{"id":35956,"date":"2025-02-03T14:00:49","date_gmt":"2025-02-03T11:00:49","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=35956"},"modified":"2025-02-03T13:35:04","modified_gmt":"2025-02-03T10:35:04","slug":"bitcoin-drops-to-91-5k-amid-trade-tension-concerns","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-drops-to-91-5k-amid-trade-tension-concerns\/","title":{"rendered":"Bitcoin Drops to $91.5K Amid Trade Tension Concerns"},"content":{"rendered":"

Canada, Mexico, and China\u2019s<\/strong> retaliation promises heightened investor concerns, leading to a downturn in Bitcoin and the crypto<\/strong><\/a> market.<\/p>\n

Bitcoin<\/strong> highlighted its growing sensitivity to macroeconomic developments, reaching a local bottom just above $91,000. On February 3, at 02:00 UTC, Bitcoin<\/strong> dropped to $91,530, marking its lowest level in over three weeks, before recovering to $95,306 by 08:15 UTC.<\/p>\n

\"btc\"<\/p>\n

BTC\/USD, 1-Day Chart
\n<\/strong><\/p>\n

Bitcoin\u2019s<\/strong> decline came after U.S. President Donald Trump<\/strong> signed an executive order on February 1 to impose additional tariffs on imports from China, Canada, and Mexico.<\/p>\n

Ryan Lee, Head Analyst at Bitget Research<\/strong>, noted that Trump\u2019s tariffs escalated global trade war concerns, shaking investor confidence and exerting downward pressure on Bitcoin.<\/p>\n

Lee<\/strong> explained that while Bitcoin has traditionally been seen as a hedge against traditional market volatility, recent price movements highlight its increasing sensitivity to global economic developments. According to him, geopolitical tensions and government policies are now playing a more decisive role in shaping the cryptocurrency market.<\/p>\n

The analyst added that Canada, Mexico, and China\u2019s<\/strong> retaliatory measures further heightened investor concerns, triggering a flight from risky assets, including cryptocurrencies.<\/p>\n

Bitcoin\u2019s<\/strong> price movement aligns with previous predictions from analysts, who forecast a deeper correction following a \u201clocal peak\u201d above $110,000 in January.<\/p>\n

\"gmi\"<\/p>\n

GMI Total Liquidity Index, Bitcoin (RHS)<\/strong><\/p>\n

Bitcoin Continues to Be Sensitive to Macroeconomic Developments<\/strong><\/p>\n

Raoul Pal, Founder and CEO of Global Macro Investor<\/strong>, highlighted Bitcoin’s correlation with the global liquidity index, suggesting that Bitcoin could fall below $70,000 in February before a temporary peak in liquidity.<\/p>\n

Despite being viewed as a hedge against volatility in traditional finance markets, Bitcoin remains sensitive to macroeconomic developments.<\/p>\n

However, Alvin Kan, COO of Bitget Wallet<\/strong>, believes that Bitcoin has recovery potential compared to traditional markets. He stated, “While the sell-off reflects a typical risk-off reaction to macroeconomic shocks, Bitcoin’s safe-haven perception still leaves room for a rebound, particularly as digital assets are increasingly adopted as hedges against inflation and currency devaluation.”<\/p>\n

Short-term concerns related to the $36 trillion U.S. debt ceiling persist, but industry experts remain optimistic about Bitcoin’s outlook for the rest of the year. Analysts predict Bitcoin could rise above $160,000 to $180,000<\/strong> during the remainder of the 2025 market cycle.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0<\/span>and\u00a0Twitter<\/strong><\/a>\u00a0<\/span>channels for the latest news<\/a> <\/strong><\/span>and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Canada, Mexico, and China\u2019s retaliation promises heightened investor concerns, leading to a downturn in Bitcoin and the crypto market. Bitcoin highlighted its growing sensitivity to macroeconomic developments, reaching a local bottom just above $91,000. On February 3, at 02:00 UTC, Bitcoin dropped to $91,530, marking its lowest level in over three weeks, before recovering to<\/p>\n","protected":false},"author":29,"featured_media":35962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[11414,1945,1730,11400,4142,7980,11415],"class_list":["post-35956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-and-china","tag-canada","tag-donald-trump","tag-mexico","tag-trade","tag-u-s","tag-why-is-bitcoin-falling"],"yoast_head":"\nBitcoin Drops to $91.5K Amid Trade Tension Concerns - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-drops-to-91-5k-amid-trade-tension-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Drops to $91.5K Amid Trade Tension Concerns - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Canada, Mexico, and China\u2019s retaliation promises heightened investor concerns, leading to a downturn in Bitcoin and the crypto market. 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