The cryptocurrency market faced significant fluctuations following tariff implementation by President Trump. However, recent shifts in investor sentiment suggest a potential rise in Bitcoin prices.
Market Dynamics
After the introduction of import tariffs by President Trump, both stock and cryptocurrency markets felt pressure. Nevertheless, the suspension of tariffs for 90 days sparked enthusiasm, supporting Bitcoin which surpassed the $80,000 mark.
Investor Sentiments and Accumulation
Despite a recent dip below $80,000, many investors have started accumulating Bitcoin once again. Data from Santiment indicate a surge in wallets holding over 10 BTC by 132 in the past day, pointing to increasing optimism. Additionally, a movement of Bitcoin worth approximately $3.6 billion confirmed continued whale activity in the market.
Bitcoin Price Prediction for the Upcoming Week
Bitcoin, after dipping to $74,500, is now trading above $81,000. Sustained growth may lead to reaching a resistance level at $82,500. However, for a bullish trend confirmation, the price must close above $81,500 this week.
The cryptocurrency market shows potential for growth despite recent fluctuations. Continuous accumulation by major investors may indicate positive changes in sentiment and price trends.
