On February 3, the price of Bitcoin (BTC) had a significant fluctuation in the price with the opening of Wall Street. According to market data, the BTC/USD parity increased by an increase of 6.7 percent from 91,530 dollars to $ 97,000. This movement came after the markets announced the new customs duties of the United States for Canada and Mexico. President Donald Trump announced that it plans to expand the taxes to the European Union.
Bitcoin price recovered
The price of Bitcoin has experienced a major decrease today and fell to $ 91,000. However, the Altcoins suffered a greater loss of value. Most of the first twenty crypto currencies of the highest market value experienced a loss of 20 %or more. Popular Trader Johnny, in his latest X sharing, said, orum For now, Bitcoin looks stronger than the rest of the market. The main part of the decline in Bitcoin seems to be left behind, ”he said.
Rect Capital said that CME Group has a new “GAP oluş in the Bitcoin futures market due to a decrease in BTC price. It is known that this gap acts as a magnetic field for the short -term price movement when the markets are reopened, and is often filled in a few days or hours. Analyst a re -test process is going on in the volatil, Bit said Bitcoin should close over $ 96,600 at the end of February.
Bitcoin’s recovery movement does not show parallel with the depreciation of US stock market indices S&P 500 and Nasdaq Composite, respectively by 1.75 %and 2.25 %depreciation, respectively. “This is happening as a result of portfolio balancing, not because of a single entity,” he said. A recovery signal in the price of Bitcoin came from the 4 -hour period of the relative power index (RSI). Caleb Franzen, 4 -hour RSI’s “over -sell” level, the level of the past offers attractive purchasing opportunities, he said. “In the last six months, BTC’s 4 -hour RSI has fell to the level of over -selling in the last six months, and every time the price has seen new short -term bottoms, even if the price saw new short -term bottoms,” he said.
Bernstein: Corporate investors attack
Research and intermediary firm Bernstein said in a report on February 3, Trump administration plans to use Bitcoin as a tool for strategic targets such as combating inflation, reducing state deficit and increasing energy production. Analyst Gautam Chhugani emphasized that Bitcoin will continue to gain value against the dollar in the long run, because governments will aim to create economic “buffer” by investing in reserves such as Gold and Bitcoin.
Bernstein said in the short term that Bitcoin moves with risky assets in the short term, but found support at $ 90,000 due to strong institutional demand. In the long run, Bitcoin is expected to reach $ 200,000 by the end of 2025.
