Bitcoin Price has finally increased beyond $ 90,000, which represents a recovery of approximately $ 20,000 in slightly over two weeks after its sharp drop to less than $ 75,000 in the second week of April.
Better, Bitcoin price erupted at the level of 94 thousand dollars, and is currently trading at 93,773 dollars, according to CONINECKO data.
What drives the high prices for Bitcoin?
Mostly, commercial tensions are often reduced and temporarily stopped in the high tariff that affected most countries, but mostly China. However, it appears that the Trump administration is looking to reduce the customs tariffs on Chinese goods, according to the commodities a report From the guardian who conveyed President Trump:
We will live together with great happiness and ideal we work together.
This optimism and support for bitcoin recovery. Last week, BTC regained nearly $ 10,000 from its lowest level, but the gathering intensified sharply with the start of the new week.
This week alone, the original had already reached $ 90,000, as Cryptomode reported.
However, we can also see how the investor’s request on Bitcoin is supported by support from the declining US dollar. The US dollar index (DXY), which tracks Greenback against other leading currencies, has decreased by about 9 % on an annual basis, as it recently reached the lowest level of 98.8-a level that has not been seen since April 2022, according to TradingView.
Almost one dollar in flows for Bitcoin Investment Funds
Bitcoin’s investment funds have witnessed a great return this week, indicating the renewal of the investor’s confidence after months of concern about the escalation of global trade tensions.
According to Farside Investors, ETF attracted in the United States Bitcoin ETF net flows exceeding 912 million US dollars on April 22, which is the largest day for one day since January 21.
James Bouville, Head of Coinshares Research, Described The transformation as a “great improvement in feelings”, noting that it was the most powerful money flow in the investment funds circulating in Bitcoin in more than three months.
Read more: The last bitcoin gather
