullish momentum, prompting BTC to $ 102,000 with a rise of 3.64 % in only 24 hours.
The decline on Monday the cryptocurrency was slapped to the lowest level in 3 weeks with a huge drop by 14 %. According to some experts, the reaction to the decline in US President Donald Trump’s decision to impose a 25 % tariff fee on neighboring countries, Canada and Mexico. It is also planning to impose similar commercial fees on the European Union (European Union).
“The recent tariff ads, which provided a higher tariff for Canada, Mexico and China, emphasizes the impact of geopolitical transformations on global markets. In the short term, these measures can make great fluctuations-completely as we saw when Bitcoin decreased after a similar tariff and commercial tensions in the past.” Sumit Gobta, co -founder of Coindcx.
At the time of publication, BTC rotates about $ 101,203 with a wonderful $ 2 trillion market, according to Coinmarketcap.
Will Bitcoin see a new race?
(source: Rick Capital))
The prominent encryption analyst, Rekt Capital celebrated the rise in BTC, where the writing on X “Bitcoin has successfully reconsidered the level of $ 101,000”. It is called a critical price that you now need to recover as support. In order for this to happen, BTC must secure daily closure above this level and successfully re -test it. If confirmed as support, the price can gain momentum towards resisting the following key along the blue Qatari shown in the graph.
Bitcoin successfully reconsidered at the level of 101 thousand dollars (black)
Now BTC needs to be closed daily over it and successfully re -testing it to restore support
Successful restoration and BTC can continue in the blue diameter above
Until then – 101 thousand dollars need to prove that it is not … https://t.co/ghqgcypxl pic.twitter.com/kloklgqs9f
– Rekt Capital (@rektcapital) February 3, 2025
There is a sensation in the market that adult investors gradually increase their bitcoin share. On the other hand, miners sell less than BTC and speculate on operating the new bull. If this happens, BTC can break another psychological barrier of $ 110,000.
Also read: Microstrategy stops Bitcoin Buying Spree, what is the following for BTC?
