On February 3, Bitcoin dropped below $92,000, inciting $2.1 billion in liquidations. This was partly due to fears about the tariff war announced by then US President Donald Trump.
Bitcoin Market Under Pressure
The drop in Bitcoin's price alarmed investors amid concerns of each past bull run peaking within 330 days of hitting the previous high. However, the market somewhat recovered following a pause on tariffs for Mexico and Canada.
Bitcoin Demand Analysis
Despite the downturn, Bitcoin demand remains robust, as illustrated by Glassnode data. Long-term investors still hold a considerable portion of coins, indicating continued confidence.
Bitcoin Forecast
Analysts predict significant potential highs for Bitcoin. Forecasts suggest a peak in the range of $160,000 to $210,000, with some experts even expecting $250,000.
Despite recent fluctuations and ongoing economic challenges, experts believe that the cryptocurrency has yet to reach its peak.
